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Journal of Applied Sciences
  Year: 2008 | Volume: 8 | Issue: 3 | Page No.: 528-533
DOI: 10.3923/jas.2008.528.533
 
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Impact of Lead Time and Safety Factor in Mixed Inventory Models with Backorder Discounts

Ming-Cheng Lo, Jason Chao-Hsien Pan, Kai-Cing Lin and Jia-Wei Hsu

Abstract:
This study investigates the impact of safety factor on the continuous review inventory model involving controllable lead time with mixture of backorder discount and partial lost sales. The objective is to minimize the expected total annual cost with respect to order quantity, backorder price discount, safety factor and lead time. A model with normal demand is also discussed. Numerical examples are presented to illustrate the procedures of the algorithms and the effects of parameters on the result of the proposed models are analyzed.
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How to cite this article:

Ming-Cheng Lo, Jason Chao-Hsien Pan, Kai-Cing Lin and Jia-Wei Hsu, 2008. Impact of Lead Time and Safety Factor in Mixed Inventory Models with Backorder Discounts. Journal of Applied Sciences, 8: 528-533.

DOI: 10.3923/jas.2008.528.533

URL: https://scialert.net/abstract/?doi=jas.2008.528.533

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