A Multi – Item Inventory Pricing Model With A Rate Of Production Proportional To The Rate Of Power Demand

Abstract

Customers are more likely to buy more in real life if the product is more readily available. We develop an inventory model for inventory-dependent demand with various holding cost functions in this paper. When demand corresponds with the law of power and varies with time, this paper provides a monetary lot size model, which is suited for many real-life situations.The rate of output is considered to be proportionate to the demand rate. We further suppose that, because demand is price-sensitive, demand declines linearly with price. The goal is to maximize the total profit characteristic while accumulating the highest quality values of schedule period, reorder point, and price.The most appropriate choice has been proven, and it is to raise overall stock revenue and choose the best variables. The suggested model is determined through numerical calculation.