An Inventory Model for Weibull Deteriorating Items with Price Dependent Demand and Time-Varying Holding Cost

Abstract

This paper deals with development of an inventory model when the deterioration rate follows Weibull two parameter distributions. Here it is assumed that demand rate is a function of selling price and holding cost is time dependent. With shortage and without shortage both cases have been taken care of in developing the inventory models. Shortages are completely backlogged whenever they are allowed. The results are illustrated with the help of numerical examples. The sensitivity analysis for the model has been performed to study the effect changes of the values of the parameters associated with the model.