Title: An EOQ model for deteriorating items with inventory dependent demand and initial order quantity dependent deterioration
Authors: Trailokyanath Singh; Nrusingh Charan Sahoo; Chandan Kumar Sahoo
Addresses: Department of Mathematics, C.V. Raman College of Engineering, Bhubaneswar-752054, Odisha, India ' Department of Mathematics (Retd.), Sailabala Women's College, Cuttack, PIN-753001, Odisha, India ' Department of Planning and Coordination, Secretariat, Government of Odisha, Bhubaneswar, PIN-751001, Odisha, India
Abstract: This paper deals with an economic order quantity (EOQ) model for a deteriorating item with initial order quantity demand and inventory dependent deterioration under delay in payment scheme. Profit is obtained at different intervals of delay period and maximised. Numerical examples for different delay periods are given and percentage of profit is obtained. Sensitivity analysis of the example having maximum profit is carried out.
Keywords: payment delays; deterioration; economic order quantity; EOQ; inventory management; deteriorating items; inventory dependent demand; initial order quantity.
DOI: 10.1504/IJMCP.2016.079840
International Journal of Management Concepts and Philosophy, 2016 Vol.9 No.4, pp.306 - 329
Received: 19 Apr 2016
Accepted: 22 Jun 2016
Published online: 17 Oct 2016 *