Asian Journal of Management
  • Year: 2017
  • Volume: 8
  • Issue: 4

An Inventory Model for both Variable Holding and Sales Revenue Cost

1Department of Mathematics, D.N. (PG) College, Meerut, Uttar Pradesh, India

2Department of Computer Science, GRD Institute of Management and Technology Engineering College, Dehradun, U.K., India

*Corresponding Author E-mail: skg22967@gmail.com

**yashveersinghrke@gmail.com

***ajendermalik@gmail.com

Online published on 2 June, 2018.

Abstract

This paper discusses the inventory models for non-instantaneously deteriorating items with stock dependent demand. The holding cost is the increasing function of time and sales revenue cost is taken as decreasing linear function of time. This consideration has enhanced developing mathematical model for optimal order quantity and the total profits value with respect to major parameters is approved out with the facilitate of numerical example.

Keywords

Inventory, time dependant increasing holding cost, time dependant decreasing sales revenue cost, stock-dependent demand