Optimal Inventory Policy for Non-instantaneous Items with Stock-dependent Holding Cost Function and Shortage

摘要：

The classical EOQ model considered the holding cost as constant, but the variability in the holding cost is an important practical problem in inventory operation. In this paper, an inventory model for non-instantaneous deteriorating items with complete backlogging is built. We innovate the holding cost as a generalized function of the on-hand stock. Conditions under which the total holding cost of the inventory system per cycle is a convex function of positive inventory level duration are given. The necessary and sufficient condition of the existence and uniqueness of the optimal solution is also presented when the total holding cost is convex. Numerical examples are used to illustrate our solution procedure and to reveal the effect of the holding cost function and the length of fresh product time on inventory policies.

作者: Xiao-Li MAO Xin-Ping Xiao

作者单位: Department of science ,Wuhan University of Technology, Wuhan, 430066, China

会议类型: 国际会议

会议名称: 2009 IEEE International Conference on Grey System and Intelligent Services(2009 IEEE灰色系统与服务科学国际会议)

会议地点: 南京

会议语种:英文

页码: 1772-1778

在线出版日期: 2009-10-20（万方平台首次上网日期，不代表论文的发表时间）