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An EOQ model for seasonal product with ramp-type time and stock dependent demand, shortage and partial backorder

Author

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  • Prokash Mondal
  • Pritha Das
  • Sudhansu Khanra

Abstract

This study analyses an EOQ model for a seasonal product with ramp-type time and stock dependent demand function under permissible shortages. In the model, deterioration of seasonal products is considered with partial backlog, variable backlog rate, and backlog rate as a function of time until the next replenishment partial backlogging and the backlogging rate is variable and is dependent on waiting time for the next replenishment. Using the optimal control approach, we analytically derive the optimal total average cost and inventory strategy for the retailer over a finite time horizon. We analytically determine the best total average cost and inventory strategy for the merchant over a limited time horizon using the optimal control approach. A numerical application and sensitivity analysis demonstrate practical applicability.

Suggested Citation

  • Prokash Mondal & Pritha Das & Sudhansu Khanra, 2024. "An EOQ model for seasonal product with ramp-type time and stock dependent demand, shortage and partial backorder," International Journal of Mathematics in Operational Research, Inderscience Enterprises Ltd, vol. 27(3), pages 393-413.
    • Handle: RePEc:ids:ijmore:v:27:y:2024:i:3:p:393-413
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