Production–inventory policy for a deteriorating item with a single vendor–buyer system

In this paper, production–inventory models for a deteriorating item in a single vendor–buyer system have been developed with constant production and demand rate. Shortages at the buyer (when it is allowed) depends on time. The models have been formulated as cost minimization problem via both integrated and non-integrated approaches and solved using genetic algorithms developed to solve the single and multiobjective production inventory problems. Numerical illustrations of the models have been presented and the sensitivity analysis with respect to rates of production, demand and deterioration are performed.