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Inventory models with managerial policy independent of demand

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  • Lin, Shih-Wei

Abstract

This paper is an extension of two papers. The first of these, published in European Journal of Operational Research, 2007, 112-120 is by Deng et al. (2007) and concerns inventory models for deteriorating items with ramp type demand. The second, published in Computer & Industrial Engineering, 2009, 1296-1300 is by Cheng and Wang (2009) and concerns inventory models for deteriorating items with trapezoidal type demand. The purpose of this paper is threefold. First, this paper will show that the optimal solution is independent of the demand considered in the two previous papers. Second, several replenishment cycles were considered during the finite time horizon, to balance the set-up cost with the sum of the deteriorated cost, holding cost, and shortage cost. Third, this paper will examine the same numerical example in Cheng and Wang (2009) to show that this new approach will result in the saving of 84.39%.

Suggested Citation

  • Lin, Shih-Wei, 2011. "Inventory models with managerial policy independent of demand," European Journal of Operational Research, Elsevier, vol. 211(3), pages 520-524, June.
    • Handle: RePEc:eee:ejores:v:211:y:2011:i:3:p:520-524
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    References listed on IDEAS

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    1. Hung, Kuo-Chen, 2011. "An inventory model with generalized type demand, deterioration and backorder rates," European Journal of Operational Research, Elsevier, vol. 208(3), pages 239-242, February.
    2. Skouri, K. & Konstantaras, I. & Papachristos, S. & Ganas, I., 2009. "Inventory models with ramp type demand rate, partial backlogging and Weibull deterioration rate," European Journal of Operational Research, Elsevier, vol. 192(1), pages 79-92, January.
    3. Deng, Peter Shaohua & Lin, Robert H.-J. & Chu, Peter, 2007. "A note on the inventory models for deteriorating items with ramp type demand rate," European Journal of Operational Research, Elsevier, vol. 178(1), pages 112-120, April.
    4. Manna, S.K. & Chaudhuri, K.S., 2006. "An EOQ model with ramp type demand rate, time dependent deterioration rate, unit production cost and shortages," European Journal of Operational Research, Elsevier, vol. 171(2), pages 557-566, June.
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    Cited by:

    1. Bakker, Monique & Riezebos, Jan & Teunter, Ruud H., 2012. "Review of inventory systems with deterioration since 2001," European Journal of Operational Research, Elsevier, vol. 221(2), pages 275-284.
    2. Chunming Xu & Xiaojie Liu & Chenchen Wu & Baiyun Yuan, 2020. "Optimal Inventory Control Strategies for Deteriorating Items with a General Time-Varying Demand under Carbon Emission Regulations," Energies, MDPI, vol. 13(4), pages 1-20, February.
    3. Yu-Lan Wang & Ming-Li Chen & Peterson Julian, 2022. "Maximum-Profit Inventory Model with Generalized Deterioration Rate," Mathematics, MDPI, vol. 10(17), pages 1-14, September.

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