Mathematics and Statistics Vol. 4(2), pp. 58 - 61
DOI: 10.13189/ms.2016.040202
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An Inventory Model for Perishable Items Having Constant Demand with Time Dependent Holding Cost

Sarbjit Singh ^*
Institute of Management Technology, India

ABSTRACT

This paper presents an inventory model for perishable items with constant demand, for which holding cost increases with time, the items considered in the model are deteriorating items with a constant rate of deterioration θ. In the majority of the earlier studies the holding cost has been considered to be constant, which is not true in most of the practical situations as the insurance cost and record keeping costs or even cost of keeping the items in the cold storage increases with time. In this paper the time dependent linear holding cost has been considered, the holding cost for the items increases with time. The approximate optimal solution has been obtained. The results are illustrated with the help of numerical examples.

KEYWORDS
Cycle Period, Deterioration, EOQ, Ordering Cost, Holding Cost

Cite This Paper in IEEE or APA Citation Styles
(a). IEEE Format:
[1] Sarbjit Singh , "An Inventory Model for Perishable Items Having Constant Demand with Time Dependent Holding Cost," Mathematics and Statistics, Vol. 4, No. 2, pp. 58 - 61, 2016. DOI: 10.13189/ms.2016.040202.

(b). APA Format:
Sarbjit Singh (2016). An Inventory Model for Perishable Items Having Constant Demand with Time Dependent Holding Cost. Mathematics and Statistics, 4(2), 58 - 61. DOI: 10.13189/ms.2016.040202.