Author : Animesh kumar sharma, s. s. dubey, ashok kumar adil
Keyword : Inventory model; deteriorating item; price; stock; price-dependent demand
Subject : Mathematics
Article Type : Review article
Article QR Code
Article File : Full Text PDF
Abstract : A Inventory control describes the items, products, or stocks kept indefinitely to meet the anticipated demand. In reality, however, the shelf's life span is impossible due to deteriorated items. The quality of the items (like fruits, vegetables) improves each day, and after a specific time, customers aren't inclined to purchase the items to consume. The decrease in the standard of the product is referred to as deterioration. Different researchers such as Gregory P.1 Fred Raafat , S.K. Goyal3& B. C. Giri, N. Khanlarzade4 et.al, L. Janssen, T. Claus & J. Sauer5 , J. Kaushik6 with A. Sharma have been involved in inventory modeling, using an alternative method of calculating demands, functions as well as assumptions. Deterioration is a frequent cause of loss for retailers, and we present an exhaustive review of constant order and time-dependent requests in inventory models for deteriorating items. We focused on models for inventory with various demand patterns, such as ramp type, linear trapezoidal, etc., in our current research. A comprehensive list of references is included to assist readers in exploring the subject of their interest.
Article by : Dr Animesh Kumar Sharma
Article add date : 2023-01-26
How to cite : Animesh kumar sharma, s. s. dubey, ashok kumar adil. (2023-January-26). Overview of advancement of inventory models for deteriorating items with time based uniform price. retrieved from https://www.openacessjournal.com/abstract/1164