A Replenishment Policy for Non-instantaneous Deteriorating Inventory System with Partial Backlogging

[[abstract]]This paper deals with the development of an inventory model for non-instantaneous deteriorating items. This paper investigates an instantaneous replenishment inventory model for the above type of items under cost minimization, considering stock-dependent consumption rate under inflation and time discounting over a finite planning horizon. In the proposed model, shortages are allowed and partially backlogged. We also show that the total cost function is convex. To determine the optimal order quantity and the optimal interval of the total cost function, a solution algorithm is presented. Finally, the model is illustrated with the help of numerical examples. Sensitivity analysis of the optimal solution with respect to various parameters of the system is carried out and the results are discussed in detail