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Lot sizes under continuous demand: The backorder case

โœ Scribed by David Yao; Morton Klein

Publisher
John Wiley and Sons
Year
1989
Tongue
English
Weight
469 KB
Volume
36
Category
Article
ISSN
0894-069X

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โœฆ Synopsis

We study a deterministic lot-size problem, in which the demand rate is a (piecewise) continuous function of time and shortages are backordered. The problem is to find the order points and order quantities to minimize the total costs over a finite planning horizon. We show that the optimal order points have an interleaving property, and when the orders are optimally placed, the objective function is convex in the number of orders. By exploiting these properties, an algorithm is developed which solves the problem efficiently. For problems with increasing (decreasing) demand rates and decreasing (increasing) cost rates, monotonicity properties of the optimal order quantities and order intervals are derived.

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โœ Hui-Ling Yang; Jinn-Tsair Teng; Maw-Sheng Chern ๐Ÿ“‚ Article ๐Ÿ“… 2001 ๐Ÿ› John Wiley and Sons ๐ŸŒ English โš– 164 KB ๐Ÿ‘ 1 views

In this paper, we extend the inventory lot-size models to allow for inflation and fluctuating demand (which is more general than constant, increasing, decreasing, and log-concave demand patterns). We prove that the optimal replenishment schedule not only exists but is also unique. Furthermore, we sh