An inventory model with ramp type demand, time varying holding cost and price discount on backorders

Chandra, S.

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Uncertain Supply Chain Management

ISSN 2291-6830 (Online) - ISSN 2291-6822 (Print) Quarterly Publication Volume 5 Issue 1 pp. 51-58 , 2017

An inventory model with ramp type demand, time varying holding cost and price discount on backorders Pages 51-58 Download PDF

Authors: Sujan Chandra

DOI: 10.5267/j.uscm.2016.7.003

Keywords: Time varying holding cost, Ramp type demand, Shortage, Price discount on backorder

Abstract: In this paper, an inventory model is studied with ramp type demand rate where holding cost is expressed as linearly increasing function of time. The study includes some features that are likely to be associated with certain types of inventory, like inventory of seasonal fruits and vegetables, newly launched fashion items, etc. When stock on hand is zero, the inventory manager offers a price discount to customers who are willing to backorder their demand. The optimum ordering policy and the optimum discount offered for each backorder are determined by minimizing the total cost in a replenishment interval.

How to cite this paper

 Chandra, S. (2017). An inventory model with ramp type demand, time varying holding cost and price discount on backorders.Uncertain Supply Chain Management, 5(1), 51-58.

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