Study On Inventory Model For Deteriorating Items With Stochastic Lead Time

There is a large number of deteriorate goods, whose lead time has the very strong randomness, which requires that enterprises need to use more reasonable inventory management strategy according to the object properties and the randomness of lead time, to reduce the loss from deterioration, and then get the optimal combination between total costs and benefits. Therefore, the study on inventory model for deteriorating items with stochastic lead time has important practical value and theoretical significance.Reviewing the inventory model with stochastic lead time and deteriorating items, this paper simply introduces the related theory and basic knowledge of inventory management, lead time and perishable products, elaborates the determination of reorder point, probability distribution of lead-time and deterioration rate of deteriorating items and other related content.The paper establishes stochastic lead time inventory model for non deteriorating items with fixed demand, lead time obeys a certain distribution function and shortage allowed, all the costs of system are analyzed and the existence and solving of optimal solution is given. Then the paper establishes stochastic lead time inventory model for deteriorating items, it also proves the existence of optimal solution and gives solution algorithm of the optimal solution.It's also attaches importance to the application of the model, gives empirical analysis for the two models respectively, then obtains optimal order quantity and the minimum inventory cost. At the same time, it analyses the sensitivity of the main parameters in detail.