NDLI: An inventory control model for perishable items with stochastic replenishment interval and stock-dependent selling rate

Content Provider	IEEE Xplore Digital Library
Author	Guang-fan Xu Xiao-jia Wang Yan-yan Wu Shan-lin Yang
Copyright Year	2014
Description	Author affiliation: Sch. of Manage., Hefei Univ. of Technol., Hefei, China (Guang-fan Xu; Xiao-jia Wang; Yan-yan Wu; Shan-lin Yang)
Abstract	Periodic replenishment inventory models are widely used in practice, especially for inventory systems in which many different goods are purchased from the same supplier. However, most of periodic replenishment inventory models have assumed a fixed length of the replenishment periods. In practice, it is possible that the replenishment periods are of a stochastic length. This paper presents an inventory control model for deteriorating items in the case of random replenishment intervals and stock-dependent selling rate. The replenishment interval is assumed to obey from two different distributions, namely, exponential and uniform distributions. Also, shortages are allowed in the term of partial backordering. For this model, we provide the necessary and sufficient conditions of the existence and uniqueness of the optimal solutions and a procedure is also developed to determine the optimal solution for the proposed models. At last, numerical example is shown to illuminate the presented model.
Starting Page	3573
Ending Page	3579
File Size	733641
Page Count	7
File Format	PDF
ISBN	9781479937073
e-ISBN	9781479937080
DOI	10.1109/CCDC.2014.6852799
Language	English
Publisher	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Publisher Date	2014-05-31
Publisher Place	China
Access Restriction	Subscribed
Rights Holder	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Subject Keyword	Art stock-dependent selling rate inventory control deteriorating items stochastic replenishment interval Production partial backlogging
Content Type	Text
Resource Type	Article

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