AN ECONOMIC PRODUCTION QUANTITY MODEL WITH SELLING PRICE DEPENDENT DEMAND UNDER INFLATION AND VARIABLE PRODUCTION RATE FOR DETERIORATING ITEMS
Ritu Yadav1 , Anil Kumar Sharma2 and Subhash Yadav3
1,2Department of Mathematics, Raj Rishi College, Alwar -301001, Rajasthan, India
3Assistant Director, Commissionerate of College Education, Jaipur-302015, India
Email:email@example.com, firstname.lastname@example.org and email@example.com
(Received : February 06,2021 ; In format : April 19, 2021; Revised in final form: March 28,2022)
In this paper we have considered an economic production quantity model in which demand is assumed as a function of selling price with unsteady deterioration rate. We have considered variable production rate and the shortages are not allowed. The effect of inflation rate is also taken. Under this condition a profit function is formulated and suitable numerical examples or sensitivity analysis also provided by changing some parameters of the system.
2020 Mathematical Sciences Classification: 90B05, 90B10, 90B15, 90B30.
Keywords and Phrases: EPQ model, demand, selling price, inflation, deteriorating items, variable production rate, optimal function