Low Financing Trade Credit Inventory for High Deterioration under Time Dependent Holding Cost

Objective: Rented house owners are take policy ensure their rent for a certain period for contract of rent. Due to pandemic situation, people have of less capital and are not possible to take high decision in business. Also, many of the food products are stored in high preservation, however when a food product collected out from preservative condition high rate of deterioration are seen among foods. Method: Lower capital feature of society force to consider an inventory system for three-parameter Weibull distributed deterioration, lees capital and borrowing of item from a greater business organization. Also, for security period of rent, new type of holding is considered in the proposed inventory model. Due to consideration of three-parameter Weibull distribution deterioration objective functions are highly nonlinear and to solve the optimization problems three types of quantum behaved particle swarm optimization technique applied. Findings: Gaussian behaved particle swarm optimization (GQPSO) technique gives better optimum than other techniques. A sensitivity analyses about some inventory parameters are shown in figures and fruitful managerial insight features are given for the model. Man power management in a business and duration of business period effects directly to profit. Novelty: Holding cost is constant for a period of time then linearly time dependent. This type of holding cost is a new concept in the literature. Discount on selling price is considered when items are started to deteriorated. Also, purchase cost paid at the end of business period and free from any interest charge.