A linear time-dependent deteriorating inventory model with linearly time-dependent demand rate and inflation

Abstract

This paper considers inventory model for linearly time-dependent deteriorating items with linearly time dependent demand. Inflation is also taken into account. The model discusses allowable shortages. Mathematical model has been derived to obtain the optimal cycle time and optimal total average cost for items. The objective of this is to minimise the total average cost. Numerical examples are provided to validate the proposed model. Results are also illustrated with the help of sensitivity analysis.