Implementation of Deterministic Inventory Models with Backorders and Lost Sales in a Retail Company

Haluk Aygüneş; Gözde Yıldız

Research Article

Implementation of Deterministic Inventory Models with Backorders and Lost Sales in a Retail Company

Year 2019, Volume: 16 Issue: 1, 17 - 34, 31.05.2019

Abstract

A study is carried out on inventory planning and control for a retail
company which sells electronics and computer parts. Deterministic inventory
models are used with a consideration of backorders and lost sales. In stockout,
some sales are completely backordered, some are completely lost, and some are
partially backordered while the rest is lost. Each of these cases are analyzed
separately with the aim of determining minimum cost order quantities.

Keywords

Inventory, EOQ, Backorder, Lost sales, Partial backordering

References

D.C. Montgomery, M.S. Bazaraa, A.K. Keswani, Inventory models with a mixture of backorders and lost sales, Naval Research Logistics Quarterly, 20(2), (1973), 255-263.
F. Harris, How many parts to make at once, Factory, The Magazine of Management, 10(2), (1913), 135–136, 152.
P.H. Zipkin, Foundations of Inventory Management, McGraw-Hill, New York, (2000).
D. Waters, Inventory Control and Management, Wiley, England, (2003).
D. Rosenberg, A new analysis of a lot-size model with partial backordering, Naval Research Logistics Quarterly, 26(2), (1979), 349–353.
K.S. Park, Inventory model with partial backorders, International Journal of Systems Science, 13(12), (1982), 1313–1317.
D.W. Pentico, Matthew J. Drake, The deterministic EOQ with partial backordering: A new approach, European Journal of Operational Research, 194(1), (2009), 102–113.
L.A. San José, J. Sicilia, J. García-Laguna, An inventory system with partial backlogging modeled according to a linear function, Asia-Pacific Journal of Operations Research, 22(2), (2005), 189–209.
L.A. San José, J. Sicilia, J. García-Laguna, The lot size-reorder level inventory system with customers impatience functions, Computers and Industrial Engineering, 49(3), (2005), 349–362.
L.A. San José, J. Sicilia, J. García-Laguna, Analysis of an inventory system with exponential partial backordering, International Journal of Production Economics, 100(1), (2006), 76–86.
L.A. San José, J. Sicilia, J. García-Laguna, An economic lot-size model with partial backlogging hinging on waiting time and shortage period, Applied Mathematical Modeling, 31(10), (2007), 2149–2159.
H.-M. Wee, Deteriorating inventory model with quantity discount, pricing and partial backordering, International Journal of Production Economics, 59(1), (1999), 511–518.
G.K. Yang, S.-Y. Chou, C.-Y. Hung, J. S.-J. Lin, P. Chu, Research note on the criteria for the optimal solution of the inventory model with a mixture of partial backordering and lost sales, Applied Mathematical Modelling, 32(1), (2008), 1758–1768.
B. Sarkar, S. Sarkar, An improved inventory model with partial backlogging, time varying deterioration and stock-dependent demand, Economic Modelling, 30(1), (2013), 924-932.
R. Peterson, E. Silver, Decision Systems for Inventory Management and Production Planning, Wiley, New York, (1988).
W.L. Winston, Operations Research, Cengage Learning, USA, (2004).

Year 2019, Volume: 16 Issue: 1, 17 - 34, 31.05.2019

Haluk Aygüneş , Gözde Yıldız

Abstract

References

D.C. Montgomery, M.S. Bazaraa, A.K. Keswani, Inventory models with a mixture of backorders and lost sales, Naval Research Logistics Quarterly, 20(2), (1973), 255-263.
F. Harris, How many parts to make at once, Factory, The Magazine of Management, 10(2), (1913), 135–136, 152.
P.H. Zipkin, Foundations of Inventory Management, McGraw-Hill, New York, (2000).
D. Waters, Inventory Control and Management, Wiley, England, (2003).
D. Rosenberg, A new analysis of a lot-size model with partial backordering, Naval Research Logistics Quarterly, 26(2), (1979), 349–353.
K.S. Park, Inventory model with partial backorders, International Journal of Systems Science, 13(12), (1982), 1313–1317.
D.W. Pentico, Matthew J. Drake, The deterministic EOQ with partial backordering: A new approach, European Journal of Operational Research, 194(1), (2009), 102–113.
L.A. San José, J. Sicilia, J. García-Laguna, An inventory system with partial backlogging modeled according to a linear function, Asia-Pacific Journal of Operations Research, 22(2), (2005), 189–209.
L.A. San José, J. Sicilia, J. García-Laguna, The lot size-reorder level inventory system with customers impatience functions, Computers and Industrial Engineering, 49(3), (2005), 349–362.
L.A. San José, J. Sicilia, J. García-Laguna, Analysis of an inventory system with exponential partial backordering, International Journal of Production Economics, 100(1), (2006), 76–86.
L.A. San José, J. Sicilia, J. García-Laguna, An economic lot-size model with partial backlogging hinging on waiting time and shortage period, Applied Mathematical Modeling, 31(10), (2007), 2149–2159.
H.-M. Wee, Deteriorating inventory model with quantity discount, pricing and partial backordering, International Journal of Production Economics, 59(1), (1999), 511–518.
G.K. Yang, S.-Y. Chou, C.-Y. Hung, J. S.-J. Lin, P. Chu, Research note on the criteria for the optimal solution of the inventory model with a mixture of partial backordering and lost sales, Applied Mathematical Modelling, 32(1), (2008), 1758–1768.
B. Sarkar, S. Sarkar, An improved inventory model with partial backlogging, time varying deterioration and stock-dependent demand, Economic Modelling, 30(1), (2013), 924-932.
R. Peterson, E. Silver, Decision Systems for Inventory Management and Production Planning, Wiley, New York, (1988).
W.L. Winston, Operations Research, Cengage Learning, USA, (2004).

There are 16 citations in total.

Details

Primary Language	English
Subjects	Engineering
Journal Section	Articles
Authors	Haluk Aygüneş 0000-0002-4680-4077 Gözde Yıldız This is me
Publication Date	May 31, 2019
Published in Issue	Year 2019 Volume: 16 Issue: 1

Cite

APA	Aygüneş, H., & Yıldız, G. (2019). Implementation of Deterministic Inventory Models with Backorders and Lost Sales in a Retail Company. Cankaya University Journal of Science and Engineering, 16(1), 17-34.
AMA	Aygüneş H, Yıldız G. Implementation of Deterministic Inventory Models with Backorders and Lost Sales in a Retail Company. CUJSE. May 2019;16(1):17-34.
Chicago	Aygüneş, Haluk, and Gözde Yıldız. “Implementation of Deterministic Inventory Models With Backorders and Lost Sales in a Retail Company”. Cankaya University Journal of Science and Engineering 16, no. 1 (May 2019): 17-34.
EndNote	Aygüneş H, Yıldız G (May 1, 2019) Implementation of Deterministic Inventory Models with Backorders and Lost Sales in a Retail Company. Cankaya University Journal of Science and Engineering 16 1 17–34.
IEEE	H. Aygüneş and G. Yıldız, “Implementation of Deterministic Inventory Models with Backorders and Lost Sales in a Retail Company”, CUJSE, vol. 16, no. 1, pp. 17–34, 2019.
ISNAD	Aygüneş, Haluk - Yıldız, Gözde. “Implementation of Deterministic Inventory Models With Backorders and Lost Sales in a Retail Company”. Cankaya University Journal of Science and Engineering 16/1 (May 2019), 17-34.
JAMA	Aygüneş H, Yıldız G. Implementation of Deterministic Inventory Models with Backorders and Lost Sales in a Retail Company. CUJSE. 2019;16:17–34.
MLA	Aygüneş, Haluk and Gözde Yıldız. “Implementation of Deterministic Inventory Models With Backorders and Lost Sales in a Retail Company”. Cankaya University Journal of Science and Engineering, vol. 16, no. 1, 2019, pp. 17-34.
Vancouver	Aygüneş H, Yıldız G. Implementation of Deterministic Inventory Models with Backorders and Lost Sales in a Retail Company. CUJSE. 2019;16(1):17-34.