An inventory model to study partial replacement policy and finite shelf life for deteriorating items with carbon tax
by Sanjukta Malakar; Nabendu Sen
International Journal of Mathematics in Operational Research (IJMOR), Vol. 24, No. 2, 2023

Abstract: Inventory management is an important aspect of a retailer's market, particularly when dealing with deteriorating products having a fixed shelf life in order to reduce total inventory costs and make market strategies. Replenishment for expired products is a cost-effective approach that allows shops to replace lost products at no cost. In the actual world, however, the manufacturer will not accept a complete replacement of expired products, in such a case, partial replacement can help the shop meet the customer's demand. In this paper, under a partial replacement policy with carbon tax, a retailer's inventory model for deteriorating items is proposed to minimise the average total cost, and the optimal planning horizon is obtained in the model. Numerical illustration is provided to validate the model along with sensitivity analysis.

Online publication date: Thu, 09-Mar-2023

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