AN OPTIMAL RECURSIVE METHOD FOR VARIOUS INVENTORY REPLENISHMENT MODELS WITH INCREASING DEMAND AND SHORTAGES

Authors
TENG JT CHERN MS YANG HL
Citation
Jt. Teng et al., AN OPTIMAL RECURSIVE METHOD FOR VARIOUS INVENTORY REPLENISHMENT MODELS WITH INCREASING DEMAND AND SHORTAGES, Naval research logistics, 44(8), 1997, pp. 791-806
Citations number
28
Categorie Soggetti
Operatione Research & Management Science","Operatione Research & Management Science","Engineering, Marine
Journal title
Naval research logistics → ACNP
ISSN journal
0894069X
Volume
44
Issue
8
Year of publication
1997
Pages
791 - 806
Database
ISI
SICI code
0894-069X(1997)44:8<791:AORMFV>2.0.ZU;2-Z
Abstract
We establish various inventory replenishment policies to solve the pro blem of determining the timing and number of replenishments. We then a nalytically compare various models, and identify the best alternative among them based on minimizing total relevant costs. Furthermore, we p ropose a simple and computationally efficient optimal method in a recu rsive fashion, and provide two examples for illustration. (C) 1997 Joh n Wiley & Sons, Inc.