Inventory models for increasing demand followed by level demand

Inventory models for increasing demand followed by level demand

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Article ID: iaor19961528
Country: United Kingdom
Volume: 46
Issue: 10
Start Page Number: 1250
End Page Number: 1259
Publication Date: Oct 1995
Journal: Journal of the Operational Research Society
Authors:
Abstract:

This paper considers a product subject to a period of increasing demand, according to a general power law, followed by a period of level demand. By assuming that the Economic Batch Quantity (EBQ) is used as soon as level demand is reached, the paper derives the optimal production/purchasing policy for use at any stage during the period of growth. The optimal approach is compared with that of the Silver-Meal heuristic.

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