AN ALTERNATIVE PROCEDURE FOR DETERMINING THE OPTIMAL POLICY FOR AN INVENTORY ITEM HAVING LINEAR TREND IN DEMAND

Authors
HARIGA MA GOYAL SK
Citation
Ma. Hariga et Sk. Goyal, AN ALTERNATIVE PROCEDURE FOR DETERMINING THE OPTIMAL POLICY FOR AN INVENTORY ITEM HAVING LINEAR TREND IN DEMAND, The Journal of the Operational Research Society, 46(4), 1995, pp. 521-527
Citations number
6
Categorie Soggetti
Management,"Operatione Research & Management Science","Operatione Research & Management Science
Journal title
The Journal of the Operational Research Society → ACNP
ISSN journal
01605682
Volume
46
Issue
4
Year of publication
1995
Pages
521 - 527
Database
ISI
SICI code
0160-5682(1995)46:4<521:AAPFDT>2.0.ZU;2-9
Abstract
In this paper we develop an iterative procedure for determining the op timal replenishment policy for an item having linear trend in demand. Shortages are permitted for the inventory item and can be backordered. Our optimal procedure is easier to apply than an earlier solution met hod reported in inventory literature with linearly time-varying demand and shortages. Two examples are included to illustrate the iterative procedure.