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The discounted (R,Q) inventory model: the Shrewd Accountant's Heuristic
Linnaeus University, Faculty of Science and Engineering, School of Engineering.
Linnaeus University, Faculty of Science and Engineering, School of Engineering.
2012 (English)In: / [ed] Robert W. Grubbström and Hans H. Hinterhuber, 2012, p. 83-95Conference paper, Oral presentation only (Refereed)
Abstract [en]

The discounted continuous-review (R,Q) inventory model with continuous and stochastic demand is investigated, generalizing and refining Hadley's (1964) work. A new optimality condition is derived, clarifying the difference to the average cost case. Based on depreciation theory, applied to the value of a set-up,a very easy and extremly precise approximation is suggested, based on the average cost model- The Shrewd Accountant's Heuristic. A few examples are worked out in detail.

Place, publisher, year, edition, pages
2012. p. 83-95
Keywords [en]
discounted inventory model, (R, Q) policies, depreciations, approximations
National Category
Mechanical Engineering
Research subject
Technology (byts ev till Engineering), Industrial economy
Identifiers
URN: urn:nbn:se:lnu:diva-21660OAI: oai:DiVA.org:lnu-21660DiVA, id: diva2:552364
Conference
Seventeenth International Working Seminar on Production Economics, Innsbruck, Austria, February 20-24
Available from: 2012-09-13 Created: 2012-09-13 Last updated: 2015-04-20Bibliographically approved

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No full text in DiVA

Other links

http://www.medifas.net/IGLS/Papers2012/Paper018.pdf

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Farvid, MojtabaRosling, Kaj

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CiteExportLink to record
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Citation style
  • apa
  • harvard1
  • ieee
  • modern-language-association-8th-edition
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Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
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Output format
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  • text
  • asciidoc
  • rtf