An Inventory Model for Weibull Distributed Deteriorating Items Under Ramp Type Demand and Permissible Trade Credit Policy

In a classical inventory economic order quantity (EOQ) model, the stock is depleted due to both market demand and deterioration. Many inventory models are developed for items under variable rate of deterioration. The two parameter Weibull distributed term is a representation of constant, time dependent linear and non-linear, increasing and decreasing rate of deterioration.