Purchasing model for deteriorating items with time-varying demand under inflation and time discounting |
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| Authors: | Yihsu Lin Chinho Lin |
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| Affiliation: | (1) Center of General Education, Southern Taiwan University of Technology, Tainan, Taiwan;(2) Department of Industrial and Information Management & Institute of Information Management, National Cheng Kung University, Tainan, Taiwan |
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| Abstract: | The study proposes a purchasing model, which considers a case of time-varying deterioration, partial back-ordering that depends on the waiting time for backlogging, and time value of money over a finite horizon. The model integrates all possible real-world situations that may happen in dealing with an order quantity. We derive the lower bound of the replenishment for a specific planning horizon and propose a procedure to solve the problem. |
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| Keywords: | Back-ordering Deterioration Inflation Order quantity |
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