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Deterministic inventory lot-size models under inflation with shortages and deterioration for fluctuating demand. (English) Zbl 0981.90003

Summary: The authors 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). They prove that the optimal replenishment schedule not only exists but is also unique Furthermore, they show that the total cost associated with the inventory system is a convex function of the number of replenishments. Hence, the search for the optimal number of replenishments is simplified to finding a local minimum. Finally, several numerical examples are provided to illustrate the results.

MSC:

90B05 Inventory, storage, reservoirs
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