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Vol 10, No 1:

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Inventory Model for Perishable Items with Age Dependent Demand
Abstract
Nowadays, huge stocks of products are rotten which leads to loss of entire world. Some products have a very small life period. It can be modelled by using single cycle inventory models. Here, two inventory models are presented with constant deterioration and linear deterioration rate for time dependent demand. With the help of inventory theory, inventory levels obtained for each case. These two models are solved by using Newton- Raphson method. Profits for both the models are obtained and comparisons are made between two models. At the end of the article, real life example is presented to illustrate the proposed inventory model.
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ISSN(P) 2350-0174

ISSN(O) 2456-2378

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