Title :
A Kind of Inventory Policy Model under the Financial Budget
Author :
Sun Jinzhong ; Lin Jian
Author_Institution :
Sch. of Manage., Beihang Univ., Beijing
Abstract :
The existed inventory models hardly consider the impact effect on the price of stock item by the inventory actions of enterprises. On the assumption that the supply of stock item is fixed, the paper analyses the impact effects of inventory actions and gets the optimal dynamic inventory policy under the financial budget. The result of simulations illustrates that the inventory actions of enterprises has certain affections on the price of item. Under the continuous changes of item price and residual inventory bankroll, the optimal inventory policy is a process of dynamic adjustment, and the optimal purchase quantity in every stock period increases by degree.
Keywords :
banking; budgeting; inventory management; optimisation; pricing; financial budget; inventory bankroll; inventory policy model; item price; optimal dynamic inventory policy; optimal purchase quantity; stock item supply; Arithmetic; Cost function; Delay effects; Displays; Dynamic programming; Forward contracts; Gaussian distribution; Inventory management; Investments; Sun;
Conference_Titel :
Wireless Communications, Networking and Mobile Computing, 2007. WiCom 2007. International Conference on
Conference_Location :
Shanghai
Print_ISBN :
978-1-4244-1311-9
DOI :
10.1109/WICOM.2007.1089