Journal
MATHEMATICAL AND COMPUTER MODELLING
Volume 54, Issue 5-6, Pages 1569-1575Publisher
PERGAMON-ELSEVIER SCIENCE LTD
DOI: 10.1016/j.mcm.2011.04.028
Keywords
Deteriorating items; EOQ; Cost-difference
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In this study, a deteriorating inventory problem with and without backorders is developed. From the literature search, this study is one of the first attempts by researchers to solve a deteriorating inventory problem with a simplified approach. The optimal solutions are compared with the classical methods for solving deteriorating inventory model. The total cost of the simplified model is almost identical to the original model. (C) 2011 Elsevier Ltd. All rights reserved.
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