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Research Journal of Engineering and Technology
Year : 2017, Volume : 8, Issue : 3
First page : ( 213) Last page : ( 218)
Print ISSN : 0976-2973. Online ISSN : 2321-581X.
Article DOI : 10.5958/2321-581X.2017.00034.4

Quadratic Demand based Inventory Model with Shortages and Two Storage Capacities System

Malik A K1, Chakraborty Dipak2, Kumar Satish3,*

1Associate Professor, Department of Mathematics, B.K. Birla Institute of Engineering and Technology, Pilani, Rajasthan, India, ajendermalik@gmail.com

2Research Scholar, Department of Mathematics, Singhania University, Pacheribadi, Jhunjhunu, Rajasthan, India, dipakchakraborty1963@gmail.com

3Associate Professor, Department of Mathematics, D. N. College, Meerut, Uttar Pradesh, India

*Corresponding Author Email: skg22967@gmail.com

Online published on 24 May, 2018.

Abstract

In this paper, a quadratic demand based deterministic inventory control model having shortages with two storage capacities system is developed. Inventory is a multi-model business environment for an industry or any business organization. Propose an applicable mathematical model used different technical, constant and variable parameters are assumed like storage capacity, carrying cost, deterioration cost and backlogging cost. Here we take the range of the inventory cycle to get the minimizing complete inventory cost includes positive and negative inventory level. Further, complexity and non-linearity of the developed mathematical model, optimizing techniques are used to solve this and by the help of an example to demonstrate the parameters effects on total inventory cost.

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Keywords

Quadratic demand, deterioration, carrying cost, Own warehouse and Rent warehouse.

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