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Models for time dependent deterioration, time dependent quadratic demand and salvage value. (English) Zbl 1292.90025

Summary: An order level inventory models are developed for deteriorating items when the demand rate is assumed to be a continuous function of time which is quadratic in nature and the deterioration rate is proportional to time. The model is solved when shortages are not allowed. Later, the salvage value is used for deteriorated items in the system. A numerical example is taken to discuss the sensitivity of the models.

MSC:

90B05 Inventory, storage, reservoirs