Another inventory model with a mixture of backorders and lost sales

Kyung S. Park

Naval Research Logistics Quarterly, 1983, vol. 30, issue 3, 397-400

Abstract: This article presents another inventory model for situations in which, during the stockout period, a fraction b of the demand is backordered and the remaining fraction 1 − b is lost. By defining a time‐proportional backorder cost and a fixed penalty cost per unit lost, a unimodal objective function representing the average annual cost of operating the inventory system is obtained. The optimal operating policy variables are calculated directly.

Date: 1983
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https://doi.org/10.1002/nav.3800300304

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Persistent link: https://EconPapers.repec.org/RePEc:wly:navlog:v:30:y:1983:i:3:p:397-400

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