1Associate Professor, Department of Mathematics, B.K. Birla Institute of Engineering and Technology, Pilani, Rajasthan, India, ajendermalik@gmail.com
2Research Scholar, Department of Mathematics, Singhania University, Pacheribadi, Jhunjhunu, Rajasthan, India, dipakchakraborty1963@gmail.com
3Associate Professor, Department of Mathematics, D. N. College, Meerut, Uttar Pradesh, India
In this paper, a quadratic demand based deterministic inventory control model having shortages with two storage capacities system is developed. Inventory is a multi-model business environment for an industry or any business organization. Propose an applicable mathematical model used different technical, constant and variable parameters are assumed like storage capacity, carrying cost, deterioration cost and backlogging cost. Here we take the range of the inventory cycle to get the minimizing complete inventory cost includes positive and negative inventory level. Further, complexity and non-linearity of the developed mathematical model, optimizing techniques are used to solve this and by the help of an example to demonstrate the parameters effects on total inventory cost.
Quadratic demand, deterioration, carrying cost, Own warehouse and Rent warehouse
