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Abstract
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Article Information:
The New Mathematical Models for Inventory Management under Uncertain Market
A. Mirzazadeh
Corresponding Author: A. Mirzazadeh
Submitted: March 03, 2012
Accepted: March 24, 2012
Published: December 01, 2012 |
Abstract:
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This paper presents the new mathematical model for determining the optimal ordering policy for
industrial and commercial companies. In the previous research, the numerous inventory models under
inflationary conditions have been developed. In these models, the demand rate, usually, has been considered
constant and well known, time-varying, stock dependent or price-dependent. But, the demand rate, usually, is
uncertain in the real world. Therefore, in this study, the new inflationary inventory models under stochastic
demand conditions have been developed. The inventory system is in the state of multi-items with budget
constraint. The numerical examples have also been given to illustrate and validate the theoretical results.
Key words: Budget constraint, inflation, inventory systems, stochastic market demand, , ,
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Cite this Reference:
A. Mirzazadeh, . The New Mathematical Models for Inventory Management under Uncertain Market. Research Journal of Applied Sciences, Engineering and Technology, (23): 5034-5039.
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ISSN (Online): 2040-7467
ISSN (Print): 2040-7459 |
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