An optimal EOQ inventory model for non-instantaneous deteriorating items with ramp type demand rate, time dependent holding cost and shortages

Abstract

An economic order quantity inventory model for non-instantaneous deteriorating items has been developed with ramp type demand rate, time dependent deterioration rate and time dependent holding cost. Shortages in inventory are allowed in this model, which is partially backlogged. The main objective of this model is to develop an optimal replenishment policy that minimizes the total average inventory cost. Numerical examples are used to illustrate the developed model.