This paper, present an optimization framework to derive optimal replenishment policy for perishable items with stock dependent demand rate. The demand rate is assumed to be a function of current level inventory and the inventory deteriorates per unit time with variable deterioration rate. These two parameter and third-parameter Weibull distribution functions are considered as variable deterioration rate. The shortages are allowed and partially backlogged with a variable rate, which depends on the duration of waiting time up to arrival of next lot.
Perishable items, Stock dependent demand rate, Variable deterioration rate, Backlogging, Inventory, Optimization
