An EOQ model for deteriorating items with partial backlogging and financial considerations Online publication date: Mon, 18-Mar-2019
by M. Ghandehari; M. Dezhtaherian
International Journal of Services and Operations Management (IJSOM), Vol. 32, No. 3, 2019
Abstract: One of the important issues in the framework of supply chain is to determine the inventory control policy. In this regard, perishable goods are highly important due to their specific characteristics. In the present study, an inventory model for deteriorating items will be proposed considering constant demand, time value of money, and inflation. Deterioration begins immediately after the entrance of inventory into the warehouse. Delayed payment is allowable and degree of deterioration is fixed. Partially backlogged shortage is also considered and the purpose is to minimise total cost of the inventory system in a finite planning horizon. An exact algorithm was developed in this study for solving the problem and finally some numerical examples were presented. Sensitivity analysis was carried out on some of the important and basic parameters and the results were compared with the state where there is no partial backlogging.
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