Inventory Model for Deteriorating Items with Seasonal Price and Time Dependent Ramp type Demand

Abstract

In real life, deteriorating items are considered as the high profit products due to seasonal behaviour in demand. Another observation for the demand is the dependency over price as well as time. Many seasonal items have single opportunity of replenishment and the replenished inventory is used for successive number of demand seasons. In this paper, simultaneous procurement and pricing policies are considered for the seasonal deteriorating items with ramp type, price and time dependent demand rate. Time dependent partial backlogging is considered. Managerial insights are extracted from analytical results, numerical example and sensitivity analysis.