Economic order quantity model for deteriorating items with planned backorder level

Widyadana, I Gede Agus; Cárdenas–Barrón, Leopoldo Eduardo; Wee, Hui–Ming

doi:10.1016/j.mcm.2011.04.028

Cited by 95 publications

(39 citation statements)

References 34 publications

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“…Widyadana et al (2011) solved two EOQ models for deteriorating items inventory problems without using derivatives and found these as almost similar to the original model. Taleizadeh et al (2013) solved a fuzzy rough EOQ model for deteriorating items considering quantity discount and prepayment by using meta-heuristic algorithms.…”

Section: Introductionmentioning

confidence: 90%

An optimal policy for deteriorating items with time-proportional deterioration rate and constant and time-dependent linear demand rate

2017

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In this paper, an economic order quantity (EOQ) inventory model for a deteriorating item is developed with the following characteristics:(i) The demand rate is deterministic and two-staged, i.e., it is constant in first part of the cycle and linear function of time in the second part. (ii) Deterioration rate is time-proportional. (iii) Shortages are not allowed to occur.The optimal cycle time and the optimal order quantity have been derived by minimizing the total average cost. A simple solution procedure is provided to illustrate the proposed model. The article concludes with a numerical example and sensitivity analysis of various parameters as illustrations of the theoretical results.

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Section: Introductionmentioning

confidence: 90%

An optimal policy for deteriorating items with time-proportional deterioration rate and constant and time-dependent linear demand rate

2017

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“…Hsu et al (2007) developed an inventory model for deteriorating items with expiration date and uncertain lead time. Widyadana et al (2011) presented an economic order quantity model for deteriorating items and planned backorder level. Shukla et al (2013) explored a deteriorating model by considering shortages and exponential demand.…”

Section: Introductionmentioning

confidence: 99%

An EOQ model with variable holding cost and partial backlogging under credit limit policy and cash discount

Rastogi¹,

Singh²,

Kushwah³

et al. 2017

10.5267/j.uscm

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In this paper we develop an inventory model for deteriorating items with price sensitive demand. Generally the vendor offers a cash discount or fix time period to the retailer to pay all the dues. According to the availability of money the retailer chooses his/her option. In this paper we discuss the possible cases of permissible delay and cash discount. The shortages are allowed in this model and are partially backlogged. Holding cost is considered as varying function of time, which reflects a more realistic concept. The purpose of this study is to optimize the overall cost of the system and to compute optimal ordering quantity. Numerical examples for different cases are also presented to illustrate the study. A sensitivity analysis with regard to distinct associated parameters is shown to make sure the constancy of the model.

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“…Teng et al [10] revised a typo in the integrated vendor-buyer system of Wee and Chung [11] and then derived the corrected optimal solution by algebraic methods. Widyadana et al [12] applied a simplified model to approximate an inventory system with deteriorated items. Zhang et al [13] studied a multi-item inventory model by joint replenishment approach and then developed a mixed integer nonlinear programming algorithm and used heuristic methods to find the optimal solution.…”

Section: Introductionmentioning

confidence: 99%

Note on “An Easy Method to Derive EOQ and EPQ Inventory Models with Backorders”

Lin¹,

Tuan²,

Julian³

2017

AAN

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Cárdenas-Barrón (2010) applied algebraic methods to EOQ and EPQ models without referring to differential equations, allowing researchers without backgrounds in calculus to understand inventory models with ease. In this note, we point out that the derivation for EPQ model can be obtained by a transformation of the EOQ model and then we provide a further simplification of his approach such that future practitioners can realize his important findings and apply algebraic methods in their own research.Keywords: Algebraic method, Cauchy-Bunyakovsky-Schwarz (CBS) inequality, arithmeticgeometric mean (AGM) inequality. IntroductionGrubbstrom

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Economic order quantity model for deteriorating items with planned backorder level

Cited by 95 publications

References 34 publications

An optimal policy for deteriorating items with time-proportional deterioration rate and constant and time-dependent linear demand rate

An optimal policy for deteriorating items with time-proportional deterioration rate and constant and time-dependent linear demand rate

An EOQ model with variable holding cost and partial backlogging under credit limit policy and cash discount

Note on “An Easy Method to Derive EOQ and EPQ Inventory Models with Backorders”

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