Volume 9 | Issue 3 | Nov 2024

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 Abstract

This paper explores inventory models that deal with deteriorating products, a key concern in industries where goods degrade over time, such as food, pharmaceuticals, and perishable goods. Unlike traditional inventory models that assume products do not deteriorate or expire, models for deteriorating products must account for the reduction in the usable stock over time. This paper investigates various inventory models, including economic order quantity (EOQ) models, that incorporate product deterioration, the impact of deterioration rates, and external factors such as demand patterns and replenishment strategies. By reviewing classical models and modern advancements, the paper aims to provide a comprehensive understanding of how to optimize inventory management for deteriorating products.

 Keywords

Deteriorating products, inventory management, economic order quantity (EOQ), inventory control, perishable goods, deterioration rate, stock management.

 Authors and Affiliations

Sona Singh Chawda
Research Scholar, Department of Mathematics, Eklavya University, Damoh, Madhya Pradesh, India
Dr. Gopi Sao
Associate Professor, Department of Mathematics,Eklavya University, Damoh, Madhya Pradesh, India
Sapna Tamrakar
Research Scholar, Department of Mathematics, Eklavya University, Damoh, Madhya Pradesh, India

 References

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  License

Creative Commons Attribution 4.0 and The Open Definition

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