A comprehensive extension of optimal ordering policy for stock-dependent demand under progressive payment scheme

作者：Teng Jinn Tsair^*; Krommyda Iris Pandora; Skouri Konstantina; Lou Kuo Ren

来源：European Journal of Operational Research, 2011, 215(1): 97-104.

DOI：10.1016/j.ejor.2011.05.056

• Inventory
• Stock-dependent demand
• Progressive payment scheme
• Deteriorating items

In a recent paper, Soni and Shah (2008) presented an inventory model with a stock-dependent demand under progressive payment scheme, assuming zero ending-inventory and adopting a cost-minimization objective. However, with a stock-dependent demand a non-zero ending stock may increase profits resulting from the increased demand. This work is motivated by Soni and Shah's (2008) paper extending their model to allow for: (1) a non-zero ending-inventory, (2) a profit-maximization objective, (3) a limited inventory capacity and (4) deteriorating items with a constant deterioration rate. For the resulted model sufficient conditions for the existence and uniqueness of the optimal solution are provided. Finally, several economic interpretations of the theoretical results are also given.

• 出版日期2011-11-16