Title: Shortage linked EOQ model for Weibull-time unstable demand in the company of permitted delay in payments

Authors: R.P. Tripathi; Hari Shyam Pandey; Pravin Kumar Srivastava

Addresses: Department of Applied Sciences and Humanities, KNIT, Sultanpur, UP, India ' Dr. A.P.J. Abdul Kalam Technical University, Lucknow, Uttar Pradesh 226031, India ' Department of Applied Sciences and Humanities, BIET, Jhansi, UP, India

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.

Keywords: economic order quantity; EOQ; shortage Weibull time-dependent demand; trade credit period; inventory.

DOI: 10.1504/IJSCIM.2020.107263

International Journal of Supply Chain and Inventory Management, 2020 Vol.3 No.2, pp.124 - 141

Received: 19 Dec 2018
Accepted: 21 Jun 2019

Published online: 11 May 2020 *

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