An inventory model for deteriorating items with exponential declining demand and partial backlogging

An inventory model for deteriorating items with exponential declining demand and partial backlogging

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Article ID: iaor2006717
Country: Serbia
Volume: 15
Issue: 2
Start Page Number: 277
End Page Number: 288
Publication Date: Jan 2005
Journal: Yugoslav Journal of Operations Research
Authors: , ,
Keywords: deteriorating items, economic order
Abstract:

This study proposes an EOQ inventory mathematical model for deteriorating items with exponentially decreasing demand. In the model, the shortages are allowed and partially backordered. The backlogging is variable and dependent on the waiting time for the next replenishment. Further, we show that the minimized objective cost function is jointly convex and derive the optimal solution. A numerical example is presented to illustrate the model and the sensitivity analysis is also studied.

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