An EOQ Model with Stock and Time Dependent Consumption Rate with Shortages under Inflationary Environment

  • Yogendra Kumar Rajoria Department of Mathematics, Graphic Era University, Dehradun, India
  • Seema Saini Department of Mathematics, Graphic Era University, Dehradun, India
  • Anand Chauhan Department of Mathematics, Graphic Era University, Dehradun, India
Keywords: Inflation, Time value of money, Time horizon

Abstract

In this paper, we developed an Economic order quantity model for decaying goods with stock and time reliant demand rate under inflationary environment and time discounting over a fixed time horizon. Shortages are also permitted and are partially backordered. The results are discussed with a numerical example and particular cases are also discussed briefly.

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Published
2016-09-22
Section
Articles