An EOQ model for time-dependent deteriorating items with alternating demand rates allowing shortages by considering time value of money
The present paper deals with an economic order quantity (EOQ) model of an inventory problem with alternating demand rate: (i) For a certain period, the demand rate is a non linear function of the instantaneous inventory level. (ii) For the rest of the cycle, the demand rate is time dependent. Th...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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University of Belgrade
2013-01-01
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| Series: | Yugoslav Journal of Operations Research |
| Subjects: | |
| Online Access: | http://www.doiserbia.nb.rs/img/doi/0354-0243/2013/0354-02431300022K.pdf |
| _version_ | 1818304734198497280 |
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| author | Kundu Antara Chakrabarti Priya Chakrabarti Tripti |
| author_facet | Kundu Antara Chakrabarti Priya Chakrabarti Tripti |
| author_sort | Kundu Antara |
| collection | DOAJ |
| description | The present paper deals with an economic order quantity (EOQ) model of an inventory problem with alternating demand rate: (i) For a certain period, the demand rate is a non linear function of the instantaneous inventory level. (ii) For the rest of the cycle, the demand rate is time dependent. The time at which demand rate changes, may be deterministic or uncertain. The deterioration rate of the item is time dependent. The holding cost and shortage cost are taken as a linear function of time. The total cost function per unit time is obtained. Finally, the model is solved using a gradient based non-linear optimization technique (LINGO) and is illustrated by a numerical example. |
| first_indexed | 2024-12-13T06:15:24Z |
| format | Article |
| id | doaj.art-15deab803c6e462badd764c13776f2da |
| institution | Directory Open Access Journal |
| issn | 0354-0243 1820-743X |
| language | English |
| last_indexed | 2024-12-13T06:15:24Z |
| publishDate | 2013-01-01 |
| publisher | University of Belgrade |
| record_format | Article |
| series | Yugoslav Journal of Operations Research |
| spelling | doaj.art-15deab803c6e462badd764c13776f2da2022-12-21T23:56:58ZengUniversity of BelgradeYugoslav Journal of Operations Research0354-02431820-743X2013-01-0123226327810.2298/YJOR130120022KAn EOQ model for time-dependent deteriorating items with alternating demand rates allowing shortages by considering time value of moneyKundu AntaraChakrabarti PriyaChakrabarti TriptiThe present paper deals with an economic order quantity (EOQ) model of an inventory problem with alternating demand rate: (i) For a certain period, the demand rate is a non linear function of the instantaneous inventory level. (ii) For the rest of the cycle, the demand rate is time dependent. The time at which demand rate changes, may be deterministic or uncertain. The deterioration rate of the item is time dependent. The holding cost and shortage cost are taken as a linear function of time. The total cost function per unit time is obtained. Finally, the model is solved using a gradient based non-linear optimization technique (LINGO) and is illustrated by a numerical example.http://www.doiserbia.nb.rs/img/doi/0354-0243/2013/0354-02431300022K.pdfEOQdeteriorationshortagestwo-component demand |
| spellingShingle | Kundu Antara Chakrabarti Priya Chakrabarti Tripti An EOQ model for time-dependent deteriorating items with alternating demand rates allowing shortages by considering time value of money Yugoslav Journal of Operations Research EOQ deterioration shortages two-component demand |
| title | An EOQ model for time-dependent deteriorating items with alternating demand rates allowing shortages by considering time value of money |
| title_full | An EOQ model for time-dependent deteriorating items with alternating demand rates allowing shortages by considering time value of money |
| title_fullStr | An EOQ model for time-dependent deteriorating items with alternating demand rates allowing shortages by considering time value of money |
| title_full_unstemmed | An EOQ model for time-dependent deteriorating items with alternating demand rates allowing shortages by considering time value of money |
| title_short | An EOQ model for time-dependent deteriorating items with alternating demand rates allowing shortages by considering time value of money |
| title_sort | eoq model for time dependent deteriorating items with alternating demand rates allowing shortages by considering time value of money |
| topic | EOQ deterioration shortages two-component demand |
| url | http://www.doiserbia.nb.rs/img/doi/0354-0243/2013/0354-02431300022K.pdf |
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