Inventory systems for deteriorating items with shortages and a linear trend in demand – taking account of time value

Inventory systems for deteriorating items with shortages and a linear trend in demand – taking account of time value

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Article ID: iaor200290
Country: United Kingdom
Volume: 28
Issue: 9
Start Page Number: 915
End Page Number: 934
Publication Date: Aug 2001
Journal: Computers and Operations Research
Authors: ,
Keywords: deteriorating items
Abstract:

This paper derives an inventory model for deteriorating items with the demand of linear trend and shortages during the finite planning horizon considering the time value of money. A simple solution algorithm using a line search is presented to determine the optimal interval which has positive inventories. Numerical examples are given to explain the solution algorithm. Sensitivity analysis is performed to study the effect of changes in the system parameters.

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