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http://dx.doi.org/10.7737/JKORMS.2014.39.1.083

Partial Backordering Inventory Model under Purchase Dependence  

Park, Changkyu (College of Business, University of Ulsan)
Publication Information
Journal of the Korean Operations Research and Management Science Society / v.39, no.1, 2014 , pp. 83-100 More about this Journal
Abstract
Retail shops often experience purchase dependence in which some items are purchased together by customers due to their unknown interior associations. This paper develops an inventory model considering partial backordering under purchase dependence and compares the performance of the inventory model that ignores purchase dependence. Computational analyses show that purchase dependence should be incorporated as an important factor of inventory replenishment policy because the impact of purchase dependence can be more significant as the lost portion of the unmet demand orders increases and the item set is more correlated in terms of order demand.
Keywords
Inventory; EOQ; Partial Backordering; Correlated Demand; Purchase Dependence;
Citations & Related Records
Times Cited By KSCI : 2  (Citation Analysis)
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