International E-publication: Publish Projects, Dissertation, Theses, Books, Souvenir, Conference Proceeding with ISBN.  International E-Bulletin: Information/News regarding: Academics and Research

Inventory Management Model with Quadratic Demand, Variable Holding Cost with Salvage value

Author Affiliations

  • 1 F-Civil, Dept of Mathematics, College of Military Engineering, Pune,INDIA
  • 2 GITAM School of International Business, GITAM University, Visakhapatnam, INDIA

Res. J. Management Sci., Volume 3, Issue (1), Pages 18-22, January,6 (2014)


In this paper inventory management model for deteriorating products with quadratic function of time as rate of demand. Here the deterioration is considered as weibull deterioration rate. Shortages are allowed. The salvage value is also used for deteriorated items in the system. The total cost is calculated by considering variable holding cost. Suitable values for the parameters considered in the numerical example. Sensitivity analysis is also discussed.


  1. Ghrae P.M. and Schrader G.F., An Inventory model for exponentially deteriorating items, J. of Industrial Engg, 14, 238-243 (1963)
  2. Covert R.P and Philip G.C., An EOQ model for items with Weibull distribution deterioration, AIIE Transactions, 5, 323-326 (1973)
  3. Aggarwal S.P., A note on an order-level inventory model for a system with constant rate of deterioration, Opsearch, 15, 84-187 (1978)
  4. Dave U. and Patel L.K., (T,S)- policy inventory model for deteriorating items with time proportional demand, J. of Op. Res. Society, 32, 137-142 (1981)
  5. Deb M. and Chaudhuri K., A note on the heuristic for replenishment of trended inventories considering shortages, J. of Op. Res. Society , 38, 459-463 (1987)
  6. Hariga M., An EOQ model for deteriorating items with shortages and time-varying demand, J. of Op. Res. Society, 46, 398-404 (1995)
  7. Chakraborti T. and Chaudhuri K.S., An EOQ model for items with linear trend in demand and shortages in all cycles, Int. J. of Prod. Economics, 49, 205-213 (1996)
  8. Giri B.C and Chaudhuri K.S., Heuristic model for deteriorating items with shortages, Int. J. of Sys. Sci.,28, 153-159 (1997)
  9. Goyal S.K and Giri. B.C., Recent trends in modeling of deteriorating inventory, E. J. of Op. res.,134, 1-16 (2001)
  10. Mondal B., Bhunia A.K and Maiti M., An inventory system of ameliorating items for price dependent demand rate, Comp. and Ind. Engg.,45(3), 443-456 (2003)
  11. You S.P., Inventory policy for products with price and time dependent demands, J. of Op. Res. Society., 56, 870-873 (2005)
  12. Ajanta Roy, An Inventory model for deteriorating items with price dependant demand and time-varying holding cost, AMO-Adv. Mod. and optm.,10(1), (2008)
  13. Mishra V.K and Singh L.S., Deteriorating inventory model with time dependent demand and partial backlogging, App. Math.l Sci.,4(72), 3611-3619 (2010)
  14. Vinod Kumar Mishra, Inventory model for time dependent holding cost and deterioration with salvage value and shortages, The J. of Math. and Comp. Sci., 4(1), 37-47(2012)
  15. Vikas Sharma and Rekha Rani Chaudhuri, An inventory Model for deteriorating items with Weibull Deterioration with Time Dependent Demand and shortages, Res. J. of Mgmt Sci.,2(3), 28-30 (2013)
  16. Venkateswarlu R. and Mohan R., An Inventory Model with Weibull Deterioration, Time Dependent Quadratic Demand and Salvage Value, AIMS -10, Proceedings, (2013a) Bangalore (2013)
  17. Venkateswarlu R. and Mohan R., An Inventory Model for Time Varying Deterioration and Price Dependent Quadratic Demand with salvage value, Ind. J. of Computational and App.d Math.,1(1), 21-27 (2013b)
  18. Mohan R and Venkateswarlu R., Inventory Management Models with Variable Holding Cost and Salvage Value, IOSR J. of Busi. and Mgmt (IOSR-JBM), 12(3), 37-42(2013a)
  19. Mohan R. and Venkateswarlu R., Inventory Model for Time Dependent Deterioration, Time Dependent Quadratic Demand and Salvage Value (J of In. Math.Socy, (In press)(2013b)