IDEAS home Printed from https://ideas.repec.org/a/wly/navres/v44y1997i8p791-806.html
   My bibliography  Save this article

An optimal recursive method for various inventory replenishment models with increasing demand and shortages

Author

Listed:
  • Jinn‐Tsair Teng
  • Maw‐Sheng Chern
  • Hui‐Ling Yang

Abstract

We establish various inventory replenishment policies to solve the problem of determining the timing and number of replenishments. We then analytically compare various models, and identify the best alternative among them based on minimizing total relevant costs. Furthermore, we propose a simple and computationally efficient optimal method in a recursive fashion, and provide two examples for illustration. © 1997 John Wiley & Sons, Inc. Naval Research Logistics 44: 791–806, 1997

Suggested Citation

  • Jinn‐Tsair Teng & Maw‐Sheng Chern & Hui‐Ling Yang, 1997. "An optimal recursive method for various inventory replenishment models with increasing demand and shortages," Naval Research Logistics (NRL), John Wiley & Sons, vol. 44(8), pages 791-806, December.
    • Handle: RePEc:wly:navres:v:44:y:1997:i:8:p:791-806
    DOI: 10.1002/(SICI)1520-6750(199712)44:83.0.CO;2-5
    as

    Download full text from publisher

    File URL: https://doi.org/10.1002/(SICI)1520-6750(199712)44:83.0.CO;2-5
    Download Restriction: no
    File URL: https://libkey.io/10.1002/(SICI)1520-6750(199712)44:83.0.CO;2-5?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Thompson, Gerald L. & Sethi, Suresh P. & Teng, Jinn-Tsair, 1984. "Strong planning and forecast horizons for a model with simultaneous price and production decisions," European Journal of Operational Research, Elsevier, vol. 16(3), pages 378-388, June.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. S. K. Goyal & B. C. Giri, 2000. "Note on “An Optimal Recursive Method for Various Inventory Replenishment Models with Increasing Demand and Shortages” by Teng et al," Naval Research Logistics (NRL), John Wiley & Sons, vol. 47(7), pages 602-606, October.
    2. Hui‐Ling Yang & Jinn‐Tsair Teng & Maw‐Sheng Chern, 2001. "Deterministic inventory lot‐size models under inflation with shortages and deterioration for fluctuating demand," Naval Research Logistics (NRL), John Wiley & Sons, vol. 48(2), pages 144-158, March.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Zhou, Yongyi & Zhang, Yulin & Goh, Mark, 2023. "Platform responses to entry in a local market with mobile providers," European Journal of Operational Research, Elsevier, vol. 309(1), pages 236-251.
    2. Jorgensen, Steffen & Kort, Peter M., 2002. "Optimal pricing and inventory policies: Centralized and decentralized decision making," European Journal of Operational Research, Elsevier, vol. 138(3), pages 578-600, May.
    3. Kadipasaoglu, Sukran N. & Xiang, Wenuang & Hurley, Simon F. & Khumawala, Basheer M., 2000. "A study on the effect of the extent and location of protective capacity in flow systems," International Journal of Production Economics, Elsevier, vol. 63(3), pages 217-228, January.
    4. Jorgensen, Steffen & Kort, Peter M. & Zaccour, Georges, 1999. "Production, inventory, and pricing under cost and demand learning effects," European Journal of Operational Research, Elsevier, vol. 117(2), pages 382-395, September.
    5. Shiming Deng & Candace A. Yano, 2006. "Joint Production and Pricing Decisions with Setup Costs and Capacity Constraints," Management Science, INFORMS, vol. 52(5), pages 741-756, May.
    6. Abhijit Upasani & Reha Uzsoy, 2008. "Incorporating manufacturing lead times in joint production-marketing models: A review and some future directions," Annals of Operations Research, Springer, vol. 161(1), pages 171-188, July.
    7. Yan, Xiaoming & Liu, Ke, 2009. "Optimal control problems for a new product with word-of-mouth," International Journal of Production Economics, Elsevier, vol. 119(2), pages 402-414, June.
    8. Kim, DaeSoo & Lee, Won J., 1998. "Optimal joint pricing and lot sizing with fixed and variable capacity," European Journal of Operational Research, Elsevier, vol. 109(1), pages 212-227, August.
    9. Suresh Chand & Vernon Ning Hsu & Suresh Sethi, 2002. "Forecast, Solution, and Rolling Horizons in Operations Management Problems: A Classified Bibliography," Manufacturing & Service Operations Management, INFORMS, vol. 4(1), pages 25-43, September.
    10. Hyun-soo Ahn & Mehmet Gümüş & Philip Kaminsky, 2007. "Pricing and Manufacturing Decisions When Demand Is a Function of Prices in Multiple Periods," Operations Research, INFORMS, vol. 55(6), pages 1039-1057, December.
    11. Cheryl Gaimon, 1994. "Subcontracting versus capacity expansion and the impact on pricing of services," Naval Research Logistics (NRL), John Wiley & Sons, vol. 41(7), pages 875-892, December.
    12. Elodie Adida & Georgia Perakis, 2007. "A nonlinear continuous time optimal control model of dynamic pricing and inventory control with no backorders," Naval Research Logistics (NRL), John Wiley & Sons, vol. 54(7), pages 767-795, October.
    13. Erickson, Gary M., 2011. "A differential game model of the marketing-operations interface," European Journal of Operational Research, Elsevier, vol. 211(2), pages 394-402, June.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wly:navres:v:44:y:1997:i:8:p:791-806. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: https://doi.org/10.1002/(ISSN)1520-6750 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.