Inventory models with stock-dependent demand and nonlinear holding costs for deteriorating items

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Title:	Inventory models with stock-dependent demand and nonlinear holding costs for deteriorating items
Authors:	張春桃;Chang, Chun-tao
Contributors:	淡江大學統計學系
Keywords:	Inventory;lot sizing;stock-dependent demand;deterioration
Date:	2004-12-01
Issue Date:	2009-11-30 12:57:56 (UTC+8)
Publisher:	World Scientific Publishing
Abstract:	In this paper, we discuss why it is appropriate maximize the profits, instead of minimizing the costs, in an inventory system with an inventory-level-dependent demand rate. In addition, we restate Urban's viewpoint that the restriction of zero ending-inventory is not necessary in an inventory-level-dependent demand model. Consequently, we amend Giri and Chaudhuri's inventory model for deteriorating items by changing the objective to maximize the profits and relaxing the restriction of zero ending-inventory. Finally, we provide a couple of examples to show that both the order quantity and the profit obtained from our proposed model are significantly larger than those in Giri and Chaudhuri's model, in which the objective is to minimize the costs.
Relation:	Asia-pacific journal of operational research 21(4), pp.435-446
DOI:	10.1142/S0217595904000321
Appears in Collections:	[Department of Management Sciences] Journal Article

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