@article{(Open Science Index):https://publications.waset.org/pdf/8021,
	  title     = {A Multi-period Profit Maximization Policy for a Stochastic Demand Inventory System with Upward Substitution},
	  author    = {Soma Roychowdhury},
	  country	= {},
	  institution	= {},
	  abstract     = {This paper deals with a periodic-review substitutable
inventory system for a finite and an infinite number of periods. Here
an upward substitution structure, a substitution of a more costly item
by a less costly one, is assumed, with two products. At the beginning
of each period, a stochastic demand comes for the first item only,
which is quality-wise better and hence costlier. Whenever an arriving
demand finds zero inventory of this product, a fraction of unsatisfied
customers goes for its substitutable second item. An optimal ordering
policy has been derived for each period. The results are illustrated
with numerical examples. A sensitivity analysis has been done to
examine how sensitive the optimal solution and the maximum profit
are to the values of the discount factor, when there is a large number
of periods.},
	    journal   = {International Journal of Mathematical and Computational Sciences},
	  volume    = {3},
	  number    = {9},
	  year      = {2009},
	  pages     = {762 - 770},
	  ee        = {https://publications.waset.org/pdf/8021},
	  url   	= {https://publications.waset.org/vol/33},
	  bibsource = {https://publications.waset.org/},
	  issn  	= {eISSN: 1307-6892},
	  publisher = {World Academy of Science, Engineering and Technology},
	  index 	= {Open Science Index 33, 2009},
	}