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Economic ordering policy for deteriorating items over an infinite time horizon. (English) Zbl 0609.90034

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.

MSC:

90B05 Inventory, storage, reservoirs
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References:

[1] Dave, U., On a discrete time order level inventory model for deteriorating items, Journal of the Operational Research Society, 30, 349-354 (1979) · Zbl 0411.90039
[2] Dave, U.; Jaiswal, M. C., An order-level lot-size inventory model for deteriorating items subject to discrete time variable, Gujrat Statistical Review, 7, 43-49 (1980) · Zbl 0461.90023
[3] Goyal, S. K., Economic ordering policy for deteriorating items, Journal of the Operational Research Society, 35, 151-152 (1984)
[4] Rengarajan, S.; Vartale, M. N., A note on Dave’s inventory model for deteriorating items, Journal of the Operational Research Society, 34, 543-546 (1983) · Zbl 0515.90030
[5] Silver, E. A.; Meal, H. C., A heuristic for selecting lot size quantities for the case of a deterministic time-varying demand rate and discrete opportunities for replenishment, Production Inventory Management, 14, 64-74 (1973)
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