A finite time-horizon deterministic EOQ model with stock-dependent demand, effects of inflation and time value of money with shortages in all cycles
A finite time-horizon deterministic inventory model is developed, taking the demand rate at any instant to be a function of the on-hand inventory (stock-level) at that instant. Shortages in inventory are allowed. The effects of inflation and time value of money are considered. Two separate inflation...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
University of Belgrade
2007-01-01
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| Series: | Yugoslav Journal of Operations Research |
| Subjects: | |
| Online Access: | http://www.doiserbia.nb.rs/img/doi/0354-0243/2007/0354-02430702195R.pdf |
| Summary: | A finite time-horizon deterministic inventory model is developed, taking the demand rate at any instant to be a function of the on-hand inventory (stock-level) at that instant. Shortages in inventory are allowed. The effects of inflation and time value of money are considered. Two separate inflation rates: namely, the internal (company) and the external (general economy) are introduced. A numerical example of the model is discussed. A sensitivity analysis of the optimal solution with respect to the parameters of the model is examined. |
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| ISSN: | 0354-0243 1820-743X |