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Investigating The Impact of Inflation on Inventory Systems: Time-Dependent Quadratic Demand, Time-Variable Deterioration, and Shortage

Year: 2024

Type: article

Abstract: This paper describes the effect of inflation on an inventory system in which the deterioration rate of items is time-dependent and demand is a time-dependent quadratic function of time. Here, shortages are permitted with a partial backlogging rate with exponentially decreasing function. This research aims to determine the ideal ordering amount and optimize the inventory cost. The sensitivity analysis of the optimal solution for various parameters is carried out. Finally, the relationship between parameters and total inventory cost is shown in the figure.

Source: Communications on Applied Nonlinear Analysis

DOI: 10.52783/cana.v31.1406

Author: Renu Gautam

Language: English

Topic: Supply Chain and Inventory Management

Subfield: Management Information Systems

Field: Business, Management and Accounting

Domain: Social Sciences

Open Access status: diamond

OpenAlex ID: W4402461716

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