Abstract
In real life observation demand rate depends on time. In this paper demand rate is considered as linearly time dependent and holding cost is exponentially time dependent for case I and time dependent for case II. Previous models considered that demand rate as well as holding cost both being constant. To stimulate more sales the demand rate is not constant but it is time-dependent, stock dependent, inflation dependent, cash discount etc. Differential calculus is used for finding optimal order cycle, optimal cycle time, optimal total inventory cost for both cases (i.e., case I and case II). Sensitivity analysis is given for the variation of various parameters for both cases.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callMore From: International Journal of Mathematics in Operational Research
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
