A Production Inventory Model for Deteriorating Products with Multiple Market and Selling Price Dependent Demand

Authors

  • Pinky Saxena

  • S.R Singh

  • Isha Sangal

Keywords:

production, deterioration, multiple market, price dependent demand

Abstract

This paper presents an inventory model for deteriorating items that have a single manufacturer but multiple market demands for a finite planning horizon. For the market, different selling seasons are considered. It is a production inventory model, which has a demand rate dependent on the selling price. Here, we have presented a solution-search procedure to find the optimal replenishment policy for raw material and optimal production time. The model is illustrated using a numerical example. Further; sensitivity analysis is also performed to check the stability of the model.

How to Cite

Pinky Saxena, S.R Singh, & Isha Sangal. (2016). A Production Inventory Model for Deteriorating Products with Multiple Market and Selling Price Dependent Demand. Global Journal of Science Frontier Research, 16(F6), 59–69. Retrieved from https://journalofscience.org/index.php/GJSFR/article/view/1921

A Production Inventory Model for Deteriorating Products with Multiple Market and Selling Price Dependent Demand

Published

2016-05-15