Cost Comparisons for Out-of-Phase Inventory Models
作者:
BakerR. C.,
HannaMichael,
期刊:
Journal of the Operational Research Society
(Taylor Available online 1987)
卷期:
Volume 38,
issue 3
页码: 253-260
ISSN:0160-5682
年代: 1987
DOI:10.1057/jors.1987.41
出版商: Taylor&Francis
关键词: Inventory Models;Sales Model
数据来源: Taylor
摘要:
AbstractInventory costs for a fixed time period have traditionally been determined by allocating total costs per cycle uniformly throughout that cycle as well as any partial cycles. This procedure for cost allocation has led to the solution of numerous inventory problems, most notable of which is the anticipated price-increase model. When comparing two out-of-phase inventory models, if costs are accounted for when they occur over a fixed planning horizon, inventory policies should be changed to reflect the impact of this different cost-allocation procedure. For the anticipated price-increase model, the‘optimal’order quantity as well as the implied savings in inventory costs will be different when cost models are developed based on these different cost-allocation methods. If the objective is to maximize over a fixed planning horizon the actual savings in inventory costs as they occur, the cost models presented here should be used.
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