OPTIMAL CONTROL OF AN INVENTORY SYSTEM WITH VARIABLE DEMAND & AMELIORATING / DETERIORATING ITEMS
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Abstract
In this paper
we discuss the development of an inventory model for ameliorating items. Generally fast growing animals like duck, pigs, broiler etc. in poultry farm, high-bred fishes are these types of items. This paper investigates an instantaneous replenishment model for the above type of items under cost minimization. A variable type of demand rate with infinite time horizon, constant deterioration and without shortage in considered. The
result in illustrated with numerical example.
AMS Classification No: 90B05
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