A continuous review inventory model, with deteriorating items, time-varying demand, linear replenishment cost, partially time-varying backlogging
type: Item
instance of: scholarly article
title: A continuous review inventory model, with deteriorating items, time-varying demand, linear replenishment cost, partially time-varying backlogging
zbMATH Open document ID: 1029.90010
DOI: 10.1016/S0307-904X(01)00071-3
published in: Applied Mathematical Modelling
publication date: 2002-09-03T00:00:00Z
review text: A finite time horizon inventory model for deteriorating items with time-varying demand has undergone extensive mathematical developments in the past 30 years. However, it is often assumed that the shortages are either completely backlogged or completely lost. The highlight of this paper is that the backlogging rate, during the shortage period, is variable and is dependent on the length of the waiting time for the next replenishment. Indeed, the assumption makes the model more complete and applicable in practice. The authors show in a rigorous way that the optimal solution case not only exists but also is unique under specific circumstance, \(0\leq\alpha\leq C_2/(C+C_2H-C_4)\). However, their theory is limited only to the exponential class of backlogging rate. In practice, one can observe periodically the proportion of demand which would like to accept backlogging and the corresponding waiting time for the next replenishment. Then the statistical techniques, such as the nonlinear regression method, can be used to estimate the backlogging rate. Therefore, the backlogging rate can be relaxed to be more general. Furthermore, their solution procedure was too complex and tedious in computing. One can find the approximate solution of the inventory system by the \textit{B. C. Giri}, \textit{K. S. Chakrabarty} and \textit{K. S. Chaudhuri} [Comput. Oper. Res. 27, 495-505 (2000; Zbl 0955.90005)] algorithm.
reviewed by: Liang-Yuh Ouyang
Mathematics Subject Classification ID: 90B05
zbMATH DE Number: 1795034
zbMATH Keywords: inventory
zbMATH Keywords: deterioration
zbMATH Keywords: replenishment cost
zbMATH Keywords: partial backlogging
zbMATH Keywords: logconcave demand
author: Konstantina Skouri
author: S. Papachristos
MaRDI profile type: Publication
cites work: On (T, S i ) Policy Inventory Model for Deteriorating Items with Time Proportional Demand
cites work: Order level inventory system with power demand pattern for items with variable rate of deterioration
cites work: An EOQ Model for Deteriorating Items with Shortages and a Linear Trend in Demand
cites work: On an inventory model with deteriorating items and decreasing time-varying demand and shortages
cites work: Optimal EOQ Models for Deteriorating Items with Time-Varying Demand
cites work: A lot sizing heuristic for deteriorating items with shortages in growing and declining markets
cites work: Deterministic lot-size inventory models with shortages and deterioration for fluctuating demand
cites work: A deterministic lot-size inventory model for deteriorating items with shortages and a declining market
cites work: An EOQ model for deteriorating items with time varying demand and partial backlogging
cites work: An inventory model of deteriorating items with lot-size dependent replenishment cost and a linear trend in demand
cites work: The Finite Horizon Trended Inventory Replenishment Problem With Shortages
cites work: Inventory Lot-Size Models with General Time-Dependent Demand and Carrying Cost Functions
cites work: Q3241581
Recommended article: On (T, S i ) Policy Inventory Model for Deteriorating Items with Time Proportional Demand
Recommended article: Goyal’s inventory model revisited
Recommended article: On an inventory model for deteriorating items with stock dependent and time-varying demand rates
Recommended article: Deterministic inventory model for deteriorating items with finite rate of replenishment dependent on inventory level.
Recommended article: On the minimum solution of the inventory system for deteriorating items with shortages and time-varying demand
Recommended article: Inventory systems for deteriorating items with shortages and a linear trend in demand-taking account of time value
Recommended article: An inventory model of deteriorating items with lot-size dependent replenishment cost and a linear trend in demand
Recommended article: Q3224833
Recommended article: An inventory model for deteriorating items with stock-dependent demand, time-varying holding cost and shortages
Recommended article: Inventory model for deteriorating items with incremental holding cost under partial backlogging
description: scientific article; zbMATH DE number 1795034