A DETERMINISTIC INVENTORY SYSTEM WITH POWER DISTRIBUTION DETERIORATION AND FULLY BACKLOGGED SHORTAGE

In this paper, an inventory model has been developed assuming the reduction of inventory items through demand and deterioration. The demand rate has been assumed to be a ramp type function of time and a two parameter power distribution has been taken to represent the deterioration time. Also, shortages have been allowed and fully backlogged. The model has been attained by minimizing the total cost of the inventory. Moreover, I have shown that the cost function is convex graphically using matlab software. A numerical example with sensitivity analysis depending on different parameter values have also been given to elucidate the model. To minimize the total inventory cost for an organization, this model can be used where the demand and the deterioration depends on time.