Overview of Advancement of Inventory Models for Deteriorating Items with Time Based Uniform Price

DOI

No DOI

Published In

Volume 4, Issue 1 (2023)

Published Online

January-February 2023

Pages

14-18

Article Type

Research Article

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Abstract: A Inventory control describes the items, products, or stocks kept indefinitely to meet the anticipated demand. In reality, however, the shelf's life span is impossible due to deteriorated items. The quality of the items (like fruits, vegetables) improves each day, and after a specific time, customers aren't inclined to purchase the items to consume. The decrease in the standard of the product is referred to as deterioration. Different researchers such as Gregory P.1 Fred Raafat2, S. K. Goyal3& B. C. Giri, N. Khanlarzade4 et.al, L. Janssen, T. Claus & J. Sauer5, J. Kaushik6 with A. Sharma have been involved in inventory modeling, using an alternative method of calculating demands, functions as well as assumptions. Deterioration is a frequent cause of loss for retailers, and we present an exhaustive review of constant order and time-dependent requests in inventory models for deteriorating items. We focused on models for inventory with various demand patterns, such as ramp type, linear trapezoidal, etc., in our current research. A comprehensive list of references is included to assist readers in exploring the subject of their interest. Mathematics Subject Classification(MSC2022): 90B05