International Research journal of Management Science and Technology

  ISSN 2250 - 1959 (online) ISSN 2348 - 9367 (Print) New DOI : 10.32804/IRJMST

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MODELING OF AN INVENTORY MODEL WITH TIME AND STOCK DEPENDENT DEMAND AND WEIBULL DISTRIBUTED DETERIORATION

    2 Author(s):  KAMAL KUMAR,ASHOK KUMAR

Vol -  3, Issue- 3 ,         Page(s) : 319 - 335  (2012 ) DOI : https://doi.org/10.32804/IRJMST

Abstract

In the present competitive market, the selling price of a product is one of the decisive factors in the selecting the item for use through there is a market for some fashionable goods irrespective of their prices. In practice, higher selling price of a product negates the demand whereas reasonable or low price has the reverse effect. In this chapter, an EOQ (Economic Order Quantity) model is discussed with time and stock dependent demand rate for a single item as we feel that demand can be best represented by function of stock and time.

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