Optimal Policy for Deteriorating Items Ramp Type Demand with Shelf Life

In this article, we have studied the inventory and pricing strategies for deteriorating items with ramp type demand and shelf life. In practice, there are many commodity such as food, medication exist the shelf life expiration date. Therefore the shelf life expiration date has become an important research topic in inventory management. The objective is to find the optimal inventory maximizing the net present value of total profit over the infinite horizon. We will discuss two cases. We assume that the inventory objective is to minimize the total cost per unit time of the system.