An inventory model for deteriorating items with shortages and time-varying demand

Joaquín Sicilia, Manuel González-De-la-Rosa, Jaime Febles-Acosta and David Alcaide-López-de-Pablo

International Journal of Production Economics, 2014, vol. 155, issue C, 155-162

Abstract: A deterministic inventory system for items with a constant deterioration rate is studied. Demand varies in time and it is assumed that it follows a power pattern. Shortages are allowed and backlogged. The ordering cost, the holding cost, the backlogging cost, the deteriorating cost, and the purchasing cost are considered in the inventory management. An approach is proposed to minimize the total cost per inventory cycle. This cost depends on two decision variables: the time at which the inventory level falls to zero and the length of the scheduling period. Numerical examples illustrate the theoretical results.

Keywords: Inventory systems; EOQ models; Deterioration; Power demand pattern; Backlogged shortages (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:proeco:v:155:y:2014:i:c:p:155-162

DOI: 10.1016/j.ijpe.2014.01.024

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