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Ghare P.M. and Scharder G.P.: “A model for exponentially decaying inventory”, J. Ind. Eng., 14 (1963), 238-243.

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Article

Inventory Management for Deteriorating Items with Salvage Value under Time Varying Demand Condition

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


American Journal of Applied Mathematics and Statistics. 2014, Vol. 2 No. 3, 160-162
DOI: 10.12691/ajams-2-3-11
Copyright © 2014 Science and Education Publishing

Cite this paper:
Srichandan Mishra, S.P. Mishra, N. Mishra, J. Panda, 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.

Correspondence to: U.K.  Misra, Department of Mathematics, N I S T, Berhampur, Odisha, India. Email: umakanta_misra@yahoo.com

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.

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