An Inventory Production Model for Deteriorating Items Allowing Price Discount with Permissible Delay in Payments

The present Paper deals with an inventory production policy for a ramp type deteriorating item over finite planning horizon constant demand, rate and shortages are not allowed. optimal number of cycles that minimizes the average system cost is determined. model permits shortage in each cycle, which completely backlogged within cycle itself. Every starts zero stock production. As continues, begins to accumulate after meeting current demands. excess accumulated during period used account demand deterioration no-production period. Numerical examples, tables, final concluding remarks discussed subsequent sections. example solved by using Mathematica software.