An economic ordering policy model for deteriorating items with time proportional demand

An economic ordering policy model for deteriorating items with time proportional demand

0.00 Avg rating0 Votes
Article ID: iaor1992440
Country: Netherlands
Volume: 46
Issue: 1
Start Page Number: 21
End Page Number: 27
Publication Date: May 1990
Journal: European Journal of Operational Research
Authors: ,
Keywords: programming: dynamic
Abstract:

A (Ti,Si) inventory policy model for deteriorating items is presented in this paper. The model is developed based on the assumptions that (1) demand rate is deterministic and linearly changes with time, (2) deterioration rate is constant, (3) planning horizon is finite and known, and (4) replenishment periods are not equal. The model is solved using a dynamic programming method. The result is applicable to the case where the demand is either increasing or decreasing. A numerical example is provided to illustrate the model and solution procedure.

Reviews

Required fields are marked *. Your email address will not be published.