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On the inventory model with variable lead time and price–quantity discount

Author

Listed:
  • C-T Chang

    (National Changhua University of Education)

  • S-C Chang

    (National Changhua University of Education)

Abstract

In this paper, we propose a mixed integer optimization approach for solving the inventory problem with variable lead time, crashing cost, and price–quantity discount. A linear programming relaxation based on piecewise linearization techniques is derived for the problem. It first converts non-linear terms into the sum of absolute terms, which are then linearized by goal programming techniques and linearization approaches. The proposed method can eliminate the complicated multiple-step solution process used in the traditional inventory models. In addition, the proposed model allows constraints to be added by the inventory decision-maker as deemed appropriate in real-world situations.

Suggested Citation

  • C-T Chang & S-C Chang, 2001. "On the inventory model with variable lead time and price–quantity discount," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 52(10), pages 1151-1158, October.
    • Handle: RePEc:pal:jorsoc:v:52:y:2001:i:10:d:10.1057_palgrave.jors.2601172
    DOI: 10.1057/palgrave.jors.2601172
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