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dc.contributor.authorSan José Nieto, Luis Augusto
dc.contributor.authorSicilia Rodríguez, Joaquín 
dc.contributor.authorPando Fernández, Valentín
dc.contributor.authorAlcaide López de Pablo, David 
dc.date.accessioned2024-01-22T21:07:13Z
dc.date.available2024-01-22T21:07:13Z
dc.date.issued2022
dc.identifier.issn0305-0548
dc.identifier.urihttp://riull.ull.es/xmlui/handle/915/35533
dc.description.abstractIn this article, we study an inventory system for items that have a power demand pattern and where shortages are allowed. We suppose that only a fixed proportion of demand during the stock-out period is backordered. The decision variables are the inventory cycle and the ratio between the initial stock and the total quantity demanded throughout the inventory cycle. The objective is to maximize the Return on Inventory Investment (ROII) defined as the ratio of the profit per unit time over the average inventory cost. After analysing the objective function, the optimal global solutions for all the possible cases of the inventory problem are determined. These optimal policies that maximize the ROII are, in general, different from those that minimize the total inventory cost per unit time. Finally, a numerical sensitivity analysis of the optimal inventory policy with respect to the system input parameters and some useful managerial insights derived from the results are presented.en
dc.format.mimetypeapplication/pdf
dc.language.isoen
dc.relation.ispartofseriesComputers and Operations Research (2022), Vol. 145, 105861
dc.rightsLicencia Creative Commons (Reconocimiento-No comercial-Sin obras derivadas 4.0 Internacional)
dc.rights.urihttps://creativecommons.org/licenses/by-nc-nd/4.0/deed.es_ES
dc.titleAn inventory system with time-dependent demand and partial backordering under return on inventory investment maximization
dc.typeinfo:eu-repo/semantics/article
dc.identifier.doi10.1016/j.cor.2022.105861
dc.subject.keywordInventory systemsen
dc.subject.keywordReturn on Inventory Investmenten
dc.subject.keywordTime-dependent demanden
dc.subject.keywordPartial backorderingen
dc.subject.keywordShortage costsen


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Licencia Creative Commons (Reconocimiento-No comercial-Sin obras derivadas 4.0 Internacional)
Except where otherwise noted, this item's license is described as Licencia Creative Commons (Reconocimiento-No comercial-Sin obras derivadas 4.0 Internacional)