Model for Retailers with Price Dependent Demand Rates

To fulfill the market demand it is necessary to maintain some stocks. Typically, retailers face different types of demand for different type of products which are not under the control of the organization. The objective of the present research paper is to find the best utilization of available stocks for sale or production. Authors are trying to find an inventory model, which will be useful in retailers as well as factory outputs. So, to fulfill object of the research we are taking demand as time as well as price dependent. Holding and decay rate are also consider as a function of timer. Stock out are allowed with partial backlogged.