INVENTORY MODEL HAVING PRICE DEPENDENT DEMAND AND PERMISSIBLE DELAY IN PAYMENTS UNDER LEARNING EFFECT FOR DETERIORATING ITEMS

It is repeatedly observed that deterioration of material commodities is one of the major issues in any inventory and construction structure. Therefore the loss due to deterioration cannot be unnoticed. A mathematical model is developed with permissible delay in payments and price dependent demand for deteriorating items . Learning effect is also considered in the model. A solution method is provided to exemplify the proposed model. Further to demonstrate the model, numerical example is used. Finally, the sensitivity analysis has been carried out to study the impact of variations in the values of different parameters.