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The average-cost formulation of lot sizing models and inventory carrying charges: A technical note
Full text linkEconomic production quantity with inventory rationing for a decaying item
No full textIn this paper, we develop an economic production quantity (EPQ) model with inventory rationing for a decaying item under deterministic conditions. Two demand classes are considered, and inventory rationing is implemented by introducing a critical level: when stock is below the critical level, low-priority demand is rejected. The cost model is developed considering two situations, depending on whether the critical level is in the inventory build-up phase or in the inventory depletion phase. We then formulate the optimization problem and propose a solution procedure. Numerical experiments are finally carried out to demonstrate the benefits of implementing inventory rationing. Copyright (C) 2022 IFAC. Copyright (C) 2022 The Authors
Indoor Positioning Systems and Smart Boxes – Functionality and Benefits for Warehouse Logistics.
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