An inventory model for deteriorating items with ramp type demand pattern: a stock-dependent approach

Abstract

Efficient inventory management attracts more customers, increasing demand for perishable products such as fruits, vegetables, and jams. This study introduces an inventory model that considers stock, price, and time factors to help retailers maximize profits by determining the optimal replenishment point and inventory cycle length. The model assumes a ramp-type demand function with a constant deterioration rate, addressing different scenarios, including stock-dependent demand, no stock-dependent demand, and no time effect. The study also compares and analyses special cases to find the best solutions. Additionally, it provides numerical examples, sensitivity analysis, and comparison studies to help retailers make decisions for maximum profit and optimal replenishment periods. The study’s implications are significant for the processed food, vegetable, fruit, and grocery industries.

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