An Inventory Model For Weibull Distributed Deteriorating Items With Stochastic Demand And TimeVarying Holding Cost

In the present paper, we deal with an inventory model for deteriorating items with stochastic demand in which shortages are allowed with fully backlogged. The holding cost follows the linear trended in time. Here rate of deterioration follows a two-parameter Weibull (Swedish engineer Wallodi Weibull) distribution. The demand pattern is assumed to be linearly dependent on to time with a stochastic error. The model is maximized to the total average profit by finding optimal values. The developed model is illustrated by a numerical example and finally the sensitivity analysis for the optimal solutions towards the changes in the values of key parameters has been presented.