English, Article edition: A COMPARISON AMONG VARIOUS INVENTORY SHORTAGE MODELS FOR DETERIORATING ITEMS ON THE BASIS OF MAXIMIZING PROFIT MAW-SHENG CHERN; YA-LAN CHAN; JINN-TSAIR TENG

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Bookmark: http://trove.nla.gov.au/version/131767
Physical Description
  • article
Language
  • English

Edition details

Title
  • A COMPARISON AMONG VARIOUS INVENTORY SHORTAGE MODELS FOR DETERIORATING ITEMS ON THE BASIS OF MAXIMIZING PROFIT
Author
  • MAW-SHENG CHERN
  • YA-LAN CHAN
  • JINN-TSAIR TENG
Physical Description
  • article
Notes
  • For a finite planning horizon, there has been a considerable body of research papers in the area of operations management that dealt with four different inventory shortage models in the last two decades. In this paper, we establish the models to reflect the fact that the longer the waiting time, the smaller the backlogging rate. We then use maximizing profit as the objective to make an appropriate comparison among those four alternatives. The theoretical results reveal that Model 4 provides the highest profit only if the profit margin is sufficiently low. Otherwise, in general, Model 3 has the highest profit among them.
  • Inventory, modeling, shortages, partial backlogging
  • RePEc:wsi:apjorx:v:22:y:2005:i:01:p:121-134
Language
  • English
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