2007•Journal of Transportation Systems Engineering and Information TechnologyRequires access
An Order and Selling Inventory Model with Shortage Allowed
Zhongxing Li
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Abstract
An order and selling inventory model is designed based on the inventory theory.Considering the lot-size discount phenomenon that usually exists in the actuality,the model is constructed to supposedly include lot-size discount,the.continuity and uniformity of need speed,and shortage of supplies and shortage costs.The mean total inventory costs cover order cost,inventory cost and shortage cost.An order and selling inventory model with shortage allowed under the condition of limited-space warehouse and lot-size discount is developed to actuality.thus determining the optimal order quantity,the optimal order cycle and the minimum mean total inventory cost.Finally,the application of the model is illustrated.