Inventory policies for monotonic change in the purchase price
by Suresha Kharvi; T.P.M. Pakkala
International Journal of Mathematics in Operational Research (IJMOR), Vol. 22, No. 3, 2022

Abstract: This article considers an optimal inventory policy for monotonic change in the purchase price where price change depends on the number of orders made. The planning horizon is considered as finite and yearly demand is assumed to be constant and known. A closed-form solution is obtained for the optimal order lengths. These closed-form solutions will be very useful to business managers. An algorithm is given to determine the optimal number of orders during the planning horizon. Some of the interesting properties of the optimal order quantities are discussed. A numerical example and sensitivity analysis are carried out to support the theoretical results.

Online publication date: Thu, 14-Jul-2022

The full text of this article is only available to individual subscribers or to users at subscribing institutions.

 
Existing subscribers:
Go to Inderscience Online Journals to access the Full Text of this article.

Pay per view:
If you are not a subscriber and you just want to read the full contents of this article, buy online access here.

Complimentary Subscribers, Editors or Members of the Editorial Board of the International Journal of Mathematics in Operational Research (IJMOR):
Login with your Inderscience username and password:

Username:        Password:          Forgotten your password?

Want to subscribe?
A subscription gives you complete access to all articles in the current issue, as well as to all articles in the previous three years (where applicable). See our Orders page to subscribe.

If you still need assistance, please email subs@inderscience.com