Optimal Inventory Policy and Optimal Price Discount on Backorders under Ramp Type Demand Environment | Chapter 4 | Insights into Economics and Management Vol. 4

The demand rate is believed to be constant in classical inventory models. In fact, in the inventory system, time plays an important role. In the case of the demand rate of the ramp form, the demand rises to a certain limit over time and then gradually stabilises and becomes constant. In this paper, an inventory