In ventory Periodic Review Model (n q, R, T) With Quadratic Backorder Costs
Journal Title: International Journal of Scientific Research and Management - Year 2014, Vol 2, Issue 9
Abstract
At each review, the quantity ordered is a multiple of Q, nQ and the reorder level is R. The backorder cost C B (t) is taken as a question function of t, the length of time of the backorder. C B (t) is b 1 +b 2 +b 3 t 3 . The paper firstly gives the basic mathematics required for the analysis. The demand for, is assumed to follow a normal distribution. The expected backorder cost is derived. The inventory costs are derived superlatively for the factors b 1 , b 2 , and b 3 of the quadratic costs. By setting the b 1 , b 2 and b 3 to zero we have the inventory cost that is no t time dependent. Setting b 3 alone to zero, we obtain the inventory costs when the backorder cost is a linear function of the time of backorder.
Authors and Affiliations
Raphael Onyechefule Akalonu
Keywords
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