Optimal Price and Lot Size for an EOQ Model with Full Backordering under Power Price and Time Dependent Demand

In this paper, we address an inventory system where the demand rate multiplicatively combines effects of time and selling price. It is assumed that product two power functions, one depending on price other elapsed since last replenishment. Shortages are allowed fully backlogged. The aim to obtain lot sizing, cycle unit maximize profit per time. To achieve this, efficient algorithms proposed optimal solution problem for all possible parameter values system. We solve several numerical examples illustrate theoretical results methodology. also develop a sensitivity analysis policy maximum with respect parameters function.