An optimal replenishment policy for deteriorating items with stock-dependent demand and relaxed terminal conditions under limited storage space
Liang-Yuh Ouyang (),
Kun-Shan Wu and
Central European Journal of Operations Research, 2011, vol. 19, issue 1, 139-153
This paper deals with the problem of determining the optimal replenishment policy for deteriorating items with stock-dependent demand in which the terminal condition of zero-ending inventory is relaxed. In the model, shortages are allowed and partial backlogging/lost sales. That is, the zero/non-zero ending inventory models are considered simultaneously. The items in stock are displayed to the customers in shelves with limited storage capacity. In theoretical analysis, the necessary and sufficient conditions of the existence and uniqueness of the optimal solutions under various cases are shown. We then also provide a simple algorithm to find the optimal solutions for various situations. Further, a couple of numerical examples are presented to demonstrate the developed model and solution procedure, and several management insights are obtained from the numerical examples. Finally, sensitivity analysis of the optimal solution with respect to major parameters is also carried out. Copyright Springer-Verlag 2011
Keywords: Inventory; Replenishment; Stock-dependent demand; Limited storage space (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed
Downloads: (external link)
Access to full text is restricted to subscribers.
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:spr:cejnor:v:19:y:2011:i:1:p:139-153
Ordering information: This journal article can be ordered from
http://www.springer. ... search/journal/10100
Access Statistics for this article
Central European Journal of Operations Research is currently edited by Ulrike Leopold-Wildburger
More articles in Central European Journal of Operations Research from Springer, Slovak Society for Operations Research, Hungarian Operational Research Society, Czech Society for Operations Research, Österr. Gesellschaft für Operations Research (ÖGOR), Slovenian Society Informatika - Section for Operational Research, Croatian Operational Research Society
Bibliographic data for series maintained by Sonal Shukla ().