Some inventory models with integrated time department and price advertisement dependent demand

Abstract

The classical models of economic order quantity (EOQ) and economic production quantity (EPQ) are commonly employed in real-world scenarios because of their straightforwardness. These models have long been recognized as effective techniques for managing inventory. The conventional set of principles pertaining to the EOQ and EPQ models ensures that quality remains at an optimal level. However, in real-life purchasing or production scenarios, this assumption fails to accurately represent the actual circumstances. Inevitably, producing imperfect quality items will occur due to deterioration processes, changes in demand, and other associated factors. Accurately predicting demand for certain products is a complex task, as it cannot be determined solely by quadratic, linear, ramp-type, exponential, price-dependent, or stock-dependent patterns. This thesis examines models of inventory that incorporate integrating demand depending on time and price advertisement for items deteriorating in an equation of higher order. This thesis consists of five chapters. The first chapter focuses on developing an inventory model in EOQ for items that are deteriorating with integrated demand that is time dependent. The second chapter considers EOQ models in inventory with integrated demand that is dependent on price-based and growth-exponential. In the third chapter, production inventory models for items deteriorate with integrated demand depending on time. The fourth chapter studies the integrated linear and exponential demands at two rates for deteriorating production inventory models. Finally, the fifth chapter conceives of an imperfect production system with integrated demand depending on price advertising. This thesis aims to estimate the optimal cycle time, quantity, and price to maximize profit while minimizing costs. newline