American Journal of Applied Mathematics and Statistics. 2014, 2(3), 160-162
DOI: 10.12691/AJAMS-2-3-11
Inventory Management for Deteriorating Items with Salvage Value under Time Varying Demand Condition
Srichandan Mishra1, S.P. Mishra2, N. Mishra3, J. Panda4, 5 and U.K. Misra6,
1Department of Mathematics, Govt. Science College, Malkangiri, Odisha, India
2Swarnamayee Nagar, Berhampur, Odisha, India
3Department of MBA, Berhampur University, Berhampur, Odisha, India
4Department of Commerce, Berhampur University
5Department of Mathematics, Odisha, India
6Department of Mathematics, N I S T, Berhampur, Odisha, India
Pub. Date: May 21, 2014
Cite this paper
Srichandan Mishra, S.P. Mishra, N. Mishra, J. Panda and U.K. Misra. Inventory Management for Deteriorating Items with Salvage Value under Time Varying Demand Condition.
American Journal of Applied Mathematics and Statistics. 2014; 2(3):160-162. doi: 10.12691/AJAMS-2-3-11
Abstract
In this paper we discuss the development of an inventory model for deteriorating items which investigates an instantaneous replenishment model for the items under cost minimization. The salvage value is incorporated to the deteriorated units. The result is illustrated with numerical example.
Keywords
demand, optimal control, salvage value, inventory system
Copyright
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