An economic order quantity model for deteriorating items with time-varying demand and shortages

An economic order quantity model for deteriorating items with time-varying demand and shortages

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Article ID: iaor200295
Country: United States
Volume: 31
Issue: 3
Start Page Number: 391
End Page Number: 400
Publication Date: Mar 2000
Journal: International Journal of Systems Science
Authors: , ,
Keywords: economic order, deteriorating items
Abstract:

The study explores the inventory replenishment policies for the cases with time-varying demand, linearly increasing deterioration rate, partial back-ordering, constant service level and equal replenishment intervals over a fixed planning horizon. Since it is difficult to solve the problem directly, we derive the upper bound of replenishment number for a specific planning horizon and find the solution of service level under a given number of replenishment. The optimal solutions of replenishment number and service level are then determined. Numerical examples and sensitivity analyses are also provided to illustrate the solution procedure.

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