IDEAS home Printed from https://ideas.repec.org/a/eee/ejores/v211y2011i3p520-524.html
   My bibliography  Save this article

Inventory models with managerial policy independent of demand

Author

Listed:
  • Lin, Shih-Wei

Abstract

This paper is an extension of two papers. The first of these, published in European Journal of Operational Research, 2007, 112-120 is by Deng et al. (2007) and concerns inventory models for deteriorating items with ramp type demand. The second, published in Computer & Industrial Engineering, 2009, 1296-1300 is by Cheng and Wang (2009) and concerns inventory models for deteriorating items with trapezoidal type demand. The purpose of this paper is threefold. First, this paper will show that the optimal solution is independent of the demand considered in the two previous papers. Second, several replenishment cycles were considered during the finite time horizon, to balance the set-up cost with the sum of the deteriorated cost, holding cost, and shortage cost. Third, this paper will examine the same numerical example in Cheng and Wang (2009) to show that this new approach will result in the saving of 84.39%.

Suggested Citation

  • Lin, Shih-Wei, 2011. "Inventory models with managerial policy independent of demand," European Journal of Operational Research, Elsevier, vol. 211(3), pages 520-524, June.
    • Handle: RePEc:eee:ejores:v:211:y:2011:i:3:p:520-524
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0377-2217(11)00016-6
    Download Restriction: Full text for ScienceDirect subscribers only
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Hung, Kuo-Chen, 2011. "An inventory model with generalized type demand, deterioration and backorder rates," European Journal of Operational Research, Elsevier, vol. 208(3), pages 239-242, February.
    2. Skouri, K. & Konstantaras, I. & Papachristos, S. & Ganas, I., 2009. "Inventory models with ramp type demand rate, partial backlogging and Weibull deterioration rate," European Journal of Operational Research, Elsevier, vol. 192(1), pages 79-92, January.
    3. Deng, Peter Shaohua & Lin, Robert H.-J. & Chu, Peter, 2007. "A note on the inventory models for deteriorating items with ramp type demand rate," European Journal of Operational Research, Elsevier, vol. 178(1), pages 112-120, April.
    4. Manna, S.K. & Chaudhuri, K.S., 2006. "An EOQ model with ramp type demand rate, time dependent deterioration rate, unit production cost and shortages," European Journal of Operational Research, Elsevier, vol. 171(2), pages 557-566, June.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Bakker, Monique & Riezebos, Jan & Teunter, Ruud H., 2012. "Review of inventory systems with deterioration since 2001," European Journal of Operational Research, Elsevier, vol. 221(2), pages 275-284.
    2. Chunming Xu & Xiaojie Liu & Chenchen Wu & Baiyun Yuan, 2020. "Optimal Inventory Control Strategies for Deteriorating Items with a General Time-Varying Demand under Carbon Emission Regulations," Energies, MDPI, vol. 13(4), pages 1-20, February.
    3. Yu-Lan Wang & Ming-Li Chen & Peterson Julian, 2022. "Maximum-Profit Inventory Model with Generalized Deterioration Rate," Mathematics, MDPI, vol. 10(17), pages 1-14, September.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Sudip Adak & G. S. Mahapatra, 2022. "Effect of reliability on multi-item inventory system with shortages and partial backlog incorporating time dependent demand and deterioration," Annals of Operations Research, Springer, vol. 315(2), pages 1551-1571, August.
    2. Bakker, Monique & Riezebos, Jan & Teunter, Ruud H., 2012. "Review of inventory systems with deterioration since 2001," European Journal of Operational Research, Elsevier, vol. 221(2), pages 275-284.
    3. Hung, Kuo-Chen, 2011. "An inventory model with generalized type demand, deterioration and backorder rates," European Journal of Operational Research, Elsevier, vol. 208(3), pages 239-242, February.
    4. Yu-Lan Wang & Ming-Li Chen & Peterson Julian, 2022. "Maximum-Profit Inventory Model with Generalized Deterioration Rate," Mathematics, MDPI, vol. 10(17), pages 1-14, September.
    5. Manish Shukla & Sanjay Jharkharia, 2014. "An inventory model for continuously deteriorating agri-fresh produce: an artificial immune system-based solution approach," International Journal of Integrated Supply Management, Inderscience Enterprises Ltd, vol. 9(1/2), pages 110-135.
    6. Saha, Subrata & Sarkar, Biswajit & Sarkar, Mitali, 2023. "Application of improved meta-heuristic algorithms for green preservation technology management to optimize dynamical investments and replenishment strategies," Mathematics and Computers in Simulation (MATCOM), Elsevier, vol. 209(C), pages 426-450.
    7. K. Skouri & I. Konstantaras & S. Manna & K. Chaudhuri, 2011. "Inventory models with ramp type demand rate, time dependent deterioration rate, unit production cost and shortages," Annals of Operations Research, Springer, vol. 191(1), pages 73-95, November.
    8. Tai, Allen H. & Xie, Yue & Ching, Wai-Ki, 2016. "Inspection policy for inventory system with deteriorating products," International Journal of Production Economics, Elsevier, vol. 173(C), pages 22-29.
    9. Sarkar, Biswajit & Sarkar, Sumon, 2013. "An improved inventory model with partial backlogging, time varying deterioration and stock-dependent demand," Economic Modelling, Elsevier, vol. 30(C), pages 924-932.
    10. Dai, Zhuo & Aqlan, Faisal & Gao, Kuo, 2017. "Optimizing multi-echelon inventory with three types of demand in supply chain," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 107(C), pages 141-177.
    11. Narayan Singh & Bindu Vaish & Shiv Ray Singh, 2014. "A collaborative strategy for a three echelon supply chain with ramp type demand, deterioration and inflation," Operations Research and Decisions, Wroclaw University of Science and Technology, Faculty of Management, vol. 24(3), pages 77-100.
    12. Pahl, Julia & Voß, Stefan, 2014. "Integrating deterioration and lifetime constraints in production and supply chain planning: A survey," European Journal of Operational Research, Elsevier, vol. 238(3), pages 654-674.
    13. Pentico, David W. & Drake, Matthew J., 2011. "A survey of deterministic models for the EOQ and EPQ with partial backordering," European Journal of Operational Research, Elsevier, vol. 214(2), pages 179-198, October.
    14. Kausik Das & Sahidul Islam, 2024. "A Comprehensive Study on Economic Production Quantity with Ramp-Type Demand and Constant Deterioration Under Fuzzy Environment," SN Operations Research Forum, Springer, vol. 5(2), pages 1-21, June.
    15. Pal, Shilpi & Mahapatra, G.S. & Samanta, G.P., 2014. "An EPQ model of ramp type demand with Weibull deterioration under inflation and finite horizon in crisp and fuzzy environment," International Journal of Production Economics, Elsevier, vol. 156(C), pages 159-166.
    16. Yeu-Shiang Huang & Hau-Wen Lo & Jyh-Wen Ho, 2021. "Effects of component commonality and perishability on inventory control in assemble-to-order systems," Operational Research, Springer, vol. 21(1), pages 205-229, March.
    17. Sarkar, Biswajit & Sarkar, Sumon, 2013. "Variable deterioration and demand—An inventory model," Economic Modelling, Elsevier, vol. 31(C), pages 548-556.
    18. Jagadeesan Viswanath & Rajamanickam Thilagavathi & Krishnasamy Karthik & Miroslav Mahdal, 2023. "A Study of a Two Storage Single Product Inventory System with Ramp Type Demand, N-Phase Prepayment and Purchase for Exigency," Mathematics, MDPI, vol. 11(7), pages 1-17, April.
    19. Krishna Prasad & Bani Mukherjee, 2016. "Optimal inventory model under stock and time dependent demand for time varying deterioration rate with shortages," Annals of Operations Research, Springer, vol. 243(1), pages 323-334, August.
    20. Bikash Koli Dey & Hyesung Seok, 2024. "Intelligent inventory management with autonomation and service strategy," Journal of Intelligent Manufacturing, Springer, vol. 35(1), pages 307-330, January.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:ejores:v:211:y:2011:i:3:p:520-524. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/eor .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.