Optimal ordering time interval taking account of time value

Kun‐Jen Chung

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Supply Chain and Inventory Management Management and Optimization Techniques Optimization and Mathematical Programming

Abstract

In this paper, the optimal inventory policies for an infinite lime span taking account of time value is discussed. First, bounds for the optimal ordering time interval are derived. Second, with these bounds, a simple algorithm to compute die optimal ordering time interval is developed. Numerical examples are given to illustrate the algorithm.

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1983Economic analysis of inventory systems 1974A PRESENT VALUE FORMULATION OF THE CLASSICAL EOQ PROBLEM*1988Error bounds for EOQ 1992A note on optimal inventory policies taking account of time value

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2016Two-warehouse inventory model with non-instantaneously deteriorating items, stock-dependent demand, shortages and inflation

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