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Research Journal of Pharmacy and Technology
Year : 2018, Volume : 11, Issue : 12
First page : ( 5247) Last page : ( 5252)
Print ISSN : 0974-3618. Online ISSN : 0974-360X.
Article DOI : 10.5958/0974-360X.2018.00957.5

An Optimal Ordering Pharmaceutical Inventory Model for Time Varying Deteriorating Items with Ramp Type Demand

Sharma Manoj Kumar*, Srivastava V. K.

Department of Mathematics, Uttaranchal University, Dehradun-248007, Uttarakhand, India

*Corresponding Author E-mail: manojsharmamath1984@gmail.com

Online published on 18 May, 2019.

Abstract

In this present paper we developed an economic order quantity (EOQ) inventory model for healthcare industry. We consider time varying deteriorating items with a constant and time dependent demand rate, constant holding cost without shortage. Here two numerical examples are used to explain the significance of the model. Sensitivity analysis with graphs of the optimal solution with respect to various parameters is carried out to see the effect of parameter changes on the solution.

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Keywords

EOQ, Ramp type demand, time varying deteriorating items, shortage, weibull distribution.

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