Application of memory effect in an inventory model with price dependent demand rate during shortage

Автор: Rituparna Pakhira, Uttam Ghosh, Susmita Sarkar

Журнал: International Journal of Education and Management Engineering @ijeme

Статья в выпуске: 3 vol.9, 2019 года.

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The purpose of this paper is to establish the memory effect in an inventory model. In this model, price dependent demand is considered during the shortage period. Primal geometric programming is introduced to solve the minimized total average cost and optimal ordering interval. And finally we have taken a numerical example to justify the memory effect of this type inventory system. From the result it is clear that the model is suitable for short memory affected business i.e. newly started business.

Fractional order derivative, Classical inventory model, Fractional order inventory model with memory kernel

Короткий адрес: https://sciup.org/15015806

IDR: 15015806 | DOI: 10.5815/ijeme.2019.03.05

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