American Journal of Applied Mathematics and Statistics
ISSN (Print): 2328-7306 ISSN (Online): 2328-7292 Website: http://www.sciepub.com/journal/ajams Editor-in-chief: Mohamed Seddeek
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American Journal of Applied Mathematics and Statistics. 2014, 2(3), 160-162
DOI: 10.12691/ajams-2-3-11
Open AccessArticle

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

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