Abstract
This study is motivated by the paper of Skouri et al. [Skouri, Konstantaras, Papachristos, Ganas, European Journal of Operational Research 192 (1) (2009) 79–92]. We extend their inventory model from ramp type demand rate and Weibull deterioration rate to arbitrary demand rate and arbitrary deterioration rate in the consideration of partial backorder. We demonstrate that the optimal solution is actually independent of demand. That is, for a finite time horizon, any attempt at tackling targeted inventory models under ramp type or any other types of the demand becomes redundant. Our analytical approach dramatically simplifies the solution procedure.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.