A note on inventory replenishment policies for deteriorating items in an exponentially declining market

Integrating quality and maintenance decisions in a production-inventory model for deteriorating items

“…Padmanabhan and Vrat (1995) developed stock-dependent demand models and determined economic order quantity (EOQ) expressions for deteriorating items with complete, partial, and no backlogging. Wee (1995) and Chu and Chen (2002) allowed shortages for all periods except the final one, assuming a fixed ratio of backorders to lost sales. Chu and Chen (2002) showed that the inventory carrying cost is proportional to the cost of deteriorated items, and proposed a near-optimal closed-form approximate solution.…”

“…Wee (1995) and Chu and Chen (2002) allowed shortages for all periods except the final one, assuming a fixed ratio of backorders to lost sales. Chu and Chen (2002) showed that the inventory carrying cost is proportional to the cost of deteriorated items, and proposed a near-optimal closed-form approximate solution. Wang (2002) argued that assuming a fixed fraction of backorders is not reasonable, since the length of the waiting period is the main factor in whether or not customers accept backordering.…”

Partial Trade-Credit Policy of Retailer with Exponentially Deteriorating Items

“…Further, Chakrabarty et al [23] developed an EOQ (economic order quantity) model for items with Weibull distributed deterioration, shortages, and trended demand. Chu and Chen [24] suggested some inventory replenishment policies for deteriorating items in an exponentially declining market. Chung and Wee [25] formulated a short life-cycle deteriorating product in an inventory model.…”

An economic order quantity model with partial backlogging under general backorder cost function

“…These situations are modeled by considering partial backlogging in the formulation of the mathematical models. In this line, there are the papers of Montgomery et al (1973), Rosenberg (1979), Park (1982), Yan and Cheng (1998), Wee (1999), Abad (2000), Balkhi (2000), Balkhi et al (2001), Chu and Chen (2002), Goyal and Giri (2003), San-José et al (2003), Chu and Chung (2004), Giri et al (2005), Jolai et al (2006), Lo et al (2007), Yang (2007), and Pentico and Drake (2009). A common characteristic of all the above papers is to assume a constant partial backordering fraction during the period without stocks.…”