An inventory model for ameliorating and deteriorating items taking account of time value of money and finite planning horizon

被引：33
|
作者：
Wee, Hui-Ming [1 ]
Lo, Sh-Tyan [1 ]
Yu, Jonas [2 ]
Chen, Hsiao Ching [1 ]
机构：
[1] Chung Yuan Christian Univ, Dept Ind Engn, Chungli 32023, Taiwan
[2] Takming Coll, Logist Management Dept, Taipei 114, Taiwan
来源：
INTERNATIONAL JOURNAL OF SYSTEMS SCIENCE | 2008年 / 39卷 / 08期
关键词：
amelioration; deterioration; weibull distribution; finite planning horizon; time value of money;
D O I：
10.1080/00207720801902523
中图分类号：
TP [自动化技术、计算机技术];
学科分类号：
0812 ;
摘要：
The objective of this study is to develop an optimal replenishment inventory strategy to consider both ameliorating and deteriorating effects taking account of time value of money and finite planning horizon. The amelioration rate and the deterioration rate are assumed to follow a Weibull distribution. The inventory system is particularly useful for young livestock whose utility increase over time. The discounted cash flow and optimisation technique are used to derive an optimal solution. A numerical example and sensitivity analysis are given to illustrate the theory of the inventory system.
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页码：801 / 807
页数：7
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