A Two-Product Inventory Model with a Joint Ordering Policy
| dc.contributor.author | Masache, A. | |
| dc.date.accessioned | 2017-01-04T13:34:48Z | |
| dc.date.accessioned | 2023-06-23T13:32:54Z | |
| dc.date.available | 2017-01-04T13:34:48Z | |
| dc.date.available | 2023-06-23T13:32:54Z | |
| dc.date.issued | 2013-10-12 | |
| dc.description | This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. | en_US |
| dc.description.abstract | Inventory is one of themost visible and tangible aspects of doing business.This is the reason whymost problems of a business often end up in inventory. Most inventory studies focus on a single type of product or item such that optimality decisions are arrived at for that single product. In this study, we create a scenario where two types of products are considered in such a way that there exists a joint ordering policy. A continuous review inventory model was developed but ended up with a single period review model for simplicity reasons.We tried to exhaust all main cost elements and fed them into the model in addition to investigating the possible limitations that may constrain the whole decision making process. Six constraints were found and a mathematical programming model was developed. We further went on to prove that the mathematical inventory-programming model developed minimises the total inventory cost in such a scenario. | en_US |
| dc.identifier.citation | Masache, A. (2013) ‘A Two-Product inventory model with a joint ordering policy’, Advances in Decision Sciences, 2013, pp. 1–5. doi: 10.1155/2013/595074. | en_US |
| dc.identifier.uri | http://196.220.97.103:4000/handle/123456789/783 | |
| dc.language.iso | en | en_US |
| dc.publisher | Hindawi Publishing Corporation | en_US |
| dc.title | A Two-Product Inventory Model with a Joint Ordering Policy | en_US |
| dc.type | Article | en_US |