Open Access

ARTICLE

Analysis of Inventory Model for Quadratic Demand with Three Levels of Production

Dharamender Singh¹, Majed G. Alharbi², Anurag Jayswal¹, Ali Akbar Shaikh^3,*

1 Department of Mathematics & Computing, Indian Institute of Technology (Indian School of Mines), Dhanbad, 826004, Jharkhand, India
2 Department of Mathematics, College of Arts and Science, Methnab, Qassim University, Saudi Arabia
3 Department of Mathematics, the University of Burdwan, Burdwan, 713104, India

* Corresponding Author: Ali Akbar Shaikh. Email:

Intelligent Automation & Soft Computing 2022, 32(1), 167-182. https://doi.org/10.32604/iasc.2022.021815

Received 15 July 2021; Accepted 18 August 2021; Issue published 26 October 2021

Abstract

The inventory framework is one of the standards of activity research fundamentals in ventures and business endeavors. Production planning includes all building production plans, including organizing and appointing exercises to every individual, gathering individuals or machines, and mastering work orders in every work environment. Production booking should take care of all issues, for example, limiting client standby time and production time; and viably utilizing the undertaking’s HR. This paper considered three degrees of a production inventory model for a consistent deterioration rate. This model assumes a significant part in the production of the board and assembling units. Request rate is the quadratic capacity of time, and deficiencies are not allowed. The all-out production rate is subject to manufacture rate, request rate, and pace of disintegrating things. It is feasible to the manufacture begun at one rate to additional rate after a specific time, and such a circumstance is attractive as in by starting at one a low pace of production. The model has first been addressed logically by limiting the entire inventory cost. The paper’s target is to find the ideal arrangement of production time, to decrease the entire cost of the complete cycle. At last, a mathematical model and affectability examination on boundaries were made to approve the outcomes and discuss the proposed inventory model. This model can help the producer and retailer to decide the ideal request amount, process duration, and final stock expense. We have solved this problem with the help of two numerical examples to validate the proposed model and sensitivity analysis is performed.

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