A comparison among various partial backlogging inventory lot-size models for deteriorating items on the basis of maximum profit

During the past few years, there are many researches that deal with different inventory shortage models for deteriorating items and then use minimizing cost as objective to find the optimal replenishment policy over a finite planning horizon. In contrast to the other articles, we here use maximizing profit as the objective to find the optimal replenishment policy. We consider the case of partial backlogging for deteriorating items with four different inventory models. Not only the opportunity cost due to lost sale but also the purchase cost is taken into account. We then make an appropriate comparison among these four alternatives. Finally, some numerical examples are provided.