Economic order quantity model for deteriorating items with planned backorder level

In this study, a deteriorating inventory problem with and without backorders is developed. From the literature search, this study is one of the first attempts by researchers to solve a deteriorating inventory problem with a simplified approach. The optimal solutions are compared with the classical methods for solving deteriorating inventory model. The total cost of the simplified model is almost identical to the original model. (C) 2011 Elsevier Ltd. All rights reserved.