Shortage linked EOQ model for Weibull-time unstable demand in the company of permitted delay in payments
by R.P. Tripathi; Hari Shyam Pandey; Pravin Kumar Srivastava
International Journal of Supply Chain and Inventory Management (IJSCIM), Vol. 3, No. 2, 2020

Abstract: In this study, we consider economic order quantity (EOQ) model over a restricted horizon, where demand rate follows a two-parameter Weibull time-linked. Shortages are tolerable and absolutely backlogged. Mathematical formulations are derived under two unlike state of affairs, i.e., Case 1: permissible delay is fewer than or identical time to close positive inventory for settling the account and Case 2: allowable delay period is larger than time to finish positive inventory. Based on the most favourable solutions, several significant outcomes are derived and arithmetic examples are given to authenticate the projected model. Sensitivity investigation is discussed to investigate effects of dissimilarity with variation in one constraint at a time on best possible clarification.

Online publication date: Mon, 11-May-2020

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