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|Title:||ON INVENTORY MODEL WITH INCREASING DEMAND FOLLOWED BY CONSTANT DEMAND|
|Publisher:||Journal of the Nigeria Mathematical Association of Nigeria|
|Abstract:||In this paper, we consider the inventory replenishment problem where the demand pattern can be divided into two parts viz: a growth and then a constant demand phase. During the growth phase, the demand pattern is given by H Htkbbttf k ; 0,0,0,)( is finite and D is the annual demand. In the inventory system, no shortages are allowed. When 1 k , the demand function is linear, and when , 2 k the demand function is quadratic. We develop and implement a new iterative but exact method for deriving the inventory replenishment policy during the growth phase and suggest that the well known economic ordered quantity model be used during the constant phase. Examples are provided to illustrate the proposed methods.|
|Appears in Collections:||Abstracts|
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