An alternative procedure for determining the optimal policy for an inventory item having linear trend in demand

An alternative procedure for determining the optimal policy for an inventory item having linear trend in demand

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Article ID: iaor199642
Country: United Kingdom
Volume: 46
Issue: 4
Start Page Number: 521
End Page Number: 527
Publication Date: Apr 1995
Journal: Journal of the Operational Research Society
Authors: ,
Abstract:

This paper develops an iterative procedure for determining the optimal replenishment policy for an item having linear trend in demand. Shortages are permitted for the inventory item and can be backordered. This optimal procedure is easier to apply than an earlier solution method reported in inventory literature with linearly time-varying demand and shortages. Two examples are included to illustrate the iterative procedure.

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