Article ID: | iaor20084276 |
Country: | Netherlands |
Volume: | 178 |
Issue: | 1 |
Start Page Number: | 112 |
End Page Number: | 120 |
Publication Date: | Apr 2007 |
Journal: | European Journal of Operational Research |
Authors: | Chu Peter, Deng Peter Shaohua, Lin Robert H.-J. |
Keywords: | deteriorating items |
In this research we study the inventory models for deteriorating items with ramp type demand rate. We first clearly point out some questionable results by Mandal & Pal and Wu & Ouyang. And then we resolve the similar problem by offering a rigorous and efficient method to derive the optimal solution. In addition, we also propose an extended inventory model with ramp type demand rate and its optimal feasible solution to amend the incompleteness in the previous work. Moreover, we also proposed a very good inventory replenishment policy for this kind of inventory model. We believe that our work will provide a solid foundation for the further study of this sort of important inventory models with ramp type demand rate.