Eoq And Epq Inventory Models With Various Demand Functions

Abstract

Inventory control is a set of policies and operating transactions that are planned newlineto maximize the outcomes of any organization with the help of inventory. The major newlinefactors that influence the inventory are demand, inflation, and the time value of money. newlineA good inventory control system offers the benefits of the proper relationship between newlinesales and inventory. The policy of the inventory system is to maintain a proper inventory newlinelevel to suit the market demand from time to time. This system gives a proper direction newlinefor daily usages in a economizing way. Here is an effort to make a structure for decisionmaking newlineto take the exact decision by using the application of models which play an newlineimportant role in existing life. Inventory manager design such structure of inventory, newlinescheduling inventory. So, the main objective of any organization is to maximize profit newlineand minimize the cost of inventory. In the present study, we have attempted to newlineincorporate some inventory models with different business surroundings. newlineThe basic idea of the present thesis work is to study certain aspects of inventory newlinemanagement system. Particularly, the objective of the thesis is to discuss the inventory newlineEOQ models of deteriorating items with shortages and without shortages, along with newlinepartial backlogging, inflation, stock dependent, successive price discounts, permissible newlinedelay in payments, and production inventory EPQ models. Further consideration of newlineexponential and Weibull distribution under time varying and price dependent demand is newlineone of the significant works in the present study. Also amelioration being a natural newlinephenomenon in life stock inventory, so inventory model of ameliorating items is newlineincluded in the present study. newlineThe thesis deals with the contribution of the author in the field of the Inventory newlinemanagement system, a brief conclusion, and outlines some proposed models for further newlineinvestigation. newlineFirst model thus considered derives an optimal ordering policy for noninstantaneously newlinedeteriorating items under successive price discounts wi