Inventory model for deteriorating items having demand rate as a polynomial function of selling price of degree four with variable holding cost

The paper contains an inventory model for deterministic inventory for deteriorating products; a particular type of polynomial of selling price dependent on degree four is taken and a demand rate. Both the deterioration rate and holding cost are assumed to be a linear function of time. The inventory involves a single item and involves zero lead time. The shortages are enabled and fully backlogged. With the help of differential equations mathematical modeling of the paper has been framed. The optimal value of parameters is evaluated, and the optimal cost price is calculated in the model. The graphs are drawn by using different parameters for the convexity of the model. Maple software is used for numerical evaluation and graphical presentation.