Inventory models with a negative exponental crashing cost taking time value into account
Journal
Journal of the Operations Research Society of Japan
Journal Volume
51
Journal Issue
3
Pages
213-224
Date Issued
2008
Author(s)
Abstract
This paper discusses the inventory replenishment policy over an infinite planning horizon with a negative exponential lead time crashing cost, taking time value into account. Our work is based on the paper of Ben-Daya and Raouf that has been cited 65 times. We extend their model to incorporate the time value of money and then find the criterion to decide the optimal solution. Numerical examples illustrate our findings to demonstrate that we provide an easy and efficient procedure to find the optimal solution.
SDGs
Type
journal article