Mathematical Model of Inventory Policy under Limited Storage Space for Continuous and Periodic Review Policies with Backlog and Lost Sales

Table 4

Optimal solutions and their cost components.

Solution performance
	2,840	3,020	2,849	3,029
	1,066	1,066	1,053	1,053
ES (units)	7.0931	7.0952	6.9565	6.9586
EO (units)	183.8970	183.8274	185.4028	185.3339
PS	0.0153	0.0153	0.0150	0.0151
PO	0.5077	0.6080	0.5102	0.6064
Fixed ordering cost (THB/cycle)	12.55	12.55	12.55	12.55
Shortage cost (THB/cycle)	28.3724	28.3808	27.8261	27.8343
Inventory holding cost (THB/cycle)	91.3130	91.3086	90.5150	90.5107
Over-ordering cost (THB/cycle)	4.8811	4.8774	4.9614	4.9577
Total cost (THB/cycle)	137.1165	137.1168	135.8525	135.8527
Cycle length (days)	2.9785	2.9786	2.9421	2.9421
Total cost per day (THB)	46.0347	46.0347	46.1756	46.1756
Annual cost (THB)	5,641.23	5,641.22	5,728.62	5,728.61