• Dr. Ranjana Gupta
• Prof. Meenakshi Srivastava

The paper deals with the construction of EOQ model where demand is dependent upon time and selling price. The demand is taken to be constant for certain period of time and then it is a function of time and selling price. To make our model more realistic, return policy with shortages of the product is incorporated, with the addition that the product can be returned and resold by the retailer. It is assumed that the retailer will reimburse half of the price of the returned product to the customer. The primary purpose of this inventory model is to determine the optimum time, optimum order quantity and optimum retailer’s profit earned per unit time. A numerical example is also presented and sensitivity analysis is carried out to highlight the findings of the suggested inventory model.

Keywords: deteriorating items, time and selling price demand, shortages, return policy

"An EOQ Model for Deteriorating Items with Return Policy having Time and Selling Price Dependent Demand with Shortages", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.11, Issue 6, page no.c585-c593, June-2024, Available :http://www.jetir.org/papers/JETIR2406274.pdf

"An EOQ Model for Deteriorating Items with Return Policy having Time and Selling Price Dependent Demand with Shortages", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.11, Issue 6, page no. ppc585-c593, June-2024, Available at : http://www.jetir.org/papers/JETIR2406274.pdf