| Summary: | 碩士 === 國立臺灣科技大學 === 工業管理系 === 92 === In 2001, Wee and Law (Int. J. Production Economics 71 (2001) 213-220) discussed a deteriorating inventory model with inflation. In essence, they concentrated on the formulation of the inventory model but did not present a concrete solution procedure to solve the model. The model was concerned with the continuous, deterministic case of an inventory system in which the deteriorating rate follows a two-parameter Weibull distribution, and the demand rate of item was a decreasing linear function of the selling price, and it took into account the time-value of money. Although Wee and Law(2001) [1] gave the decision for finding the optimal quantity, their decision was not very solid and clear. Hence, their decision rule was not easily executed to find the optimal order quantity.
Consequently, their approach in solving the problems needs further analysis. The main purpose of this paper was to present a rather concrete and easily executive algorithm to solve the model. Numerical examples are given to illustrate the algorithm in the paper.
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