An Inventory Model with Time-Varying Demand and Comprehensive Cost

Abstract

In this inventory model, we study the system for items with time varying demand. The deterioration of items is not considered here. The inventory level rate of change is given by the time and demand. Shortages are not allowed in this model. Holding cost, ordering cost are considered in this model. Our objective in this model is to evaluation of the total cost to maximize the objective of any industry. For validation of the model, the numerical example is also available which show the sensitivity of the cost with respect to variations in parameters.