Abstract
In the present paper an EOQ model has been developed with nonlinear holding cost, where demand is found to be linearly dependent on selling price and nonlinearly on inventory level. In this model the prevailing assumption of zero ending inventory level has been changed into a nonzero ending inventory level. Here an inventory model with shortages is analyzed which is partially backlogged. The main purpose of the inventory model is to find out the optimal order quantity along with ending inventory level so as to maximize retailer’s total profit per unit time and also to determine the best-selling price of a given product. The trade credit policy is also introduced in the model. To demonstrate our model a numerical example has been presented and a sensitivity analysis is incorporated to highlight the findings of the suggested inventory model.
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