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Modeling the Business Starting with Shortages for Deteriorating Items

並列摘要


In this paper, we have solved a problem occurring in those businesses starting with shortages. Management has the opportunity to order the stock according to customer's response. Deterioration factor has been incorporated along with time dependent demand. A theory has been developed to obtain the optimal solution to the proposed problem with valuable conclusions. A numerical example was appended and simulation study was carried out to illustrate the proposed model with managerial insights.

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