An examination of inventory and production costs in the models with stock out risk under JIT system

Ruchira Chakrabarty, Tapan Roy and Kripasindhu S. Chaudhuri

International Journal of Business Forecasting and Marketing Intelligence, 2017, vol. 3, issue 3, 259-269

Abstract: This paper develops a new EMQ-JIT and EOQ-JIT cost indifference point equations considering stock out risk and other several factors transportation and space cost savings. Again, the price discount system has been taken into account under EOQ purchasing. So, the main purpose of this paper is to establish a cost comparison of the classic EMQ and EOQ model and revised EMQ/JIT and EOQ/JIT model.

Keywords: EMQ-JIT cost indifference point; EOQ-JIT cost indifference point; revised EMQ-JIT production model; revised EOQ-JIT production model; stock out risk; price discount. (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ids:ijbfmi:v:3:y:2017:i:3:p:259-269

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