Excess Inventory with Stochastic Demand: Continuous Reporting Model
作者:
StulmanAlan,
期刊:
Journal of the Operational Research Society
(Taylor Available online 1989)
卷期:
Volume 40,
issue 11
页码: 1041-1047
ISSN:0160-5682
年代: 1989
DOI:10.1057/jors.1989.177
出版商: Taylor&Francis
关键词: Inventory
数据来源: Taylor
摘要:
AbstractIn this paper we consider the problem of finding the greatest level of excess inventory to be allowed and not scrapped. If excess items are not scrapped, then they are eliminated by natural attrition. The procedure used in finding the maximum excess inventory to be allowed is to maximize the function: net benefits = immediate scrap revenues - present value of attrition-period holding costs - present value of all other future costs. This procedure is only approximate. However, it will provide significant improvement on the previous treatment of this problem in that it will allow for backordering costs and for stochastic demand. In particular, deterministic demand and Poisson demand are examined.
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