An Inventory Model for Deteriorating Items Having Seasonal and Stock-Dependent Demand with Allowable Shortages

This paper deals the problem of single deteriorating item, with stock-dependent and seasonal pattern demand rate. It is considered that a constant part of on-hand inventory deteriorates per unit of time. The model is solved for finite time horizon. The aim of this present paper is to give a new height to the inventory literature on stock-dependent and seasonal demand pattern. This paper can be applied in many realistic situations. Shortages are allowed and three different conditions of backlogging are discussed in this model. The purpose of this study is to optimize the overall cost of the system and to find out the optimal ordering quantity. To explain the model and its significant features a numerical illustration and sensitivity analysis with respect to different related parameters is also cited.