AN INVENTORY MODEL FOR DETERIORATING ITEMS

In this paper, an alternative methodology for obtaining the optimum characteristics of Mak's deteriorating production-inventory model is presented. Here, the exact average total cost expression for the production lot-size model with constant deterioration has been obtained, and then through a classical computerized search routine the optimum production cycle time and the optimum total inventory cycle time is determined. A numerical example is used to illustrate the results of this analysis and they are then compared to those of Mak's methodology for determining the "optimum" values of the approximate equations.