An inventory model with quadratic demand pattern and deterioration with shortages under the influence of inflation

Abstract

The objective of this model is to investigate the inventory system for perishable items with quadratic demand pattern where time-dependent deterioration is considered. The Economic order quantity is determined for minimizing the average total cost per unit time under the influence of inflation and time value of money. The influences of inflation and time-value of money on the inventory system are investigated with the help of some numerical examples.