Article ID: | iaor200640 |
Country: | Netherlands |
Volume: | 163 |
Issue: | 3 |
Start Page Number: | 776 |
End Page Number: | 783 |
Publication Date: | Jun 2005 |
Journal: | European Journal of Operational Research |
Authors: | Ouyang Liang-Yuh, Dye Chung-Yuan |
Keywords: | economic order, deteriorating items |
In the present paper, we extend Padmanabhan and Vrat's model by proposing a time-proportional backlogging rate to make the theory more applicable in practice. The existence and uniqueness of the solutions of the relevant systems are examined. Subsequently, a numerical example is presented to illustrate the application of developed model.