 EOQ-based inventory management in single-machine multi-item systemsTommaso Rossi, Rossella Pozzi and Mariapaola Testa Omega, 2017, vol. 71, issue C, 106-113 Abstract: The present paper proposes an approach for including the finite capacity constraint in the EOQ model (and, in more general terms, in inventory systems) to study the context of single-machine multi-item systems. In particular, the proposed approach regulates the processing of different items by a shared resource according to a control model based on an ordering policy that combines the Economic Order Quantity with a policy based on minimum and maximum inventory levels (min–max policy). To achieve such a challenging result, the present work exploits the analogy between “switched arrival systems” (a particular class of hybrid systems) and min-max inventory systems. The development and parameterization of the abovementioned control model, therefore, refers to switched arrival systems control theory and mixed-integer linear programming. The present work also contributes to the integration of static tools (i.e., the EOQ model) and control tools, approaching these areas. The paper concludes with a real case application that illustrates the proposed approach and allows for a future research path to be drawn. Keywords: Multi-item, single-machine; Economic order quantity; Switched arrival systems (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:jomega:v:71:y:2017:i:c:p:106-113 Ordering information: This journal article can be ordered from DOI: 10.1016/j.omega.2016.10.002 Access Statistics for this article Omega is currently edited by B. Lev More articles in Omega from Elsevier |
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