The Model of Demand and Inventory in a Decline Phase of the Product Life Cycle

Abstract

In the paper, the mathematical model of demand and inventory is studied from the perspective of its applications in real business cases. The model is formulated with three difference equations of first order. Three scenarios focused on the last phase of the product life cycle, a decline, are investigated and commented upon.

Keywords

• demand
• inventory
• mathematical model
• product life cycle
• supply chain
• c32
• d24