Research on the Comprehensive Cost of Secondary Demand Inventory Model
DOI:
https://doi.org/10.53469/jrse.2024.06(10).05Keywords:
Inventory, demand, holding cost, ordering costAbstract
In this inventory model, we developed an inventory system having the time varying demand. The deterioration of items is not considered in this inventory model. The rate of inventory is a combined effect of time and demand. Shortages are also not considered in this model. Holding cost, ordering cost are major effective costs in this model. My aim in this model to study of the total cost to minimize with reference of parameters used in this model, that is major objective of any industry for establishment of business. For validation of the model, the numerical example is also illustrated in the end of study.
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