Some results for inventory models having inventory level dependent demand rate

Article Abstract:

Optimal ordering policies were explored for generalized EOQ inventory models with inventory level dependent demand rates. Following an analysis of each model, it was established that minimum total inventory cost per unit time is a product of the maximum available inventory and of the holding cost. In situations assuming planned shortages, the optimal cost was found to be a product of a function incorporating unit holding cost, maximum allowable shortage and unit penalty cost.

Analysis, Demand (Economics), Inventory shrinkage, Inventory shortages

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A heuristic (R,T) periodic review perishable inventory model with lead times

Article Abstract:

The problem of determining a best order-up-to-level and review interval policy for a perishable commodity with a fixed lifetime is analyzed with the lead time assumed to be positive. The study examines the behavioral pattern of the perishability process and then introduces a simple approximation to the expected outdating for the (R,T) perishable inventory model. This approximation can be used for the positive lead time and multi-period review interval case.

Purchasing, Perishable goods

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Inventory models with the demand rate dependent on stock and shortage levels

Article Abstract:

A study was conducted on an inventory system wherein demand rate during stockout periods differs from that during the in-stock period by a specified amount. The model was considered as a profit-maximization model requiring a closed-form solution. The model was further generalized to consider the effect of stock-level-dependent demand rates, initial-stock-dependent demand and instantaneous-stock-dependent demand rates.

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