Optimum ordering policies with discounting when order costs depend on time

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Abstract
In this paper, we consider the optimum ordering policies without and with inventory. Introducing a continuous discount rate and two order costs depending on ordering time, we obtain the optimum ordering policies minimizing the expected total discounted cost. In theorems, it is shown that, under certain conditions, there exists a finite and unique optimum ordering time. Furthermore, the relations to the earlier contributions are presented.

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