Preservation Technology Used Hybrid Price, Stock Dependent Demand Inventory Model with Partial Backlogging and Advance Payment Related Discount Facilities

Abstract

The objective of the present research is to figure out the best inventory management approach for decaying products with hybrid demand that is depending on credit period and selling price while facing some backlog. Two separate backlog rates are taken in this paper and shortages are partially permitted. The pre-payment policy with discount facilities and set preservation technology are added in this model. This type of model is formed by differential equations, which we may solve to get the model's average profit. Results of the profit functions non-linear the achievement challenge have been calculated with concavity and optimal outcomes need to verify optimum performance. With the help of MATHEMATICA software we determine the best solution of TC (total cost) and also graph of the function. Finally, a sensitivity assessment is performed out to discover how different factor variations affect the best way to take strategy.