Article ID: | iaor20042951 |
Country: | United Kingdom |
Volume: | 31 |
Issue: | 2 |
Start Page Number: | 223 |
End Page Number: | 240 |
Publication Date: | Feb 2004 |
Journal: | Computers and Operations Research |
Authors: | Balkhi Zaid T., Benkherouf Lakdere |
Keywords: | deteriorating items |
In this paper, we present an inventory model for deteriorating items with stock dependent and time-varying demand rates for a finite time planning horizon. We also suggest a procedure for finding the optimal replenishment schedule and show in a rigorous way that the policy suggested is indeed optimal. Further, we present a numerical example and conclude the paper with suggestions for possible future research.