An algorithm to determine the EOQ for deteriorating items with shortage and a linear trend in demand

Chung, Kun‐Jen; Tsai, Sui-Fu

doi:10.1016/s0925-5273(97)00082-0

Cited by 13 publications

(2 citation statements)

References 9 publications

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“…Balan [8] described an inventory model in which the demand is considered as a composite function consisting of a constant component and a variable component which is proportional to the inventory level in the periods when there is a positive inventory buildup and the rate of production is considered finite and the decay rate as exponential. Tsai [9] extended the model of Professor Goswami and Chaudhuri, and an algorithm to determine the number of reorders, the interval between two successive reorders and the shortage intervals over a finite time horizon in an optimal manner, is developed. Yang [10] assumed that the demand function is positive and fluctuating with time (which is more general than increasing, decreasing, and log-concave demand patterns), and models are developed with deteriorating items and shortages.…”

Section: Introductionmentioning

confidence: 99%

Production inventory model for two-level production with deteriorative items and shortages

Sivashankari¹,

Panayappan²

2014

Int J Adv Manuf Technol

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Production inventory model plays a dominant role in production scheduling and planning. The EPQ model is commonly used by practitioners in the fields of production and inventory management to assist them in making decision on optimum production and total cost. The total cost of production is dependent on production rate, demand rate, and rate of deteriorative items. In this paper, a production inventory model with deteriorative items in which two different rates of productions are considered, and it is possible that production started at one rate, and after some time, it may be switched over another rate such a situation is desirable in the sense that by starting at a low rate of production, a large quantum stock of manufacturing items at the initial stage is avoided, leading to reduction in the holding cost. The variation in production rate provides a way resulting consumer satisfaction and earning potential profit. Two models are considered; the production inventory model without shortages is studied first and with shortages is investigated next. A suitable mathematical model is developed, and the optimal production lot size which minimizes the total cost is derived. The global optimal solution is derived, and an illustrative example is provided and numerically verified. The validation of result in this model was coded in Microsoft Visual Basic 6.0.

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Section: Introductionmentioning

confidence: 99%

Production inventory model for two-level production with deteriorative items and shortages

Sivashankari¹,

Panayappan²

2014

Int J Adv Manuf Technol

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“…Hence, many researchers still preferred to use the bisection method. Chung and Tsai [7] studied Goswami and Chaudhuri [12] to reveal that Newton method may diverge with an improper starting point so that an approximated solution of the first derivative could not satisfy constraints. Hence, the analytical structure of the objective function should be examined case by case in order to validate the legitimacy of the Newton method.…”

Section: Introductionmentioning

confidence: 99%

Newton method for determining the optimal replenishment policy for EPQ model with present value

Kuo-JungWU

Lei

Jung

et al. 2008

YUGOSLAV J OPERATION

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This paper is a response for the paper of Dohi, Kaio and Osaki, that was published in RAIRO: Operations Research, 26, 1-14 (1992) for an EPQ model with present value. The purpose of this paper is threefold. First, the convex and increasing properties for the first derivative of the objective function are proved. Second, we apply the Newton method to find the optimal cycle time. Third, we provide some numerical examples to demonstrate that the Newton method is more efficient than the bisection method.

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An Optimal Inventory Replenishment Policy for a Perishable Item with Time Quadratic Demand and Partial Backlogging with Shortages in All Cycles

Chowdhury

Ghosh²,

Chaudhuri

2016

Int. J. Appl. Comput. Math

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An algorithm to determine the EOQ for deteriorating items with shortage and a linear trend in demand

Cited by 13 publications

References 9 publications

Production inventory model for two-level production with deteriorative items and shortages

Production inventory model for two-level production with deteriorative items and shortages

Newton method for determining the optimal replenishment policy for EPQ model with present value

An Optimal Inventory Replenishment Policy for a Perishable Item with Time Quadratic Demand and Partial Backlogging with Shortages in All Cycles

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