Analytical model assesses demand and holding costs in inventory systems, indicating potential for optimized management.
In this study, the inventory model for delayed deteriorating items with lead time, price dependent demand and Quadratic time dependent holding cost were developed. The proposed model assumes a price dependent demand before deterioration begins and constant demand rate at the onset of deterioration and beyond. Shortages are allowed and completely backlogged. The mathematical model developed is analytically solved and an iterative method is employed to find its numerical solution. Examples on the application of the model are provided and sensitivity analysis on some selected system parameters carried out.
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Umar et al. (2025) studied this question.
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