Inventory Models with Cost Changes

Benjamin Lev and Howard J. Weiss
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Benjamin Lev: Worcester Polytechnic Institute, Worcester, Massachusetts
Howard J. Weiss: Temple University, Philadelphia, Pennsylvania

Operations Research, 1990, vol. 38, issue 1, 53-63

Abstract: Two of the basic assumptions of economic order quantity models are an infinite horizon and static costs. In this paper, both assumptions are relaxed and results on the form of the optimal inventory policy are developed for both finite and infinite horizon models with changes in any or all costs. These results are used to develop short procedures for the computation of the optimal policy.

Keywords: inventory/production:; ordering; strategies; for; price; increases (search for similar items in EconPapers)
Date: 1990
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Citations: View citations in EconPapers (38)

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