Economic ordering policy for deteriorating items over an infinite time horizon

✍ Scribed by S.K. Goyal

• Book ID: 104339235
• Publisher: Elsevier Science
• Year: 1987
• Tongue: English
• Weight: 211 KB
• Volume: 28
• Category: Article
• ISSN: 0377-2217
• DOI: 10.1016/s0377-2217(87)80172-8

✦ Synopsis

In this paper 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.