Analytical Study of Inventory Model with Bi-quadratic Demand and Weibull Distributed Deterioration Rate Suman1,*, Kumar Vinod2,** 1Department of Mathematics, School of Applied Sciences, Om Sterling Global University, Hisar-125001 2Professor & Head, Department of Mathematics, School of Applied Sciences, Om Sterling Global University, Hisar-125001 *E-mail : sumanmth191@osgu.ac.in
**kakoriavinod@gmail.com
Online Published on 12 December, 2023. Abstract The present work is an attempt to investigate an inventory model for decomposing items or products with bi-quadratic demand over time by using Weibull distribution as deterioration rate along with Shortages. The demand function is convex and provides best solution. To demonstrate the convexity of this model a three-dimensional graphical representation is being presented. An illustration is provided to double-check the model. The solution has been subjected to the sensitivity analysis concerning main parameters and the results have been presented. Top Keywords Deterioration, Biquadratic demand, Shortages, Weibull distribution, Total Inventory Cost. Top |