A Production Inventory Model for Deteriorating Products with Multiple Market and Selling Price Dependent Demand
This paper presents an inventory model for deteriorating items that have a single manufacturer but multiple market demands for a finite planning horizon. For the market, different selling seasons are considered. It is a production inventory model, which has a demand rate dependent on the selling price. Here, we have presented a solution-search procedure to find the optimal replenishment policy for raw material and optimal production time. The model is illustrated using a numerical example. Further; sensitivity analysis is also performed to check the stability of the model.
