On probabilistic scheduling period inventory system for deteriorating items with instantaneous demand

Abstract

A probabilistic scheduling period inventory system is considered for items that deteriorate continuously in time. The demand is assumed to occur instantaneously at the beginning of the scheduling period. Shortages are not allowed. A model with a non-zero lead time is developed first and, then, its special case is considered in which the lead time is a multiple of the scheduling period. The inventory models are developed using a general deterioration function. Their particular cases, when the rate of deterioration is constant, are also developed. Numerical examples are given to illustrate the models.