An EOQ Model with Stock and Time Dependent Consumption Rate with Shortages under Inflationary Environment
Keywords:
Inflation, Time value of money, Time horizonAbstract
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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