An EOQ Model for Temperature-Sensitive Deteriorating Items in Cold Chain Operations
To improve the inventory management of cold chain logistics, we propose an economic order quantity (EOQ) inventory model for temperature-sensitive deteriorating products. Considering that the products are temperature-sensitive, the deterioration rate of the proposed model is a function of the temper...
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| Format: | Article |
| Language: | English |
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MDPI AG
2024-03-01
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| Series: | Mathematics |
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| Online Access: | https://www.mdpi.com/2227-7390/12/5/775 |
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| author | Ming-Fang Yang Pei-Fang Tsai Meng-Ru Tu Yu-Fang Yuan |
| author_facet | Ming-Fang Yang Pei-Fang Tsai Meng-Ru Tu Yu-Fang Yuan |
| author_sort | Ming-Fang Yang |
| collection | DOAJ |
| description | To improve the inventory management of cold chain logistics, we propose an economic order quantity (EOQ) inventory model for temperature-sensitive deteriorating products. Considering that the products are temperature-sensitive, the deterioration rate of the proposed model is a function of the temperature. In addition, the transportation cost, which is a function of the quantity ordered, is considered in this study. This article aims to find the optimal value of the total profit, selling price, and the length of the ordering cycle. Numerical examples are provided; the sensitivity analysis shows that the total profit is much more sensitive to transportation costs, compared with ordering and holding costs. |
| first_indexed | 2024-04-25T00:24:12Z |
| format | Article |
| id | doaj.art-4069d7c5b6974304a5f187dea7c438d8 |
| institution | Directory Open Access Journal |
| issn | 2227-7390 |
| language | English |
| last_indexed | 2024-04-25T00:24:12Z |
| publishDate | 2024-03-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Mathematics |
| spelling | doaj.art-4069d7c5b6974304a5f187dea7c438d82024-03-12T16:50:19ZengMDPI AGMathematics2227-73902024-03-0112577510.3390/math12050775An EOQ Model for Temperature-Sensitive Deteriorating Items in Cold Chain OperationsMing-Fang Yang0Pei-Fang Tsai1Meng-Ru Tu2Yu-Fang Yuan3Intelligent Maritime Research Center, National Taiwan Ocean University, Keelung City 20224, TaiwanDepartment of Industrial Engineering and Management, National Taipei University of Technology, Taipei 10608, TaiwanIntelligent Maritime Research Center, National Taiwan Ocean University, Keelung City 20224, TaiwanDepartment of Transportation Science, National Taiwan Ocean University, Keelung City 20224, TaiwanTo improve the inventory management of cold chain logistics, we propose an economic order quantity (EOQ) inventory model for temperature-sensitive deteriorating products. Considering that the products are temperature-sensitive, the deterioration rate of the proposed model is a function of the temperature. In addition, the transportation cost, which is a function of the quantity ordered, is considered in this study. This article aims to find the optimal value of the total profit, selling price, and the length of the ordering cycle. Numerical examples are provided; the sensitivity analysis shows that the total profit is much more sensitive to transportation costs, compared with ordering and holding costs.https://www.mdpi.com/2227-7390/12/5/775deteriorating inventory modeldeteriorationEOQtemperature sensitiveoptimaltransportation cost |
| spellingShingle | Ming-Fang Yang Pei-Fang Tsai Meng-Ru Tu Yu-Fang Yuan An EOQ Model for Temperature-Sensitive Deteriorating Items in Cold Chain Operations Mathematics deteriorating inventory model deterioration EOQ temperature sensitive optimal transportation cost |
| title | An EOQ Model for Temperature-Sensitive Deteriorating Items in Cold Chain Operations |
| title_full | An EOQ Model for Temperature-Sensitive Deteriorating Items in Cold Chain Operations |
| title_fullStr | An EOQ Model for Temperature-Sensitive Deteriorating Items in Cold Chain Operations |
| title_full_unstemmed | An EOQ Model for Temperature-Sensitive Deteriorating Items in Cold Chain Operations |
| title_short | An EOQ Model for Temperature-Sensitive Deteriorating Items in Cold Chain Operations |
| title_sort | eoq model for temperature sensitive deteriorating items in cold chain operations |
| topic | deteriorating inventory model deterioration EOQ temperature sensitive optimal transportation cost |
| url | https://www.mdpi.com/2227-7390/12/5/775 |
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