An Inventory System for Varying Decaying Medicinal Products in Healthcare Trade

Abstract

This paper introduces a structure for decline medicinal products with a rate of sensitive price under the impact of inflation, which is another significant part in inventory analysis. Mainly, the existing work of medicinal inventory models assess the value of decay as persistent, which is not analytical such as medicines, drugs deteriorate with time. Now we take the rate of decaying as time-dependent with Weibull deterioration of three parameters. Shortages are permitted with the rate of partial backlogging. The plan of the work is to find the best result of total average cost by calculating the best size of the order with the best time interval. At last, an example is given  to demonstrate the value of our initiative work with different parameters.