Order Level Inventory Models for Deteriorating Seasonable/Fashionable Products with Time Dependent Demand and Shortages

K. Skouri and I. Konstantaras

Mathematical Problems in Engineering, 2009, vol. 2009, 1-24

Abstract:

An order level inventory model for seasonable/fashionable products subject to a period of increasing demand followed by a period of level demand and then by a period of decreasing demand rate (three branches ramp type demand rate) is considered. The unsatisfied demand is partially backlogged with a time dependent backlogging rate. In addition, the product deteriorates with a time dependent, namely, Weibull, deterioration rate. The model is studied under the following different replenishment policies: (a) starting with no shortages and (b) starting with shortages. The optimal replenishment policy for the model is derived for both the above mentioned policies.

Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:hin:jnlmpe:679736

DOI: 10.1155/2009/679736

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