Sentence examples for substitutable item from inspiring English sources

The first inventory model of substitutable item was studied by McGillivray and Silver (1978) by considering that all of the substitutable items have the same unit variable cost and shortage penalty.

If one of the items is out of stock then its demand will be fulfilled by the second item and if any demand is not met by substitutable item it will be completely lost.

Recently, Krommyda et al. (2015), Salameh et al. (2014), Rasouli and NakhaiKamalabadi (2014), and Gerchack and Grosfeld (1999) developed inventory model for two substitutable item with deterministic demand, constant holding cost and fixed ordering cost but no one considered the effect of deterioration in inventory decision of substitutable items.

This paper makes the model of Krommyda et al. (2015), Salameh et al. (2014), and Rasouli and NakhaiKamalabadi (2014) more realistic and applicable by taking into account the effect of deterioration and cost of substitution on inventory of the substitutable items.

Demand is considered as a constant function for both mutually substitutable items.

The substitutable items in which sufficient deterioration can take place during the normal storage period of the units and consequently this loss must be taken into account when analyzing the inventory system of substitutable items, i.e. the effect of deterioration plays a vital role in the decision of ordering quantity of substitutable deteriorating items.

Thus, in subsequent paragraph, first, we discuss about recent and previous advancement in the inventory modelling of deteriorating items then inventory modelling of substitutable items.

Such substitution costs may arise due to a variety of reasons: the cost of the reworking required on an item to make it substitutable for the other, loss of a customer's goodwill due to substitution, etc. Deterioration of physical goods in stock is a very realistic feature and there is a big need to consider it in the inventory modelling of substitutable items.

In the recent years, little bit attention has been given in the research for the stock-out-based substitution within the EOQ setting under deterministic demand and to the best of our knowledge no one consider the concept of deterioration for the substitutable items with deterministic demand and joint replenishment.

In this paper, we presented an inventory model for two substitutable deteriorating items under joint replenishment in each replenishment cycle.

As stated before, we consider an inventory system for two mutually substitutable deteriorating items under the assumptions as mentioned in "Assumptions and notations" Section.