Maximization of the return on inventory management expense in a system with price- and stock-dependent demand rate

2021 ◽  
Vol 127 ◽  
pp. 105134
Author(s):  
Valentín Pando ◽  
Luis A. San-José ◽  
Joaquín Sicilia ◽  
David Alcaide-López-de-Pablo
Keyword(s):  
Inventory Management ◽  
Stock Dependent Demand ◽  
Demand Rate ◽  
Dependent Demand Rate ◽  
Dependent Demand

scholarly journals Dynamics and Control on a Discrete Multi-Inventory System

2019 ◽  
Vol 2019 ◽  
pp. 1-7
Author(s):  
Yuzhen Wang ◽  
Li Xu
Keyword(s):  
Objective Function ◽  
Net Profit ◽  
Stock Dependent Demand ◽  
Dynamics And Control ◽  
Demand Rate ◽  
The Difference ◽  
Improved Model ◽  
And Control ◽  
Dependent Demand Rate ◽  
Dependent Demand

In this paper, a discrete two item inventory model for deteriorating items with a linear stock dependent demand rate without regular supply is given first; then, regular supply is taken into account, which may be regarded as feedback control. An objective function is formed to calculate the net profit with respect to possible profits and possible loss. A necessary criterion for the steady state optimal control problem for optimizing the objective function subjected to the constraints given by the difference equations of the inventory is obtained. At last, an improved model is put forward.

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