This paper deals with a parametric multi-period integer-valued inventory model for perishable items. Each item in the stock perishes in a given period of time with some probability. Demands are assumed to be random. and the probability that an item perishes is not known with certainty. Expressions for various parameter estimates of the model are established… (More)
The objective of the present research is to make use of optimal control theory to solve a production inventory problem with deteriorating items and dynamic costs.