An Optimal Inventory Model Based on the Effect of Time-Limited Free Back-Orders

Biao Zhang; Di Zhang

doi:10.4028/www.scientific.net/KEM.474-476.1338

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HomeKey Engineering MaterialsKey Engineering Materials Vols. 474-476An Optimal Inventory Model Based on the Effect of...

An Optimal Inventory Model Based on the Effect of Time-Limited Free Back-Orders

Abstract:

An optimal inventory model is proposed in this paper. Firstly, the prerequisite of this model is given out. Under the supposed condition of deterioration, the demand rate of articles depends on the inventory level, meanwhile the status of shortage and partial back-order. The optimal inventory model of fixed free back orders is on this basis. With those numerical values in this model, the optimal ordering cycle and ordering batch of stock system are counted out and the sensitivity is analyzed by using the mathematical software Mathmatica 7.0.

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Key Engineering Materials (Volumes 474-476)

Pages:

1338-1344

DOI:

https://doi.org/10.4028/www.scientific.net/KEM.474-476.1338

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Online since:

April 2011

Authors:

Biao Zhang, Di Zhang

Keywords:

Delay in Restocking, Deterioration, Free Back-Order, Sensitivity

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