A quadratic demand EOQ model for deteriorating items with time dependent shortage

DOI10.1504/IJMOR.2021.117636MaRDI QIDQ2073496zbMATH OpenOpenAlexFDO

Authors S. Sindhuja, P. Arathi, Varun Mohan

Publication date 2 February 2022

Published in International Journal of Mathematics in Operational Research (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1504/ijmor.2021.117636

zbMATH Keywords

deteriorationeconomic order quantity modelinventoryquadratic demand rateshortage

Mathematics Subject Classification ID

Inventory, storage, reservoirs (90B05)

Review text

Summary: In an inventory model, optimising the time and cost is a challenging task. This article focuses on an economic order quantity model (EOQ model) with a quadratic demand and constant deterioration of items. The aim of the paper is to provide a methodology to minimise the total cost in an EOQ model. This is achieved by increasing the deteriorating items, under the normal market conditions and considering the demand as a quadratic demand. Shortage in cost is similarly considered. A numerical example is discussed and compared with an existing model to illustrate the behaviour of the quadratic demand rate. There is a considerable reduction in total cost in the proposed model when compared with the existing model. Sensitivity analysis concerning the changes in parameters is carried out through the graphical representations. Complex algebraic equations are solved using MATLAB R2013a.

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Cited in

(6)

• Supply chain model with stock dependent demand, quadratic rate of deterioration with allowable shortage
• Innovation of economic order quantity (EOQ) model for deteriorating items with time-linked quadratic demand under non-decreasing shortages
• An EOQ Model for Deteriorating Items with Shortages and a Linear Trend in Demand
• scientific article; zbMATH DE number 6264591 (Why is no real title available?)
• An EOQ model for a deteriorating item with time dependent quadratic demand under permissible delay in payment
• Strategic pricing and inventory solutions for gradually deteriorating products with environmental considerations

Describes a project that uses

Uses Software

• Matlab

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