Linear and Nonlinear Time-Dependent Deteriorated Inventory Control Model

Abstract

Inventory models are quite important when it comes to analyzing scenarios that occur in a variety of areas, including food, warehouses, vegetable markets, and other similar places. Within the scope of this study, we investigate both a linear and a nonlinear time-dependent inventory control model for things that are deteriorating. When it comes to conducting business in the modern day, the relationship that exists between retailers and customers is absolutely necessary for successful implementation. Consumers engage in commercial transactions with retailers in order to buy goods with the intention of increasing their earnings. The goal of this study is to calculate the number of times demand orders are placed by customers throughout the rotation time in order to achieve the highest possible overall profit for both the client and the merchant, both with and without the use of collaboration. In addition, it intends to investigate the disparity between the total profit obtained by the customer and the merchant in two different scenarios. Using analytical methods, the proposed model is evaluated in order to obtain the best possible solution to the problem. In the following section, a numerical example and a comparison study are discussed. Ultimately, a sensitivity analysis of the parameters is to be done to investigate the variations in the results of various parameters inside the model based on the optimal strategy.