IDEAS home Printed from https://ideas.repec.org/a/hin/jnlmpe/9935814.html
   My bibliography  Save this article

Optimal Replenishment Strategy for Inventory Mechanism with a Known Price Increase and Backordering in Finite Horizon

Author

Listed:
  • Lixia Zhang
  • Bo Feng
  • Arkadiusz Zak

Abstract

For the finite horizon inventory mechanism with a known price increase and backordering, based on minimizing the inventory cost, we establish two mixed integer optimization models. By buyer’s cost analysis, we present the closed-form solutions to the models, and by comparing the minimum cost of the two strategies, we provide an optimal ordering policy to the buyer. Numerical examples are presented to illustrate the validity of the model, and sensitivity analysis on major parameters is also made to show some insights to the inventory model.

Suggested Citation

  • Lixia Zhang & Bo Feng & Arkadiusz Zak, 2022. "Optimal Replenishment Strategy for Inventory Mechanism with a Known Price Increase and Backordering in Finite Horizon," Mathematical Problems in Engineering, Hindawi, vol. 2022, pages 1-14, January.
    • Handle: RePEc:hin:jnlmpe:9935814
    DOI: 10.1155/2022/9935814
    as

    Download full text from publisher

    File URL: http://downloads.hindawi.com/journals/mpe/2022/9935814.pdf
    Download Restriction: no
    File URL: http://downloads.hindawi.com/journals/mpe/2022/9935814.xml
    Download Restriction: no
    File URL: https://libkey.io/10.1155/2022/9935814?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Statistics

    Access and download statistics

    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:hin:jnlmpe:9935814. 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.

    We have no bibliographic references for this item. You can help adding them by using 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: Mohamed Abdelhakeem (email available below). General contact details of provider: https://www.hindawi.com .

    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.