Optimum ordering interval for time varying decay rate of inventory
type: Item
instance of: scholarly article
title: Optimum ordering interval for time varying decay rate of inventory
zbMATH Open document ID: 0611.90042
author: S. P. Mukherjee
published in: Opsearch
publication date: 1987-01-01T00:00:00Z
review text: We consider the exponentially decaying inventory having known demand when the inventory decay rate is a function of time. Methods are developed for obtaining optimum cycle length in such a system by minimising the total cost per unit time under usual assumptions. An explicit approximate method based on truncated Taylor series expansion in the form of a solution to a polynomial equation is provided when the decay rate is a linear function of time. A few numerical examples are worked out for finding the optimum cycle length.
Mathematics Subject Classification ID: 90B05
zbMATH DE Number: 3989072
zbMATH Keywords: exponentially decaying inventory
zbMATH Keywords: optimum cycle length
zbMATH Keywords: explicit approximate method
zbMATH Keywords: truncated Taylor series expansion
MaRDI profile type: Publication
description: scientific article; zbMATH DE number 3989072