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ID 19665
Eprint ID
19665
FullText URL
Author
Ibraheem Abdul
Abstract
The demand pattern for most perishable products varies during their life cycle in the market. These variations must be properly reflected in inventory management in order to prevent unnecessary stock-out or excess inventory with associated increase in cost. In this paper, a multi-period economic order quantity (EOQ) model for managing the inventory of perishable items having varying demand pattern is presented. The model was formulated using a general ramp-type demand function that allows three-phase variation in demand pattern. These phases represent the growth, the steady and the decline phases commonly experienced by the demand for most products during their life cycle in the market. The model generates replenishment policies that guarantees optimal inventory cost for all the phases. Numerical experiments and sensitivity analysis were carried out to demonstrate the suitability of the model for a wide range of seasonal products. Result of the experiments revealed that the points at which demand pattern changes are critical points in managing inventory of products with ramp type demand.
Published Date
2009-11-10
Publication Title
Proceedings : Fifth International Workshop on Computational Intelligence & Applications
Volume
volume2009
Issue
issue1
Publisher
IEEE SMC Hiroshima Chapter
Start Page
158
End Page
163
ISSN
1883-3977
NCID
BB00577064
Content Type
Conference Paper
language
英語
Copyright Holders
IEEE SMC Hiroshima Chapter
Event Title
5th International Workshop on Computational Intelligence & Applications IEEE SMC Hiroshima Chapter : IWCIA 2009
Event Location
東広島市
Event Location Alternative
Higashi-Hiroshima City
File Version
publisher
Refereed
True
Eprints Journal Name
IWCIA