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Abstract
This paper considers an economic order quantity model with the assumptions that (1) demand rate is deterministic and linearly changes with time, (2) shortages are allowed, (3) deterioration rate is constant, (4) planning horizon is finite and known, and (5) replenishment periods are not equal. The model is solved using a dynamic programming method. The result is applicable to the cases of both increasing and decreasing demand. A numerical example is provided to illustrate the results.
Notes
Handled by the Department of Inventory.