An inventory model with truncated exponential replenishment intervals and special sale offer

Autor:	H.M. Wee, M. Karimi-Nasab
Rok vydání:	2015
Předmět:	Mathematical optimization Exponential distribution Economic shortage Industrial and Manufacturing Engineering Convexity Profit (economics) Cost savings Exponential function Hardware and Architecture Control and Systems Engineering Economics Mathematical economics Real world data Software
Zdroj:	Journal of Manufacturing Systems. 35:246-250
ISSN:	0278-6125
DOI:	10.1016/j.jmsy.2014.09.003
Popis:	In this study, we develop an inventory model with stochastic replenishment intervals and special sale offer from a supplier. The replenishment interval is assumed to obey a truncated exponential distribution and shortage is partially backordered. Our goal in this research is to maximize the total profit of cost savings due to special sale offer from supplier. A closed-form solution of the model and its convexity condition is developed. A numerical example with real world data is provided to illustrate the theory.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::8c7b80e6cdb5f7215450289b818e9ca5 https://doi.org/10.1016/j.jmsy.2014.09.003 Zobrazit plný text záznamu Full Text from ScienceDirect