On an (s,Q) production policy for an integrated inventory model for a single product with linearly increasing demand

On an (s,Q) production policy for an integrated inventory model for a single product with linearly increasing demand

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Article ID: iaor1991844
Country: United Kingdom
Volume: 41
Issue: 10
Start Page Number: 931
End Page Number: 941
Publication Date: Oct 1990
Journal: Journal of the Operational Research Society
Authors: ,
Abstract:

The authors analyse an (s,Q) production policy for an inventory system consisting of a single finished product and the raw materials used for manufacturing it, and where the demand rate of the product increases linearly with time. They formulate a mathematical programming model with the objective of minimizing total inventory cost per unit time. The problem of grouping raw materials optimally so that common replenishment periods may be used is considered. Solution procedures are developed, and numerical examples are presented.

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