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2012 (Vol. 4, Issue: 23)
Article Information:

The New Mathematical Models for Inventory Management under Uncertain Market

A. Mirzazadeh
Corresponding Author:  A. Mirzazadeh 

Key words:  Budget constraint, inflation, inventory systems, stochastic market demand, , ,
Vol. 4 , (23): 5034-5039
Submitted Accepted Published
March 03, 2012 March 24, 2012 December 01, 2012
Abstract:

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.
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  Cite this Reference:
A. Mirzazadeh, 2012. The New Mathematical Models for Inventory Management under Uncertain Market.  Research Journal of Applied Sciences, Engineering and Technology, 4(23): 5034-5039.
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ISSN (Online):  2040-7467
ISSN (Print):   2040-7459
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