Economic ordering policy for deteriorating items over an infinite time horizon (Q1087131)
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scientific article; zbMATH DE number 3987002
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| English | Economic ordering policy for deteriorating items over an infinite time horizon |
scientific article; zbMATH DE number 3987002 |
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Economic ordering policy for deteriorating items over an infinite time horizon (English)
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1987
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A total cost model is presented for the inventory problem of deteriorating items. A constant fraction of on hand inventory at the beginning of a period deteriorates during the period. The demand for the items during a period is supplied at the end of the period. However, shortages accumulated during a scheduling period are supplied at the start of the next scheduling period. An approach is suggested for determining economic ordering policy for the case of time varying demand and a search procedure is developed when demand is constant in each period.
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infinite time horizon
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total cost model
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deteriorating items
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economic ordering policy
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time varying demand
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0.9082837104797364
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0.9001696705818176
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0.8745241761207581
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0.8737004995346069
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0.8727264404296875
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