An Eoq Model with Ramp Type Demand Rate, Weibull Deterioration Rate and Partial Backlogging, under Inflation

In this paper, an inventory model with ramp type demand rate with inflation and time value of money is developed. The deterioration rate follows three-parameter Weibull distribution with the concept of life time of an item. Shortages are also allowed and unsatisfied demand is partially backlogged. The model is fairly general in practice, as the demand of some items such as fashionable items increases up to the time point of its stabilization. The backlogging rate is any non-increasing function of the waiting time up to the next replenishment. Numerical example is also considered to illustrate the results. Sensitivity analysis is also carried out.