A forward with backward inventory policy algorithm for nonlinear increasing demand and shortage backorders
by Ririn Diar Astanti; Huynh Trung Luong; Hui Ming Wee; The Jin Ai
International Journal of Mathematics in Operational Research (IJMOR), Vol. 13, No. 4, 2018

Abstract: The traditional inventory policies have been developed for constant demand processes. In reality, demand is not always stable; it might have an increasing pattern. In this paper, a forward with backward inventory policy algorithm is developed to determine the operational parameters of an inventory system with a nonlinear increasing demand rate, shortage backorders and a finite planning horizon. Numerical experiments are also conducted to compare the results with the existing techniques and to illustrate the applicability of the proposed technique.

Online publication date: Mon, 08-Oct-2018

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