TY  - JOUR
T1  - An Economic Lot Size Model with Shortages and Inflation
AU - Adebiyi, K.A. AU - Oluleye, A.E. AU - Onawumi, A.S. 
JO  - International Business Management
VL  - 3
IS  - 4
SP  - 75
EP  - 79
PY  - 2009
DA  - 2001/08/19
SN  - 1993-5250
DO  - ibm.2009.75.79
UR  - https://makhillpublications.co/view-article.php?doi=ibm.2009.75.79
KW  - production planning
KW  -interest rate
KW  -Inventory management
KW  -Inflation rate
KW  -shortage cost
AB  - Inflation is a plague, which characterized the economy of many developing countries especially, in the current global economic meltdown. This effect influenced cases of both explainable and unexplainable shortages in production inventory. In this study, the management of inventory under twin limiting situations of inflation and shortages were considered. Also, presented was a model for determination of economic lot size, which includes the two conditions, time value of money and comparative study of corresponding cost implications using numerical example to illustrate the developed model.
ER  -