Open AccessTo Examine the Effect of Inventory Dependent Demand and Time Dependent Holding Cost on Inventory
Publication year - 2019
Publication title -
international journal of innovative technology and exploring engineering
Language(s) - English
Resource type - Journals
ISSN - 2278-3075
DOI - 10.35940/ijitee.k1076.09811s219
Subject(s) - stock (firearms) , inventory control , inventory theory , perpetual inventory , holding cost , inventory cost , inventory turnover , inventory valuation , carrying cost , operations research , differential (mechanical device) , safety stock , computer science , economics , operations management , total cost , microeconomics , mathematics , business , engineering , supply chain , stock exchange , marketing , mechanical engineering , finance , aerospace engineering
Inventory models are effectively used as control tool in most of the inventory control tools. The current study deals with the inventory production model for non momentary deteriorating items. To developed the mathematical model holding cost is considered as time and demand dependent. The items does not start to deteriorate as soon as it enters into the stock. During stock buildup time demand is assumed to be inventory dependent. Optimum solution has been find out by using differential calculus. Results indicate that total inventory has a major influence of inventory consumption parameter.