AN EPQ MODEL FOR DETERIORATING ITEMS UNDER LIFO POLICY

抄録

Inventory level in production quantity model has been developed for items that deteriorate contin-uously in accordance with a general probability distribution under Last In First Out (LIFO) issuing policy. From the result developed, the earlier model by Misra for constant rate of deterioration can be obtained as a particular case. An approximate formula is derived using perturbation techniques. To illustrate the use of the formula an example problem is solved and an approximate optimum production quantity is found.