A quadratic demand EOQ model for deteriorating items with time dependent shortage

S. Sindhuja, P. Arathi and Varun Mohan

International Journal of Mathematics in Operational Research, 2021, vol. 20, issue 1, 41-59

Abstract: In an inventory model, optimising the time and cost is a challenging task. This article focuses on an economic order quantity model (EOQ model) with a quadratic demand and constant deterioration of items. The aim of the paper is to provide a methodology to minimise the total cost in an EOQ model. This is achieved by increasing the deteriorating items, under the normal market conditions and considering the demand as a quadratic demand. Shortage in cost is similarly considered. A numerical example is discussed and compared with an existing model to illustrate the behaviour of the quadratic demand rate. There is a considerable reduction in total cost in the proposed model when compared with the existing model. Sensitivity analysis concerning the changes in parameters is carried out through the graphical representations. Complex algebraic equations are solved using MATLAB R2013a.

Keywords: economic; order; quantity; model?; quadratic; demand; rate?; inventory?; shortage?; deterioration. (search for similar items in EconPapers)
Date: 2021
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.inderscience.com/link.php?id=117636 (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:20:y:2021:i:1:p:41-59

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 ().