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Optimal Replenishment Policies for Deteriorating Items Based on the Forecasting Method of Grey Model

In: Proceedings of 20th International Conference on Industrial Engineering and Engineering Management

Author

Listed:
  • Shou-feng Ji

    (Northeastern University)

  • Hai-yan Lan

    (Northeastern University)

  • Jin-huan Tang

    (Northeastern University)

Abstract

The collected and forecasting profit model was briefly introduced focus on a series of conditions such as limited inventory, stochastic replenishment periods, uncertain of whether lending stock and service level constraint. Then determinate the optimal replenishment quantity and optimal policy and utilize MATLB real-time simulation to analyze how lending stock rate and stochastic replenishment periods effluence the profit finally it is proved that model is validated to the policy.

Suggested Citation

  • Shou-feng Ji & Hai-yan Lan & Jin-huan Tang, 2013. "Optimal Replenishment Policies for Deteriorating Items Based on the Forecasting Method of Grey Model," Springer Books, in: Ershi Qi & Jiang Shen & Runliang Dou (ed.), Proceedings of 20th International Conference on Industrial Engineering and Engineering Management, edition 127, pages 789-797, Springer.
    • Handle: RePEc:spr:sprchp:978-3-642-40063-6_78
    DOI: 10.1007/978-3-642-40063-6_78
    as

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