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A forward with backward inventory policy algorithm for nonlinear increasing demand and shortage backorders

Author

Listed:
  • Ririn Diar Astanti
  • Huynh Trung Luong
  • Hui Ming Wee
  • The Jin Ai

Abstract

The traditional inventory policies have been developed for constant demand processes. In reality, demand is not always stable; it might have an increasing pattern. In this paper, a forward with backward inventory policy algorithm is developed to determine the operational parameters of an inventory system with a nonlinear increasing demand rate, shortage backorders and a finite planning horizon. Numerical experiments are also conducted to compare the results with the existing techniques and to illustrate the applicability of the proposed technique.

Suggested Citation

  • Ririn Diar Astanti & Huynh Trung Luong & Hui Ming Wee & The Jin Ai, 2018. "A forward with backward inventory policy algorithm for nonlinear increasing demand and shortage backorders," International Journal of Mathematics in Operational Research, Inderscience Enterprises Ltd, vol. 13(4), pages 492-512.
    • Handle: RePEc:ids:ijmore:v:13:y:2018:i:4:p:492-512
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