International Journal of Systems Science · 2003 · 149 citations · 15 references
ManagementIndustrial EngineeringOperations ManagementInventory ControlInventory ManagementProduction PlanningEconomic Order QuantityInventory Control PoliciesInventory Cost AnalysisInventory CostingInventory OptimizationReplenishment PlanningDeteriorating Inventory ControlEconomic Order Quantity AnalysisEconomic Order Quantity ModelInventory Models With ShortagesReplenishmentShortage ManagementShortage ModelsTotal Inventory Cost
A single-item single-period Economic Order Quantity model for deteriorating items with a ramp-type demand and Weibull deterioration distribution is considered. The shortages in inventory are allowed and backlogged completely. The model is developed over an infinite planning horizon and the optimal replenishment policy is derived by minimizing the total inventory cost per unit time. The numerical solution of the model is obtained, and the sensitivity of the parameters involved in the model is also examined.
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