Optimal replenishment policies for non-instantaneous deteriorating items with stock-dependent demand

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Title:	Optimal replenishment policies for non-instantaneous deteriorating items with stock-dependent demand
Authors:	Chang, Chun-Tao;Teng, Jinn-Tsair;Goyal, Suresh-Kumar
Contributors:	淡江大學統計學系
Keywords:	Inventory;Non-instantaneous deterioration;Stock-dependentdemand
Date:	2010-01
Issue Date:	2012-06-14 09:38:02 (UTC+8)
Publisher:	Amsterdam: Elsevier BV
Abstract:	Wu et al. [2006. An optimalreplenishmentpolicy for non-instantaneousdeterioratingitems with stock-dependentdemand and partial backlogging. International Journal of Production Economics 101, 369–384] established an inventory model for non-instantaneousdeterioratingitems with stock-dependentdemand, and obtained the optimalreplenishmentpolicy. In this paper, we first amend Wu et al.'s model by changing the objective to maximizing the total profit. Secondly, we set a maximum inventory level in the model to reflect the facts that most retail outlets have limited shelf space. Thirdly, we relax the restriction of zero ending inventory when shortages are not desirable. We then establish the theoretical results and provide an algorithm to find the optimal solution. Finally, we present some numerical examples to illustrate the results.
Relation:	International Journal of Production Economics 123(1), pp.62-68
DOI:	10.1016/j.ijpe.2009.06.042
Appears in Collections:	[Graduate Institute & Department of Statistics] Journal Article

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