Economic order quantity model for deteriorating items with planned backorder level

In this study a deteriorating inventory problem with and without backorders is solved using cost-difference approach. From literature search, this study is one of the first attempts by researchers to solve a deteriorating inventory problem without using derivative. The optimal solutions are compared with the classical methods for solving deteriorating inventory model. The total cost of the simplified model almost similar as the original model for small values of deteriorating rate and replenishment time.