Two Heuristics for the Basic EOQ and EPQ with Partial Backordering

David W. Pentico, Carl Toews and Matthew J. Drake
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David W. Pentico: Palumbo-Donahue School of Business, Duquesne University, Pittsburgh, PA, USA
Carl Toews: Department of Mathematics and Computer Science, University of Puget Sound, Tacoma, WA, USA
Matthew J. Drake: Palumbo-Donahue School of Business, Duquesne University, Pittsburgh, PA, USA

International Journal of Information Systems and Supply Chain Management (IJISSCM), 2014, vol. 7, issue 4, 31-49

Abstract: This paper describes two heuristics for the basic economic order quantity and economic production quantity with partial backordering that use the time between orders and the percentage of demand filled from stock as the decision variables. Tests of the heuristics on a set of problems generated by using different values for six situational characteristics indicate that both heuristics should perform well as long as the critical value of the backordering rate is positive and very well if it is at least 0.50.

Date: 2014
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