Document Zbl 0843.90039

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Inventory models for increasing demand followed by level demand. (English) Zbl 0843.90039

J. Oper. Res. Soc. 46, No. 10, 1250-1259 (1995).

Summary: This paper considers a product subject to a period of increasing demand according to a general power law, followed by a period of level demand. By assuming that the economic batch quantity (EBQ) is used as soon as level demand is reached, we derive the optimal production/purchasing policy for use at any stage during the period of growth. The optimal approach is compared with that of the Silver-Meal heuristic.

Cited in 31 Documents

MSC:

90B05

Inventory, storage, reservoirs

Keywords:

increasing demand; level demand; economic batch quantity; Silver-Meal heuristic

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