Production Inventory Model under Time Dependent Demand, Uneven Manufacturing Rate and Manufacture Time Dependent Selling Price

Abstract

In this paper, an inventory model for production of a singlearticle with anunevenmanufacturing rate and manufacturing time subsidiary selling cost has been considered. The considered production inventory model is accepted to create perfect items in beginning however because of different elements, after some time the production begins diminishing exponentially with time, i.e., the variable production rate has been thought of. The demand is time subordinate. Initially up to certain time, production rate remains constant. But after some time, due to various factors, production will decrease. Therefore, the efficiency (E) of such factors must be increased to get more production which can maintain the production efficiency cost which has been applied. Considering this fact inverse efficiency λ has been introduced in production rate.By utilizing differential calculus, expected maximumprofit has been resolved. The goal of the examination is to decide the ideal arrangement for a production framework that expands the total benefit subject to certain limitations viable. Results are examined by means of a mathematical example to outline the hypothesis.