INVENTORY MODEL FOR DECAYING INVENTORY WITH QUADRATIC DEMAND AND PARTIAL SHORTAGES UNDER LEARNING EFFECT

Inventory is a fundamental reserve crucial for day-today functions and it contracts with how much to maintain on-hand and when repeatedly ordered. Unrefined supplies, work-in-process inventory and completed/refined inventory are three necessary categories of inventory. The foremost point of inventory supervisor is to sustain tradeoff between the minimization of cost and maximization of the customer satisfaction or service. In this study, a model is concerned with demand rate as quadratic function of time and decaying rate of products obey Weibull distribution (two-parameters). Shortages are partially backordered. Learning effect is also studied on the various costs in this article. The backlogging rate is conversely proportional to the time of waiting. The model is solved inquisitively to get the most favourable solution. And then this model is exemplified by numerical values and sensitivity analysis