Developing a partial backlogging deteriorating inventory model with selling price dependant demand rate and cycle length dependant selling price
In this paper, we develop an inventory model with price dependant demand rate, under time value of money and inflation, finite time horizon, exponential backlogging rate and exponential deterioration rate with the objective of maximizing the present worth of the total system profit. Using a dynamic programming based solution algorithm, we are able to find the optimal sequence of the cycles and als