Comprehensive Cost Study for an Inventory Model with Quadratic Demand
Abstract: In this inventory model, we developed an inventory system having the time varying demand. The deterioration of items is not considered in this inventory model. The rate of inventory is a combined effect of time and demand. Shortages are also not considered in this model. Holding cost, ordering cost are major effective costs in this model. My aim in this model to study of the total cost to minimize with reference of parameters used in this model, that is major objective of any industry for establishment of business. For validation of the model, the numerical example is also illustrated in the end of study.
Keywords: Inventory, demand, holding cost, ordering cost
How to Cite?: Vivek Vijay, "Comprehensive Cost Study for an Inventory Model with Quadratic Demand", Volume 13 Issue 5, May 2024, International Journal of Science and Research (IJSR), Pages: 118-121, https://www.ijsr.net/getabstract.php?paperid=SR24430220011, DOI: https://dx.doi.org/10.21275/SR24430220011