Optimal Replenishment and Lot Sizing Strategy for Inventory Mechanism with Step-Shaped Demand and Backordering
Joint Authors
Source
Mathematical Problems in Engineering
Issue
Vol. 2019, Issue 2019 (31 Dec. 2019), pp.1-14, 14 p.
Publisher
Hindawi Publishing Corporation
Publication Date
2019-08-04
Country of Publication
Egypt
No. of Pages
14
Main Subjects
Abstract EN
This paper discusses the inventory mechanism with backordering and with the infinite planning horizon consisting of two stages wherein the demand rate in the first stage is strictly greater than that in the second stage.
To minimize the retailer’s inventory cost, we establish a lot sizing decision model.
On the basis of the inventory cost analysis, we present a closed-form solution to the model and provide an optimal replenishment and stocking strategy to the retailer.
The given numerical experiments show the validity of the model.
American Psychological Association (APA)
Zhang, Lixia& Han, Lili. 2019. Optimal Replenishment and Lot Sizing Strategy for Inventory Mechanism with Step-Shaped Demand and Backordering. Mathematical Problems in Engineering،Vol. 2019, no. 2019, pp.1-14.
https://search.emarefa.net/detail/BIM-1197007
Modern Language Association (MLA)
Zhang, Lixia& Han, Lili. Optimal Replenishment and Lot Sizing Strategy for Inventory Mechanism with Step-Shaped Demand and Backordering. Mathematical Problems in Engineering No. 2019 (2019), pp.1-14.
https://search.emarefa.net/detail/BIM-1197007
American Medical Association (AMA)
Zhang, Lixia& Han, Lili. Optimal Replenishment and Lot Sizing Strategy for Inventory Mechanism with Step-Shaped Demand and Backordering. Mathematical Problems in Engineering. 2019. Vol. 2019, no. 2019, pp.1-14.
https://search.emarefa.net/detail/BIM-1197007
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references
Record ID
BIM-1197007