The DOI matches its Crossref record.
A Deterministic Inventory System with an Inventory-Level-Dependent Demand Rate
Abstract
This analysis is concerned with the continuous, deterministic case of an inventory system in which the demand rate of an item is of a polynomial functional form, dependent on the inventory level. Differential and integral calculus are used to find the inventory function with respect to time. From this, the objective function (to maximize average profit per unit time) is developed. For the continuous, multiperiod situation, a non-linear programming algorithm—separable programming—is utilized to determine the optimal order level (the quantity to order up to) and the order point (the quantity at which an order is placed). A numeric example and a sensitivity analysis are also presented.
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Note: The Newsvendor Model with Endogenous Demand
Dana, J. D., & Petruzzi, N. C. (2001) · Management Science · doi:10.1287/mnsc.47.11.1488.10252 · Cited by 239
Chuang, H. H., Oliva, R., & Heim, G. R. (2019) · Production and Operations Management · doi:10.1111/poms.13055 · Cited by 101
Metadata
- Authors
- Baker, R. C., & Urban, T. L.
- Venue
- Journal of the Operational Research Society
- Publisher
- Informa UK Limited
- Published
- 1988-09
- Volume
- 39
- Issue
- 9
- Pages
- 823-831
- ISSN
- 0160-5682 (ISSN-L)
- 1476-9360
- OpenAlex
- W2014750611
- Cited by
- 373
- References
- 0
- FWCI
- 2.53
- Type
- journal article
- Language
- en
- Open access
- closed
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- Baker, R. C., & Urban, T. L. (1988). A Deterministic Inventory System with an Inventory-Level-Dependent Demand Rate. Journal of the Operational Research Society. https://doi.org/10.1057/jors.1988.142
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Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
