A Partial Backlogging Inventory Model for Deteriorating Items with Fluctuating Selling Price and Purchasing Cost

Table 1

Major characteristic of inventory models on selected articles.

Author(s); (published year)	Demand rate	Deterioration rate	Allow for shortages	With partial backlogging	Purchasing cost	Selling price	Objective
Abad (1996) [3]	Price dependent	Time varying	Yes	Yes	Constant	Variable	Profit maximization
Teng et al. (2002) [4]	Time dependent (logconcave)	Constant	Yes	Yes	Constant	X	Cost minimization
Teng and Yang (2004) [11]	Time dependent	Constant	Yes	Yes	Time varying	X	Cost minimization
Chang et al. (2006) [5]	Time and price dependent	Constant	Yes	Yes	Constant	Variable	Profit maximization
Teng and Yang (2007) [6]	Time dependent	X	Yes	X	Time varying	X	Cost minimization
Abad (2008) [7]	Price dependent	Time varying	Yes	Yes	Constant	Variable	Profit maximization
Sana (2010) [8]	Price dependent	Time varying	Yes	Yes	Constant	Variable	Profit maximization
Roy et al. (2011a) [9]	Constant	Uniform Distribution	Yes	Yes	Constant	Constant	Cost minimization/Profit maximization
Roy et al. (2011b) [10]	Constant	Uniform Distribution	Yes	Yes	Constant	Constant	Profit maximization
Present paper	Time dependent	Constant	Yes	Yes	Time varying	Time varying	Profit maximization

Note: “X” denote not considered.