The finite horizon trended inventory replenishment problem with shortages. (English) Zbl 0762.90021

Goyal, S. K.; Morin, D.; Nebebe, F.

J. Oper. Res. Soc. 43, No. 12, 1173-1178 (1992).

Summary: A new type of replenishment policy is suggested for an inventory item having a finite shortage cost and linear trend in demand over a finite time horizon. The optimal solution of the suggested replenishment policy has a lower total cost as compared with the optimal solution for the traditional replenishment policies.

MSC:

90B05

Inventory, storage, reservoirs

Keywords:

replenishment policy; finite shortage cost; linear trend in demand; finite time horizon