An inventory model for Weibull distribution deterioration under price-dependent demand and partial backlogging with opportunity cost due to lost sales.
Taniya Sarkar RoyKripasindhu ChaudhuriPublished in: Int. J. Model. Identif. Control. (2011)
Keyphrases
- lost sales
- opportunity cost
- inventory systems
- inventory models
- lead time
- lot size
- single stage
- multi item
- ordering policy
- single period
- periodic review
- total cost
- optimal policy
- setup cost
- inventory level
- inventory control
- stochastic demand
- decision making
- lot sizing
- probabilistic model
- planning horizon
- stochastic model
- infinite horizon
- service level
- demand distributions
- dynamic programming