Volume No. :   8

Issue No. :  3

Year :  2017

ISSN Print :  0976-2973

ISSN Online :  2321-581X


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



Address:   A K Malik1, Dipak Chakraborty2, Satish Kumar3*
1Associate Professor, Department of Mathematics, B.K. Birla Institute of Engineering and Technology, Pilani, Rajasthan, India

2Research Scholar, Department of Mathematics, Singhania University, Pacheribadi, Jhunjhunu Rajasthan, India
3Associate Professor, Department of Mathematics, D. N. College, Meerut, U.P., India
*Corresponding Author
DOI No: 10.5958/2321-581X.2017.00034.4

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.
KEYWORDS:
Quadratic demand; deterioration; carrying cost; Own warehouse and Rent warehouse.
Cite:
A K Malik, Dipak Chakraborty, Satish Kumar. Quadratic Demand based Inventory Model with Shortages and Two Storage Capacities System. Research J. Engineering and Tech. 2017; 8(3): 213-218.
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