MULTI-CLASS INVENTORY MODELS WITH DEMAND A FUNCTION OF INVENTORY LEVEL.

Abstract

This report considers the problem of maintaining an inventory of an item which can deteriorate and become useless. Several models are considered. New items are assumed to be delivered immediately or after a delay. Items are considered to deteriorate through one or two states before becoming useless. Optimal and suboptimal ordering policies are obtained for these models which minimize ordering, shortage, and holding costs when the deterioration is assumed to depend on the number of items in the inventory. The policies are the single critical number type. (Author)

Document Details

Document Type
Technical Report
Publication Date
Sep 16, 1968
Accession Number
AD0675286

Entities

People

  • Donald Iglehart
  • Stratton C. Jaquette

Tags

DTIC Thesaurus Topics

  • Inventory

Readers

  • Finite Element Method (FEM) for solving Partial Differential Equations (PDEs)
  • Logistics and Supply Chain Management.
  • Systems Analysis and Design