An Inventory Model with Three Parameter Weibull Distribution for Deteriorating Items under Inflation

This study explores a predetermined inventory system for deterioratingitems with a Weibull distribution, taking into consideration nonlinear demand and trade credit under inflation and allowing for shortages and partial backlogs. The reason for this study is to find the appropriate order and replenishment policy toactually reduce relevant costs.The model is built under two scenarios; case 1: ). The consumer will be charged interest on the outstanding debt if he does not pay the provider by time M. and case 2:if the consumer gets to sell all of his commodity as well as earns interest on the revenue until the account is settled.To demonstrate the use and performance of the model, numerical approach and sensitivity analysis are actually given. As a result, this model will assist retailer in determining the optimal replenishment cycles in a variety of situations, as well as provide aninnovative management insight that will aid the industry reduce relevant cost.