Note on a deterministic lot-size inventory model for deteriorating items with shortages and a declining market

In Wee (1995), an inventory model is considered for deteriorating items with exponentially decreasing demand rates and shortages over a finite planning horizon. An heuristic based on equal replenishment periods is suggested for both complete and partial backlogging. An attempt is made to: 1. inform...

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Bibliographic Details
Published in:Computers & operations research 1998, Vol.25 (1), p.63-65
Main Author: Benkherouf, Lakdere
Format: Article
Language:English
Subjects:
Applied sciences
Exact sciences and technology
Heuristic
Inventory control, production control. Distribution
Inventory management
Operational research and scientific management
Operational research. Management science
Operations research
Studies
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Summary:In Wee (1995), an inventory model is considered for deteriorating items with exponentially decreasing demand rates and shortages over a finite planning horizon. An heuristic based on equal replenishment periods is suggested for both complete and partial backlogging. An attempt is made to: 1. inform readers that optimal solutions for a more general models exist, 2. show that, under the assumptions of Wee, the optimal procedure is independent from the form of the demand rate, and 3. show that the procedure suggested by Wee leads indeed to the optimal replenishment schedule under the assumptions mentioned.
ISSN:0305-0548
1873-765X
0305-0548
DOI:10.1016/S0305-0548(98)80009-9