A multi-item inventory model for deteriorating items under inflation and permissible delay in payments with exponential declining demand

This paper deals with the EOQ of multi-item inventory model under inflation. The demand rate of each item decreases exponentially. Deterioration rate of each item is considered as constant. Delay in payments is permissible. For setting the account, the model is developed under different circumstances depending on whether the credit period A′ is (a) less than the cycle times of all items, (b) greater than the cycle times of all items, (c) lies between every two consecutive cycle times of all items. A new algorithm is developed under these three scenarios to obtain the EOQ. Finally results are analyzed and demonstrated with an illustrative example.