This paper presents a complete and up-to-date survey of published inventory literature for the deteriorating (decaying) inventory models. More specifically, those papers are addressed that consider the effect of deterioration as a function of the on-hand level of inventory. The basic features, extensions and generalization of various models are discussed. A classification scheme is presented along with suggestions for future research.
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Raafat, F. Survey of Literature on Continuously Deteriorating Inventory Models. J Oper Res Soc 42, 27–37 (1991). https://doi.org/10.1057/jors.1991.4
- deteriorating inventory model
- decaying models