Volume : IX, Issue : VII, July - 2019
ITERATIVE ALGORITHM IN DETERMINISTIC INVENTORY MODEL FOR NON–DETERIORATING ITEMS
Anna Antonyova, Peter Antony
Abstract :
Setting the proper inventory model means replenishment rate, keeping the necessary inventory reserve according to demand and production process. Ordering price that is based on a fixed agreement of regular delivery is different from the reordering price. Researchers in the articles available in the literature considered mostly the inventory model for constant demand or linearly changing demand. The presented deterministic inventory model describes the system of replenishment rate in terms of un–regular, non–fixed demand that is typical especially for SMEs. The model prevent the situation if, due to the lack of some material, production has to be stopped or interrupted for a certain period of time. The model is based on iterative method using the advantages of modern information technology
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DOI : 10.36106/ijar
Cite This Article:
ITERATIVE ALGORITHM IN DETERMINISTIC INVENTORY MODEL FOR NON-DETERIORATING ITEMS, Anna Antonyova, Peter Antony INDIAN JOURNAL OF APPLIED RESEARCH : Volume-9 | Issue-7 | July-2019
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ITERATIVE ALGORITHM IN DETERMINISTIC INVENTORY MODEL FOR NON-DETERIORATING ITEMS, Anna Antonyova, Peter Antony INDIAN JOURNAL OF APPLIED RESEARCH : Volume-9 | Issue-7 | July-2019
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