Hybrid Method for Solving Inventory Problems with a Linear Increasing Demand without Shortages
AbstractOsagiede and Omosigho (2004) proposed a direct search method for identifying the number of replenishment when the demand pattern is linearly increasing. The main computational task in this direct search method was associated with finding the optimal number of replenishments. To accelerate the use of this method, the present paper proposed a hybrid technique for obtaining the optimal number of replenishment. A simple and easily implementable algorithm of the hybrid method was presented. The scheme was implemented using a computer program written in MATHLAB. Furthermore, some erroneous impression from the literature was corrected. Numerical examples are given to demonstrate the hybrid procedure.
Keywords: Inventory problems, linear predictor-corrector, replenishment, hybrid
International Journal of Natural and Applied Sciences, 5(3): 255-258, 2009