On discrete-in-time probabilistic scheduling period inventory system for deteriorating items with instantaneous demand

A probabilistic scheduling period inventory system is considered for continuously deteriorating items in which the demand is assumed to occur instantaneously at the beginning of the scheduling period, shortages are not allowed, deterioration is assumed to be a constant fraction of the on hand inventory and time is treated as a discrete variable. Three inventory models are developed, viz. a model with no lead time, a model with a deterministic lead time and a model with a lead time equal to a multiple of the scheduling period. Examples are given to illustrate the derived results.