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An inventory model for non-instantaneous deteriorating products having

price sensitive demand and partial backlogging of occurring shortages

Article in International Journal of Operations and Quantitative Management · March 2018

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 An Inventory Model for Non-Instantaneous
Deteriorating Products having Price Sensitive Demand
and Partial Backlogging of Occurring Shortages
Mohit Rastogi
Prashant Kushwah
Banasthali University
(mohitrastogi84@[Link])
Volume 24, Number 1 ([Link]@[Link])
March 2018, pp. 59-73 S. R. Singh
CCS University
(shivrajpundir@[Link])

In today’s competitive market, there are some products which maintain their
quality for a certain period of time and after that deterioration occurs in
such products, so the assumption that products begin to deteriorate as they
are received in stock is not true in general. This paper presents an EOQ
model for non-instantaneous deteriorating items having price-sensitive
demand with partially backlogged shortages. The backlogging rate is
assumed to be time dependent. This paper aids the retailer in maximizing the
unit time profit by finding optimal selling price and optimal time interval.
Finally, a numerical example with sensitivity analysis is given to demonstrate
the developed model.
Keywords: Non-Instantaneous Deterioration, Price Sensitive Demand, EOQ
Model, Shortages, Partial Backlogging

1. Introduction
In modern years, most widely studied problem is upholding of inventories of
deteriorating items. Commonly, deterioration is termed as the spoilage, damage,
dryness and vaporization, etc., that reduces the usefulness of goods. Generally
inventory system is analyzed without taking into account the effects of deterioration;
but, radioactive materials, highly volatile substances, etc., are those items in which
the role of deterioration cannot be overlooked.
Firstly, Ghare and Schrader (1963) established an EOQ model for decaying
inventory with constant demand. Philip (1974) introduced an inventory model with
Weibull rate of deterioration with no shortages. Philip’s (1974) model was extended
by Shah (1977) with shortages and complete backlogging. Deb and Chaudhuri
(1986) suggested a model in which rate of deterioration is considered as time-
dependent. Aggarwal and Bahari-Hashani (1991) investigated a model for constantly
deteriorating products. For deteriorating items, an order-level inventory model was
discussed by Mandal and Pal (1998). In this model rate of deterioration was taken as
constant and shortages were not allowed. Papachristos and Skouri (2003) proposed
an inventory model time-dependent partial backlogging and quantity discount for
deteriorating items. Manna and Chaudhary (2006) presented an optimal ordering
quantity inventory model with time dependent deterioration and allowable shortages.
60 International J. of Opers. and Quant. Management

In above discussed literature, all the inventory models for deteriorating items
assume either deterioration as constant or the deterioration of inventory items starts
as soon as they arrive in stock. But in reality there are so many goods which retain
their value for a certain time and afterward they begin to deteriorate. For illustration,
initial stock of fruits or vegetables has a superior quality at the starting and during
this stage no spoilage is incurred. After that, the stock begins to depart quality, and
includes the cost of deterioration. Such types of products are known as non-
instantaneous products. We have incorporated this conception of non-instantaneous
deterioration in our study. The phenomenon of non-instantaneous deterioration was
introduced by Wu et al. (2006). The authors studied an optimal replenishment policy
considering partial backlogging and demand as stock-dependent for non-
instantaneous deteriorating items. After that, by considering permissible delay in
payment, an inventory model was explored by Ouyang et al. (2006) for non-
instantaneously deteriorating items. Sugapriya and Jeyaraman (2008) suggested an
EPQ model with non-instantaneous deteriorating items by considering that holding
cost varies with time. This model was developed for constant demand rate. Manna et
al. (2009) discussed EOQ model for deteriorating items with non-instantaneous
deterioration and time dependent demand. Geetha and Uthayakumar (2010) studied
inventory policy for non-instantaneously deteriorating products by considering
permissible delay in payments. Tat et al. (2014) considered an EOQ model to study
the vendor-managed inventory system for non-instantaneous deteriorating items.
Tayal et al. (2015) presented an economic production quantity inventory model for
non–instantaneous deteriorating item with exponential demand rate. Singh and
Rathore (2015) developed a reverse logistic model for deteriorating items with non-
instantaneous deterioration and time dependent demand rate under learning effect.
Tiwari et al. (2016) studied retailer's ordering policies for non-instantaneous
deteriorating items in a two-warehouse environment. The aim of study was to
compute optimal replenishment policies of retailer that maximize the total profit per
unit time. Shortages were backlogged partially in their model.
In last decades, many inventory practitioners broadly studied numerous facets of
inventory modelling by assuming demand rate as constant. However in realism,
demand of an item has been, for all time, in a dynamic state. Various demand
patterns have been used in the inventory modeling such as constant, time dependent,
stock dependent and selling price dependent but the selling price of the products is
most affecting factor of demand as firms may vigorously regulate their prices to
enhance demand and increase incomes. The selling price factor accounts for the fact
that an increase in the selling price of the commodity discourages a repeat demand.
Hence from a managerial point of view it is necessary to take care of selling price
factor which affects the profit quickly.
Burwell et al. (1997) presented an economic lot size model for price-dependent
demand under quantity and freight discounts. Wee (1997) studied a replenishment
policy for items with a price-dependent demand and a varying rate of deterioration.
Mondal et al. (2003) developed an inventory system of ameliorating items for price
dependent demand rate. An EOQ model with two parameters, Weibull distribution
deterioration and price-dependent demand, was developed by Mukhopadhyay et al.
(2005). Roy (2008) presented an inventory model for deteriorating items with price
dependent demand and time varying holding cost. Singh et al. (2011) introduced a
soft computing based inventory model with deterioration and price dependent
Rastogi, Kushwah, Singh 61

demand. Shastri et al. (2014) presented an integrated defective production model for
impatient customers with price dependent demand and under the effect of learning.
Tayal et al. (2015) introduced an inventory model for deteriorating items with
seasonal products and an option of an alternative market. In this model the demand
for the products was taken as a function of price and season. Sharma et al. (2015)
established an inventory model for deteriorating products with price sensitive
demand and shortages. Singh and Vandana (2016) presented an integrated
production-inventory model by considering selling price dependent demand rate. But
authors assumed deterioration rate as constant in their study. Rastogi et al. (2017b)
proposed two warehouses inventory policy with price dependent demand and
deterioration under partial backlogging. Recently, Rastogi and Singh (in press)
presented a production model by considering selling price dependent consumption
rate under inflationary environment. In this model production rate was considered as
a function of occurring demand.
Mostly researchers considered the occurring demand during stock out as
completely lost/completely backlogged. But, in general the occurring demand during
stock out is partially backlogged/partially lost. Since several realistic experiences
divulge that some customers are ready to wait to complete their demand up-to the
next replenishment while other impatient customers make their purchases from any
other place. Moreover, the opportunity cost, because of lost sales, should be careful
since a few customers would not like to wait for backlogging throughout the periods
of shortage. Thus, while developing inventory models where shortages are permitted,
it is logical to consider that some of the excess demand is backordered and some will
be lost.
Chang and Dye (1999) developed an economic order quantity model for
deteriorating items with time varying demand and partial backlogging. Dye et al.
(2007) studied pricing and ordering policy with constant rate of partial backlogging
for deteriorating products. Singh et al. (2009) presented an economic order quantity
model for perishable items with power demand and partial backlogging. Singh et al.
(2010) developed a volume flexible inventory model for defective items with
multivariate demand and partial backlogging. Taleizadeh and Pentico (2103)
introduced an economic order quantity model with a known price increase and
partial backordering. Tayal et al. (2014) presented a two echelon supply chain model
for deteriorating items with effective investment in preservation technology.
Shortages were allowed in this model and were partially backlogged. For
deteriorating items, Singh et al. (2016) studied an inventory model with stock
dependent and seasonal pattern demand. Shortages were allowed and different
conditions of backlogging were discussed in this model. Rastogi et al. (2017a)
suggested an EOQ model under credit limit policy by considering variable holding
cost. In this model shortages were allowed and the happening shortages were
partially backlogged. Also, backlogging rate was taken as a function of waiting time.
Although lots of inventory practitioners considered non-instantaneous
deterioration in their work but less attention has been paid by the researchers on
incorporating non-instantaneous deterioration with price sensitive demand and
partial backlogging. In lots of realistic circumstances, through stock out, longer the
waiting time, lesser would be the rate of backlogging. Thus for handy business
purposes, rate of backlogging should be variable and dependent upon the waiting
time for the next replenishment. So, in this present model we combine all mentioned
62 International J. of Opers. and Quant. Management

factors with the selling price dependent demand, to make the study more practical.
This is an EOQ inventory model for non-instantaneous deteriorating products with
price sensitive demand and allowable shortages. The occurring shortages are
partially backlogged and backlogging rate is considered as time dependent. A
numerical example and sensitivity analysis concerning with various system
parameters are given to illustrate the model. Finally, a conclusion and further
extension of this model are mentioned.

2. Assumptions and Notations

2.1 Assumptions
In order to develop present model, some specific assumptions used are given below
1. Demand for the products is a function of selling price and is given by: D (p) =


p
.
2. Shortages are allowed and partially backlogged.
3. The rate of backlogging is a function of waiting time up to the next arrival 

and is given by :     = 1− ,0≤η≤T
4. Deterioration in the items starts after a fix time as products discussed here are
non-instantaneous in nature.
5. Model is developed for finite time horizon.
6. There is no replacement policy for deteriorated items.

2.2 Notation
The following notation is used throughout this model.
 Initial demand coefficient
p selling price per unit for the product
 Constant,   1
K Rate of deterioration
t1 Time up-to which there is no deterioration in the products
v length of time in which no inventory shortage
T Time horizon
h Holding cost per unit
d Deterioration cost per unit
A Ordering cost per order
s Shortage cost per unit
l Lost sale cost per unit
I1(0) Initial inventory level
Q2 Backordered quantity during shortages
c1 Purchasing cost per unit
 Waiting time up-to the next replenishment
𝜃 Rate of backlogging
U.T.P. Unit time profit
Rastogi, Kushwah, Singh 63

3. Mathematical Formulation of the Model

For retailer, I1 (0) denotes initial inventory level. For the duration [0, t1] inventory
decreases after satisfying the occurring demand only, because products discussed
here follow non-instantaneous nature. After that up-to t=v, inventory level reduces
by the reason of demand and deterioration. Inventory level becomes zero at t=v and
afterward shortages take place. The happening shortages for the duration of [v, T] are
partially backlogged where backlogging rate is waiting time dependent. The
depletion of inventory is presented in the Figure1.

Inventory

I1(0)

t T Time
0 v
1
Figure 1 Inventory Time Graph for the Retailer

The differential equations showing the behavior of inventory with time are as
follows

d I1 (t )  0  t  t1 (1)
  
dt p

d I 2 (t )
 

 K tI 2 (t ) t1  t  v (2)

dt p

d I 3 (t ) 
  
v  t T (3)
dt p

With boundary conditions

I 2 (v )  I 3 (v )  0 (4)
Solution of above mentioned differential equations are given by
2
t1
  K K
I1 (t )  
( t1  t )  
{ ( v  t1 )  (v
3 3
 t1 )} e 2 0  t  t1 (5)
p p 6

2
t
 K K
I 2 (t )  
{(v  t )  (v
3 3
 t )}e 2 t1  t  v (6)
p 6


I 3 (t )  
(v  t ) v  t  T (7)
p
The unit time profit for the presented model is
64 International J. of Opers. and Quant. Management

U .T . P . 
1 [Sales revenue – holding cost – deterioration cost – ordering cost –
T
shortage cost – lost sale cost] (8)
1
U .T . P .  [ R ( v , p )  H .C .( v , p )  D .C .( v , p )  O .C .  S .C .( v , p )  L . S .C .( v , p ) ] (9)
T

R ( v , p )  ( I 1 ( 0 )  Q 2 )( p  c1 ) (10)
From equation (5)
2
t1
  K K
I1 (0 )  
t1  
{ ( v  t1 ) 
3
( v  t1 )} e
3 2 (11)
p p 6


T
T
  
Q2   
 ( ) d t   1  dt Q2  
(T
2
 v )
2
(12)
v
p p v
T 2p T

Then from equation (10)

2
t1
  K 3 3
K  2 2 (13)
R (v, p )  { 
t1  
{ ( v  t1 )  (v  t1 ) } e 2
 
(T  v ) } ( p  c1 )
p p 6 2p T

Holding Cost
t1 v

H .C .  h  I 1 ( t ) d t  h  I 2 ( t ) d t
0 t1

2
2 t1 2
 h t1  h t1 K 3 3
K  v K 4 K 4
H .C .  
 
{ ( v  t1 )  ( v  t1 )} e 2
 h{ 
(  v ) 
v 
p 2 p 6 p 2 8 24 p

2 4 3 4
 t1 K 3 t1  K v t1 t1 (14)

( ( v t1  )  ( v t1  ))  
(  )}
p 2 6 4 2 p 3 4

Deterioration Cost
v

D .C .  d { I 1 ( 0 )   p

d t}
0
2
K t1
  K 
D .C .  d { 
( t1  v )  
(( v  t 1 )  (v
3
 t1 ) ) e
3 2
} (15)
p p 6

Ordering Cost
O .C .  A (16)
Shortage Cost
Shortage cost for this model can be calculated as
T

S .C .  s  
dt
0
p

s
S .C .  
(T  v ) (17)
p

Lost Sale Cost

The lost sale cost is given by
Rastogi, Kushwah, Singh 65

T

L . S .C .  l  
(1   ( ) ) d t
v
p

l
L . S .C .  
(T  v )
2
(18)
2p T

So unit time profit can be represented by the equation

2
t1 2
1   K 3 3
K  2 2  h t1
U .T . P .( v , p )  {{ 
t1  
{ ( v  t1 )  (v  t1 )} e 2
 
(T  v )} ( p  c 1 )  
T p p 6 2p T p 2
2
t1 2 2
 h t1 K 3 3
K  v K 4 K 4  t1
 
{ ( v  t1 )  (v  t1 )} e 2
 h{ 
(  v ) 
v  
(( v t 1  )
p 6 p 2 8 24 p p 2
2
4 3 4 K t1
K 3 t1 K v t1 t1   K 3 3

 ( v t1  ))  
(  )}  d { 
( t1  v )  
(( v  t 1 )  (v  t1 ) ) e 2
}
6 4 2p 3 4 p p 6

s l
A  
(T  v )  
(T  v ) }
2
(19)
p 2p T

From equation (19) we observe that U.T.P. (v, p) is a function of two variables. To
maximize U.T.P. (v, p), the optimal values of v and p can be obtained by solving the
 U .T . P .( v , p )  U .T . P .( v , p )
following equations  0 and  0 simultaneously.
v p

Provided they satisfy the following conditions of optimality

2
 U .T . P . 2
 U .T . P .
2
 U .T . P . 2
 U .T . P .
2
 U .T . P .
2
< 0, < 0 and 2
− > 0.
v p
2
v p
2
vp

4. Numerical Example
The following system parameters are used to demonstrate the model numerically.
c1  3 0 R s / u n it ,   2 5 0 0 u n its ,   1 .5, K  0 .0 1, t 1  1 5 d a y s , d  1 6 R s / u n it ,

h  0 .5 R s / u n it , A  5 0 0 R s / o r d e r , T  5 0 d a y s , s  5 R s / u n it , l  7 R s / u n it

Corresponding to these values the optimal values of p and v come out to be Rs.
38.9806 and 32.4498 days, respectively. The optimal value of unit time profit is Rs.
56.1412. The below mentioned Figure 2 presents that model is concave.

0 50

-100 40

30
40
50 20

60
10
70
80

Figure 2 Graphical Representation of Concavity of the Unit Time Profit Function

5. Sensitivity Analysis
With regard to various associated parameters a sensitivity analysis is given which is
shown below numerically as well as graphically.
66 International J. of Opers. and Quant. Management

Table 1 Effect on Optimal Solution for Distinct Values of Demand Parameter α

% change in α α v p U.T.P.
-20% 2000 32.4498 38.9806 42.9129
-15% 2125 32.4498 38.9806 46.22
-10% 2250 32.4498 38.9806 49.5271
-5% 2375 32.4498 38.9806 52.8341
0% 2500 32.4498 38.9806 56.1412
5% 2625 32.4498 38.9806 59.4482
10% 2750 32.4498 38.9806 62.7553
15% 2875 32.4498 38.9806 66.0624
20% 3000 32.4498 38.9806 69.3694

80
70
60
50
40 U.T.P.
30 α
20
10
0
2000 2125 2250 2375 2500 2625 2750 2875 3000

Figure 3 Variation in Unit Time Profit (U.T.P.) w.r.t. Demand Parameter

Table 2 Effect on Optimal Solution for Distinct Values of Demand Parameter β

% change in β β v p U.T.P.
-20% 1.2 32.4498 38.9806 188.484
-15% 1.275 32.4498 38.9806 140.804
-10% 1.35 32.4498 38.9806 104.577
-5% 1.425 32.4498 38.9806 77.0534
0% 1.5 32.4498 38.9806 56.1412
5% 1.575 32.4498 38.9806 40.2526
10% 1.65 32.4498 38.9806 28.1808
15% 1.725 32.4498 38.9806 19.0089
20% 1.8 32.4498 38.9806 12.0403

200
150
100 U.T.P.
50 β
0
1.2 1.275 1.35 1.425 1.5 1.575 1.65 1.725 1.8

Figure 4 Variation in Unit Time Profit (U.T.P.) w.r.t. Demand Parameter β

Rastogi, Kushwah, Singh 67

Table 3 Effect on Optimal Solution for Distinct Values of Holding Cost h

% change in h h v p U.T.P.
-20% 0.4 33.4989 40.2809 65.3249
-15% 0.425 33.2178 39.9325 63.0293
-10% 0.45 32.9499 39.6004 60.7322
-5% 0.475 32.6942 39.2835 58.4357
0% 0.5 32.4498 38.9806 56.1412
5% 0.525 32.2158 38.6906 53.8499
10% 0.55 31.9916 38.4127 51.5633
15% 0.575 31.7764 38.146 49.282
20% 0.6 31.5697 37.8898 47.0069

80
60
40 U.T.P.
20 h
0

Figure 5 Variation in Unit Time Profit (U.T.P.) w.r.t. Holding Cost h

Table 4 Effect on Optimal Solution for Distinct Values of Time t1

% change in t1 t1 v p U.T.P.
-5% 14.25 29.5973 35.4451 18.2619
0% 15 32.4498 38.9806 56.1412
5% 15.75 34.772 41.8588 81.0094
10% 16.5 36.6582 44.1967 98.0351
15% 17.25 38.2094 46.1193 110.15
20% 18 39.5078 47.7287 119.043
25% 18.75 40.6152 49.1013 125.725
30% 19.5 41.5767 50.293 130.829

150

100
U.T.P.
50 t1

0
14.25 15 15.75 16.5 17.25 18 18.75 19.5
Figure 6 Variation in Unit time profit (U.T.P.) w.r.t. Time t1
68 International J. of Opers. and Quant. Management

Table 5 Effect on Optimal Solution for Distinct Values of Cycle Time T

% change in T T v p U.T.P.
-20% 40 31.933 38.34 69.6113
-15% 42.5 32.0811 38.5236 65.8645
-10% 45 32.2154 38.6901 62.3859
-5% 47.5 32.3378 38.8418 59.1521
0% 50 32.4498 38.9806 56.1412
5% 52.5 32.5526 39.108 53.333
10% 55 32.6474 39.2255 50.7098
15% 57.5 32.7349 39.334 48.2546
20% 60 32.8161 39.4347 45.9532

100

50 U.T.P.
T
0
40 42.5 45 47.5 50 52.5 55 57.5 60

Figure 7 Variation in Unit Time Profit (U.T.P.) w.r.t. Cycle Time T

Table 6 Effect on Optimal Solution for Distinct Values of Ordering Cost A

% change in A A v p U.T.P.
-20% 400 32.4498 38.9806 58.1412
-15% 425 32.4498 38.9806 57.6412
-10% 450 32.4498 38.9806 57.1412
-5% 475 32.4498 38.9806 56.6412
0% 500 32.4498 38.9806 56.1412
5% 525 32.4498 38.9806 55.6412
10% 550 32.4498 38.9806 55.1412
15% 575 32.4498 38.9806 54.6412
20% 600 32.4498 38.9806 54.1412

80
60
40 A
20 U.T.P.
0
400 425 450 475 500 525 550 575 600

Figure 8 Variation in Unit Time Profit (U.T.P.) w.r.t. Ordering Cost A

Rastogi, Kushwah, Singh 69

6. Observations
1. Table 1 shows the effect of demand parameter (α) on v, p and on unit time
profit. From this Table it is noticed that as demand parameter (α) increases, v
and p remain unaffected while unit time profit increases continuously. Increase
in demand parameter (α) results in large increase in sales revenue so the total
profit increases.
2. Table 2 shows the effect of demand parameter (β) on v, p and on unit time
profit. It is noticed that with an increment in demand parameter (β), v and p
remain unaffected while U.T.P. decreases. In this situation, sales revenue
decreases and as a result, the total profit decreases.
3. Table 3 lists holding cost (h) at dissimilar points and remaining variable
unaltered. From this it is noticed that with an increment in holding cost (h), all
three variables v, p and U.T.P. show the reverse effect. The reason is that as per
unit holding cost increases, it increases the total cost of the system owing to
which the total profit decreases.
4. From Table 4 it is examined that the products which maintain their quality for
long time are more profitable.
5. Table 5 shows that with an increment in cycle time (T), the U.T.P. of the system
decreases which is according to realism. The fact is that as cycle time increases,
the costs such as holding and deterioration increase owing to which the total
profit decreases.
6. Table 6 shows that with an increment in ordering cost (A), the U.T.P. of the
system decreases which is also according to realism as ordering cost per order
increases, it increases the total cost of the system; that is why the overall profit
of the system decreases.

7. Conclusions
This paper presents an inventory model having price sensitive demand and partial
backlogging for non-instantaneous deteriorating products. We have evaluated the
solution of the model in terms of the variable v (optimal length of time in which no
inventory shortage) and selling price p and then optimized the model. Shortages are
allowed and the occurring shortages are partially backlogged. Also backlogging rate
is considered as time dependent which presents the real life situations.
A numerical example and sensitivity analysis are also cited to illustrate the model.
Result obtained from sensitivity analysis shows that the products which maintain
their quality for long time are more profitable. As the products which deteriorate
partially are suitable for sale with a lower rate whereas the wholly deteriorated items
are discarded. So retailer can decrease deterioration cost of products and can control
the demand by selling partially deteriorated products at a low-priced rate.
The proposed model can be applied in inventory control of certain non-
instantaneous deteriorating items such as food items (fruits and vegetables),
electronic components, fashionable commodities, etc. The concavity of the unit time
profit function is also shown in the model. Results are shown in tabular form as well
as graphically and observed that model is suitable for real life business situations.
The model is beneficial in retail business to maximize unit time profit where partial
backlogging occurs. This model can be extended further with different permissible
70 International J. of Opers. and Quant. Management

delay conditions and for expiry items. Also the inventory holding cost, the unit
purchase cost, and other costs can be considered as time dependent.

8. References
1. Aggarwal, V., and Bahari-Hashani, H. (1991), “Synchronized production
policies for deteriorate items in a declining market”, IIE Transactions on
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inventories”, Journal of Industrial Engineering, Vol. 14 (No. 5), pp. 238-243.
7. Geetha, K.V., and Uthayakumar, R. (2010), “Economic design of an inventory
policy for non-instantaneous deteriorating items under permissible delay in
payments”, Journal of Computational and Applied Mathematics, Vol. 233 (No.
10), pp. 2492-2505.
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type demand rate for deteriorating items”, Journal of Interdisciplinary
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demand rate, time dependent deterioration rate, unit production cost and
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instantaneous deteriorating items with time-varying demand and partial
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4 (No. 3), pp. 241-254.
11. Mondal, B., Bhunia, A. K., and Maiti, M. (2003), “An inventory system of
ameliorating items for price dependent demand rate”, Computers and Industrial
Engineering, Vol. 45 (No. 3), pp. 443-456.
12. Mukhopadhyay, S., Mukherjee, R. N., and Chaudhuri, K. S. (2005), “An EOQ
model with two parameter Weibull distribution deterioration and price-
dependent demand”, International Journal of Mathematical Education in
Science and Technology, Vol. 36 (No. 1) , pp. 25-33.
13. Ouyang, L. Y., and Wu, K. S. (2006), “A study on an inventory model for non-
instantaneous deteriorating items with permissible delay in payments”,
Computers & Industrial Engineering, Vol. 51 (No. 4), pp. 637-651.
Rastogi, Kushwah, Singh 71

14. Papachristos, S., and Skouri, K. (2003), “An inventory model with deteriorating
items, quantity discount and time-dependent partial backlogging”, International
Journal of Production Economics, Vol. 83 (No. 3), pp. 247–256.
15. Philip, G. C. (1974), “A generalized EOQ model for items with Weibull
distribution deterioration”, AIIE Transactions, Vol. 6 (No. 2), pp. 159-162.
16. Roy, A. (2008), “An inventory model for deteriorating items with price
dependent demand and time varying holding cost”, Advanced Modeling and
Optimization, Vol. 10 (No. 1), pp. 25-37.
17. Rastogi, M., Singh, S. R., Kushwah, P., and Tayal, S. (2017a), “An EOQ model
with variable holding cost and partial backlogging under credit limit policy and
cash discount”, Uncertain Supply Chain Management, Vol. 5 (No. 1), pp. 27-42.
18. Rastogi, M., Singh, S. R., Kushwah, P., and Tayal, S. (2017b), “Two warehouse
inventory policy with price dependent demand and deterioration under partial
backlogging”, Decision Science Letters, Vol. 6 (No.1), pp. 11-22.
19. Rastogi, M., and Singh, S. R. (in press), “A Production Inventory Model for
Deteriorating Products with Selling Price Dependent Consumption Rate and
Shortages under Inflationary Environment” International Journal of
Procurement Management.
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items,” AIIE Transactions, Vol. 9, (No.1), pp. 108–112.
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items with price sensitive demand and shortages”, International Journal of
Operational Research, Vol. 23 (No. 2), pp. 245-255.
22. Shastri, A., Singh, S. R., and Gupta, S. (2014), “Integrated defective production
model for impatient customers with price dependent demand under the effect
learning”, International Journal of Mathematics in Operational Research, Vol.
6 (No. 5), pp. 589-609.
23. Singh, S. R., and Gupta, V. (2016), “Vendor-buyer model with error in quality
inspection and selling price dependent demand rate under the effect of volume
agility” International Journal of Operations and Quantitative Management, Vol.
22 (No. 4), pp. 357-371.
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inventory model with deterioration and price dependent demand”, International
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25. Singh, S. R., Rastogi, M., and Tayal, S. (2016), “An inventory model for
deteriorating items having seasonal and stock-dependent demand with allowable
shortages”, Advances in Intelligent Systems and Computing, Vol. 437, pp. 501-
513. DOI: 10.1007/978-981-10-0451-3_46.
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items with non-instantaneous deterioration and learning effect”, Information
Systems Design and Intelligent Applications, Vol. 339, pp. 435-445. DOI:
10.1007/978-81-322-2250-7_43.
27. Singh, S. R., Singhal, S., and Gupta, P. K. (2010), “A volume flexible inventory
model for defective items with multivariate demand and partial backlogging”,
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72 International J. of Opers. and Quant. Management

28. Singh, T. J., Singh, S. R., and Dutt, R. (2009), “An EOQ model for perishable
items with power demand and partial backlogging”, International Journal of
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managed inventory (VMI) system”, Journal of Industrial and Systems
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deteriorating items with seasonal products and an option of an alternative
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33. Tayal, S., Singh, S. R., Sharma, R., and Chauhan, A. (2014), “Two echelon
supply chain model for deteriorating items with effective investment in
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34. Tayal, S., Singh, S. R., Sharma, R., and Singh, A. P. (2015), “An EPQ model for
non-instantaneous deteriorating item with time dependent holding cost and
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35. Tiwari, S., Cárdenas-Barrón, L. E., Khanna, A., and Jaggi, C. K. (2016),
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About Our Authors

Mohit Rastogi is pursuing his Ph.D. in Mathematics from Banasthali University,

Rajasthan, India. He received his [Link]. in Mathematics from Ch. Charan Singh
University, Meerut, India. He is currently working in the field of Operational
Research, Inventory Modelling. He has published many research papers in reputed
journals and presented his work in many conferences.

Prashant Kushwah received his Ph.D. in Mathematics from Dr. Bhimrao Ambedkar
University, Agra, India. He is currently working as an Associate Professor in
Department of Mathematics & Statistics, Banasthali University, India. His areas of
 Rastogi, Kushwah, Singh 73

specialization are Cryptography, Inventory Control etc. He has published several

research articles in various national and international journals.

S. R. Singh received his [Link]. and M. Phil. in Mathematics. He holds a Ph.D. in

inventory management and is supervising several Ph.D. scholars. His areas of
specialization are inventory control, supply-chain management, and fuzzy set theory.
He has several published research papers in journals like International Journal of
System Sciences, Opsearch, Yugoslav Journal of Operations Research, International
Journal of Operational Research, International Journal of Operations and
Quantitative Management, Asia-Pacific Journal of Operational Research and others.
He is currently working as an Associate Professor in the Department of Mathematics,
Ch. Charan Singh University, Meerut, India.

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