Volume - 13 | Issue-1
Volume - 13 | Issue-1
Volume - 13 | Issue-1
Volume - 13 | Issue-1
Volume - 13 | Issue-1
A significant financial loss can occur in a supply chain system due to the degradation of items in inventory. In this study, we have analyzed a supply chain model that examines deterioration in a finite planning horizon model with Weibull market demand. We have discussed the formulation of a mathematical inventory model with a finite planning horizon and its solution. To illustrate the optimality of replenishment cycles in this inventory model, we have provided a numerical example. We have determined the total optimal cost, which is a convex nonlinear function by establishing the positive definiteness of the Hessian matrix. We have conducted a sensitivity analysis of all parameters using different tables and graphs. In addition, we have dedicated a separate section to discuss the results obtained and provide managerial insights.