Multi-Product Economic Inventory Policy with Time Varying Power Demand, Shortages and Complete Backordering

The present article elaborates a multi-product economic inventory model in which multiple items are considered with demand, depends on time, abides power law, shortages, and complete backordering. rate of production is greater than the demand for each item. This type pattern accessible to various kinds practical problems modern era. In this paper, assumed be directly proportional demand. real situations, always dependent price any product, so it also that depleted linearly price. paper aims fulfill requirement products maximize overall profit organization. Optimal values involved costs, price, re-order point, scheduling period calculated. work, objective total optimize quantity. Optimization methods used obtain maximum profit. Shortages permitted completely backordered. Total cost quantity models deteriorating have been developed. study validated numerical example, sensitive analysis optimal solutions concerning main parameters carried out using software Mathematica. tables shown model.