Deterministic EOQ Inventory Model for Non- Instantaneous Deteriorating Items with Starting with Shortages and Ending without Shortages

摘要

In this study,an inventory model for non-instantaneous deteriorating items is considered.In this inventory system,the inventory starts with shortages and ends without shortages.The main goal of this study is to determine an optimal ordering policy such that the expected total relevant inventory cost per unit time has a minimum value for the retailer.The mathematical problem is analytically derived and numerically solved with the help of Simpson's 1/3 rule and Newton-Raphson method.Several numerical examples are given to illustrate the solution procedure for the mathematical model developed and a sensitivity analysis of the optimal solution with respect to various parameters is also studied.