Inventory Management

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In the Inventory management study, this aspect is kept in mind in developing various models for dealing with different situations of a particular inventory model for deteriorating items with piece-wise quadratic type demand rate. A deterministic inventory model for deteriorating items with two warehouses is developed. A rented warehouse is used when the ordering quantity exceeds the limited capacity of own warehouse. It is assumed that the deterioration rates of items in the two warehouses may be different and the backlogging demand rate is dependent on the duration of the stock out. It allows for shortages in the owned warehouse. An inventory model for deteriorating items with two warehouses assuming deterioration rates in the two warehouses to differ by minimizing the net present value of the total cost. An inventory model for deteriorating items with quadratic demand, instantaneous supply and shortages is considered. Hopefully, the above discussion makes a very small yet significant contribution towards proper inventory control to enable reduce some constraints of the working capital, thus leading towards better corporate profitability and liquidity.