Optimal Replenishment Strategy for Inventory Mechanism with a Known Price Increase and Backordering in Finite Horizon

<table class="table-group" id="tab4"><tr><td><table class="table"><tr><td class="thead-hr" colspan="6"><hr/></td></tr><tr class="thead"><td class="align_left">Policy</td><td class="align_center"><span style="width: 13.4338ptpx;"><svg height="11.927pt" id="M262" style="vertical-align:-3.291101pt" version="1.1" viewbox="-0.0498162 -8.6359 13.4338 11.927" width="13.4338pt" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink"><g transform="matrix(.013,0,0,-0.013,0,0)"><path d="M699 368C699 549 574 666 407 666C186 666 23 488 23 277C23 113 129 -3 288 -13L307 -26C431 -111 501 -139 533 -147C559 -154 613 -163 658 -164L666 -141C597 -111 507 -66 430 -11L416 -1C580 42 699 190 699 368ZM601 371C601 227 518 54 381 22L354 40L278 24C175 47 120 145 120 269C120 451 235 631 398 631C540 631 601 521 601 371Z"></path></g><g transform="matrix(.0091,0,0,-0.0091,9.321,3.132)"><path d="M357 391C357 416 325 451 270 451C241 451 179 431 146 400C109 365 97 334 97 307C97 248 143 213 196 180C250 146 261 123 261 101C261 75 237 40 190 40C153 40 110 72 86 109C81 116 68 119 55 112C37 102 24 87 24 66C24 30 85 -12 137 -12C229 -12 331 62 331 140C331 189 304 218 236 260C197 284 164 309 164 346C164 381 194 400 220 400C259 400 282 380 304 350C310 342 321 339 330 344C347 353 357 372 357 391Z"></path></g></svg></span></td><td class="align_center"><span style="width: 22.3216ptpx;"><svg height="11.439pt" id="M263" style="vertical-align:-2.15067pt" version="1.1" viewbox="-0.0498162 -9.28833 22.3216 11.439" width="22.3216pt" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink"><g transform="matrix(.013,0,0,-0.013,0,0)"><path d="M766 88L752 113C719 83 690 64 681 64C674 64 672 74 679 103L724 292C758 436 724 448 701 448C680 448 666 442 639 429C594 407 514 350 441 252H439L447 289C476 423 450 448 419 448C398 448 379 441 355 427C307 400 234 344 162 249H160L180 324C203 409 197 448 170 448C144 448 82 413 23 349L35 321C57 343 96 374 108 374C115 374 117 371 111 341C87 227 57 112 24 -6L32 -12C53 -4 81 4 108 6C119 68 134 128 149 171C177 229 309 383 364 383C387 383 388 355 373 282C354 190 330 92 303 -6L309 -12C332 -4 356 3 386 6C396 63 411 122 424 171C458 236 590 383 642 383C658 383 664 369 652 315L603 91C587 20 593 -12 619 -12C642 -12 708 23 766 88Z"></path></g><g transform="matrix(.013,0,0,-0.013,10.257,0)"><path d="M368 -163L103 703H44L308 -163H368Z"></path></g><g transform="matrix(.013,0,0,-0.013,15.608,0)"><path d="M495 86L479 114C446 82 419 66 409 66C401 66 401 72 406 97C420 166 436 231 453 297C489 435 454 448 428 448C406 448 384 439 354 422C305 394 222 327 161 247H159L183 345C200 415 194 448 173 448C143 448 82 410 23 351L38 325C64 349 95 371 105 371C111 371 116 365 109 336L25 -4L31 -12C50 -4 77 3 107 9C119 69 132 122 145 168C197 254 321 381 370 381C387 381 393 374 378 305L329 95C309 17 320 -12 345 -12C372 -12 430 19 495 86Z"></path></g></svg></span></td><td class="align_center"><span style="width: 28.1136ptpx;"><svg height="13.5868pt" id="M264" style="vertical-align:-2.1507pt" version="1.1" viewbox="-0.0498162 -11.4361 28.1136 13.5868" width="28.1136pt" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink"><g transform="matrix(.013,0,0,-0.013,0,0)"><path d="M699 368C699 549 574 666 407 666C186 666 23 488 23 277C23 113 129 -3 288 -13L307 -26C431 -111 501 -139 533 -147C559 -154 613 -163 658 -164L666 -141C597 -111 507 -66 430 -11L416 -1C580 42 699 190 699 368ZM601 371C601 227 518 54 381 22L354 40L278 24C175 47 120 145 120 269C120 451 235 631 398 631C540 631 601 521 601 371Z"></path></g><g transform="matrix(.013,0,0,-0.013,9.386,0)"><path d="M368 -163L103 703H44L308 -163H368Z"></path></g><g transform="matrix(.013,0,0,-0.013,14.737,0)"><path d="M699 368C699 549 574 666 407 666C186 666 23 488 23 277C23 113 129 -3 288 -13L307 -26C431 -111 501 -139 533 -147C559 -154 613 -163 658 -164L666 -141C597 -111 507 -66 430 -11L416 -1C580 42 699 190 699 368ZM601 371C601 227 518 54 381 22L354 40L278 24C175 47 120 145 120 269C120 451 235 631 398 631C540 631 601 521 601 371Z"></path></g><g transform="matrix(.0091,0,0,-0.0091,24.123,-5.741)"><path d="M310 541L304 571C290 586 211 619 185 610L80 76L131 52L310 541Z"></path></g></svg></span></td><td class="align_center"><span style="width: 24.9558ptpx;"><svg height="13.5868pt" id="M265" style="vertical-align:-2.1507pt" version="1.1" viewbox="-0.0498162 -11.4361 24.9558 13.5868" width="24.9558pt" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink"><g transform="matrix(.013,0,0,-0.013,0,0)"><path d="M578 512C578 619 494 650 387 650H140L134 622C219 615 223 609 210 542L127 119C112 40 104 34 23 28L17 0H235C317 0 387 7 444 33C515 65 564 122 564 195C564 289 495 335 412 352V354C505 373 578 422 578 512ZM486 510C486 422 423 367 314 367H257L294 565C299 591 305 602 315 608C324 614 339 617 362 617C421 617 486 595 486 510ZM466 200C466 100 393 35 296 35C222 35 198 51 212 127L250 333H303C388 333 466 303 466 200Z"></path></g><g transform="matrix(.013,0,0,-0.013,7.813,0)"><path d="M368 -163L103 703H44L308 -163H368Z"></path></g><g transform="matrix(.013,0,0,-0.013,13.164,0)"><path d="M578 512C578 619 494 650 387 650H140L134 622C219 615 223 609 210 542L127 119C112 40 104 34 23 28L17 0H235C317 0 387 7 444 33C515 65 564 122 564 195C564 289 495 335 412 352V354C505 373 578 422 578 512ZM486 510C486 422 423 367 314 367H257L294 565C299 591 305 602 315 608C324 614 339 617 362 617C421 617 486 595 486 510ZM466 200C466 100 393 35 296 35C222 35 198 51 212 127L250 333H303C388 333 466 303 466 200Z"></path></g><g transform="matrix(.0091,0,0,-0.0091,20.977,-5.741)"><path d="M310 541L304 571C290 586 211 619 185 610L80 76L131 52L310 541Z"></path></g></svg></span></td><td class="align_center"><span style="width: 24.186ptpx;"><svg height="12.5794pt" id="M266" style="vertical-align:-3.29107pt" version="1.1" viewbox="-0.0498162 -9.28833 24.186 12.5794" width="24.186pt" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink"><g transform="matrix(.013,0,0,-0.013,0,0)"><path d="M584 650H137L131 622C214 614 217 612 200 521L125 127C109 41 101 35 23 28L17 0H288L294 28C201 35 193 42 209 128L242 309H348C440 309 442 300 443 226H471L510 422H482C452 354 449 348 357 348H251L295 575C302 609 304 615 338 615H426C502 615 517 604 526 581C534 560 536 524 537 492L565 494C574 554 583 631 584 650Z"></path></g><g transform="matrix(.013,0,0,-0.013,7.895,0)"><path d="M368 -163L103 703H44L308 -163H368Z"></path></g><g transform="matrix(.013,0,0,-0.013,13.246,0)"><path d="M584 650H137L131 622C214 614 217 612 200 521L125 127C109 41 101 35 23 28L17 0H288L294 28C201 35 193 42 209 128L242 309H348C440 309 442 300 443 226H471L510 422H482C452 354 449 348 357 348H251L295 575C302 609 304 615 338 615H426C502 615 517 604 526 581C534 560 536 524 537 492L565 494C574 554 583 631 584 650Z"></path></g><g transform="matrix(.0091,0,0,-0.0091,20.032,3.132)"><path d="M357 391C357 416 325 451 270 451C241 451 179 431 146 400C109 365 97 334 97 307C97 248 143 213 196 180C250 146 261 123 261 101C261 75 237 40 190 40C153 40 110 72 86 109C81 116 68 119 55 112C37 102 24 87 24 66C24 30 85 -12 137 -12C229 -12 331 62 331 140C331 189 304 218 236 260C197 284 164 309 164 346C164 381 194 400 220 400C259 400 282 380 304 350C310 342 321 339 330 344C347 353 357 372 357 391Z"></path></g></svg></span></td></tr><tr><td class="thead-hr" colspan="6"><hr/></td></tr><tr><td class="align_left"><span style="width: 12.4317ptpx;"><svg height="9.14241pt" id="M267" style="vertical-align:-3.1815pt" version="1.1" viewbox="-0.0498162 -5.96091 12.4317 9.14241" width="12.4317pt" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink"><g transform="matrix(.013,0,0,-0.013,0,0)"><path d="M574 449L545 460C526 432 516 430 487 430C404 430 311 435 226 435C104 435 56 379 25 341L43 318C81 354 121 372 181 372C161 246 87 53 23 3L30 -12C48 -12 88 -4 113 11C157 75 207 248 232 371L386 367L326 109C321 86 318 66 318 50C318 4 339 -12 366 -12C410 -12 461 21 505 69L492 96C467 79 434 60 418 60C406 60 400 78 411 147C422 217 439 300 457 366C487 366 524 367 536 370C547 385 558 408 574 449Z"></path></g><g transform="matrix(.0091,0,0,-0.0091,7.358,3.132)"><path d="M389 0V32C297 38 291 46 291 118V635C234 613 175 595 109 583V556L161 554C203 552 207 547 207 497V118C207 46 201 38 110 32V0H389Z"></path></g></svg></span></td><td class="align_center">—</td><td class="align_center">29</td><td class="align_center">169.43</td><td class="align_center">98.83</td><td class="align_center">54457</td></tr><tr><td class="align_left"><span style="width: 12.4317ptpx;"><svg height="9.14241pt" id="M268" style="vertical-align:-3.1815pt" version="1.1" viewbox="-0.0498162 -5.96091 12.4317 9.14241" width="12.4317pt" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink"><g transform="matrix(.013,0,0,-0.013,0,0)"><path d="M574 449L545 460C526 432 516 430 487 430C404 430 311 435 226 435C104 435 56 379 25 341L43 318C81 354 121 372 181 372C161 246 87 53 23 3L30 -12C48 -12 88 -4 113 11C157 75 207 248 232 371L386 367L326 109C321 86 318 66 318 50C318 4 339 -12 366 -12C410 -12 461 21 505 69L492 96C467 79 434 60 418 60C406 60 400 78 411 147C422 217 439 300 457 366C487 366 524 367 536 370C547 385 558 408 574 449Z"></path></g><g transform="matrix(.0091,0,0,-0.0091,7.358,3.132)"><path d="M414 144C384 79 371 75 317 75H135L276 221C367 316 408 376 408 465C408 570 327 635 237 635C179 635 131 609 100 575L42 494L67 471C94 510 138 565 205 565C277 565 321 517 321 435C321 348 258 270 195 195C146 137 88 81 33 26V0H411C423 44 433 88 446 135L414 144Z"></path></g></svg></span></td><td class="align_center">—</td><td class="align_center">30</td><td class="align_center">163.67</td><td class="align_center">95.47</td><td class="align_center">54458</td></tr><tr><td class="align_left"><span style="width: 12.4317ptpx;"><svg height="9.25202pt" id="M269" style="vertical-align:-3.29111pt" version="1.1" viewbox="-0.0498162 -5.96091 12.4317 9.25202" width="12.4317pt" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink"><g transform="matrix(.013,0,0,-0.013,0,0)"><path d="M574 449L545 460C526 432 516 430 487 430C404 430 311 435 226 435C104 435 56 379 25 341L43 318C81 354 121 372 181 372C161 246 87 53 23 3L30 -12C48 -12 88 -4 113 11C157 75 207 248 232 371L386 367L326 109C321 86 318 66 318 50C318 4 339 -12 366 -12C410 -12 461 21 505 69L492 96C467 79 434 60 418 60C406 60 400 78 411 147C422 217 439 300 457 366C487 366 524 367 536 370C547 385 558 408 574 449Z"></path></g><g transform="matrix(.0091,0,0,-0.0091,7.358,3.132)"><path d="M290 377C321 398 342 415 358 430C378 450 389 473 389 502C389 578 329 635 238 635H237C184 635 137 610 109 578L64 515L88 493C112 529 154 573 208 573S303 542 303 482C303 409 233 370 141 341L149 308C165 313 190 319 215 319C272 319 341 283 341 193C342 98 292 43 222 43C163 43 122 72 96 94C88 101 79 100 70 94C61 87 47 73 46 60C44 47 48 37 62 23C76 10 118 -12 165 -12C238 -12 430 62 430 223C430 297 379 359 290 375V377Z"></path></g></svg></span></td><td class="align_center">214.89</td><td class="align_center">27</td><td class="align_center">173.94</td><td class="align_center">101.47</td><td class="align_center">54368</td></tr><tr><td class="align_left"><span style="width: 12.4317ptpx;"><svg height="9.14241pt" id="M270" style="vertical-align:-3.1815pt" version="1.1" viewbox="-0.0498162 -5.96091 12.4317 9.14241" width="12.4317pt" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink"><g transform="matrix(.013,0,0,-0.013,0,0)"><path d="M574 449L545 460C526 432 516 430 487 430C404 430 311 435 226 435C104 435 56 379 25 341L43 318C81 354 121 372 181 372C161 246 87 53 23 3L30 -12C48 -12 88 -4 113 11C157 75 207 248 232 371L386 367L326 109C321 86 318 66 318 50C318 4 339 -12 366 -12C410 -12 461 21 505 69L492 96C467 79 434 60 418 60C406 60 400 78 411 147C422 217 439 300 457 366C487 366 524 367 536 370C547 385 558 408 574 449Z"></path></g><g transform="matrix(.0091,0,0,-0.0091,7.358,3.132)"><path d="M462 177V227H365V632H320C217 496 116 350 21 208V177H284V109C284 43 280 38 190 31V0H451V31C369 38 365 43 365 108V177H462ZM284 227H88C155 336 218 430 282 519H284V227Z"></path></g></svg></span></td><td class="align_center">212.21</td><td class="align_center">28</td><td class="align_center">167.82</td><td class="align_center">97.90</td><td class="align_center">54366</td></tr><tr class="table-tr"><td colspan="6"><hr class="tbody-hr"/></td></tr></table></td></tr></table>

<div>Numerical result on Example <a href="https://static-preview.hindawi.com/articles/mpe/volume-2022/9935814/figures/#ex3" target="_blank">3</a>.</div>

Mathematical Problems in Engineering

tab4

Table 4

Table 4: Optimal Replenishment Strategy for Inventory Mechanism with a Known Price Increase and Backordering in Finite Horizon 