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

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.

MSC:

90B05 Inventory, storage, reservoirs
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