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An Inventory Model for Product Life Cycle With Defective Items

S. Panayappan, C. Krishnamoorthi


To manage inventory, the classical economic order quantity (EOQ) equation can be used to decide how much to order. The EOQ is the order quantity that theoretically minimizes the total of the cost of ordering and holding inventory and it assumes that the demand is constant, does not vary over time. This paper deals with an inventory model for product life cycle with and without defective items for a single product manufacturing /purchasing system. The defective rate is considered as a variable of known proportions. The objective is to minimize the total net inventory cost and optimal quantity in product life cycle. the relevant model is built, solved and some main results about the uniqueness of this solution with the use of rigorous mathematical methods, are obtained. An illustrative example is provided.


Inventory, Cycle time, Optimality, Demand and Production.

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