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Quadratic Demand Based Inventory Model with Shortages and two Storage Capacities System


Affiliations
1 Department of Mathematics, B.K. Birla Institute of Engineering and Technology, Pilani, Rajasthan, India
2 Department of Mathematics, Singhania University, Pacheribadi, Jhunjhunu Rajasthan, India
3 Department of Mathematics, D. N. College, Meerut, U.P., India
     

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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.

Keywords

Quadratic Demand, Deterioration, Carrying Cost, Own Warehouse and Rent Warehouse.
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  • Quadratic Demand Based Inventory Model with Shortages and two Storage Capacities System

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Authors

A. K. Malik
Department of Mathematics, B.K. Birla Institute of Engineering and Technology, Pilani, Rajasthan, India
Dipak Chakraborty
Department of Mathematics, Singhania University, Pacheribadi, Jhunjhunu Rajasthan, India
Satish Kumar
Department of Mathematics, D. N. College, Meerut, U.P., India

Abstract


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.

Keywords


Quadratic Demand, Deterioration, Carrying Cost, Own Warehouse and Rent Warehouse.

References