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On an Inventory Model for Deteriorating Items With Increasing Time-varying Demand and Shortages

In this paper we present an exact solution for the inventory replenishment problem with shortages, in which items are deteriorating at a constant rate. The demand rates are increasing with time over a known and finite planning horizon. We also present a dynamic programming solution to the problem. B...

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Published in:	The Journal of the Operational Research Society 1996-01, Vol.47 (1), p.188-200
Main Authors:	Benkherouf, Lakdere, Mahmoud, Mohammed G.
Format:	Article
Language:	English
Subjects:	Algorithms Applied sciences Business and Management Cost efficiency Cost functions Cost structure Demand deteriorating items Dynamic programming Exact sciences and technology Inventory control, production control. Distribution Inventory management inventory systems Management Mathematical models Modeling Operational research and scientific management Operational research. Management science Operations research Operations Research/Decision Theory Studies Technical Note Technical Papers Total costs Variable costs
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container_title	The Journal of the Operational Research Society
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creator	Benkherouf, Lakdere Mahmoud, Mohammed G.
description	In this paper we present an exact solution for the inventory replenishment problem with shortages, in which items are deteriorating at a constant rate. The demand rates are increasing with time over a known and finite planning horizon. We also present a dynamic programming solution to the problem. Both these methods provide a net improvement over existing methods.
doi_str_mv	10.1057/jors.1996.17
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subjects	Algorithms Applied sciences Business and Management Cost efficiency Cost functions Cost structure Demand deteriorating items Dynamic programming Exact sciences and technology Inventory control, production control. Distribution Inventory management inventory systems Management Mathematical models Modeling Operational research and scientific management Operational research. Management science Operations research Operations Research/Decision Theory Studies Technical Note Technical Papers Total costs Variable costs
title	On an Inventory Model for Deteriorating Items With Increasing Time-varying Demand and Shortages
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