An imprecise-inventory model with PEND and SEND policy

Dipak Barman and Barun Das

International Journal of Mathematics in Operational Research, 2018, vol. 13, issue 2, 243-268

Abstract: A continuous review economic order quantity (EOQ) model (with shortage) is modelled here. The inventory cost parameters are imprecise in nature. The model is developed for Partially Enforced Delay (PEND) and Strictly Enforced Delay (SEND) policies with lead time crashing cost. Here demand of the item is a linear function of selling price and usable lead time. For each policy, a set-up cost reduction technique has been applied to the model. Moreover, a statistical t-test has been used to compare the policies. We also present some numerical examples, sensitivity analysis and their discussions to stabilise the model.

Keywords: continuous review policy; imprecise cost; controllable lead time; setup cost reduction; Fisher's t-test. (search for similar items in EconPapers)
Date: 2018
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.inderscience.com/link.php?id=94057 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ids:ijmore:v:13:y:2018:i:2:p:243-268

Access Statistics for this article

More articles in International Journal of Mathematics in Operational Research from Inderscience Enterprises Ltd
Bibliographic data for series maintained by Sarah Parker ().