Title: Economic order quantity for a power demand pattern system with deteriorating items

Authors: Joaquín Sicilia; Jaime Febles-Acosta; Manuel González-De la Rosa

Addresses: Departamento de Estadística, Investigación Operativa y Computación, Universidad de La Laguna, 38271 La Laguna, Tenerife, Islas Canarias, Spain ' Departamento de Economía y Dirección de Empresas, Instituto Universitario de la Empresa (IUDE), Universidad de La Laguna, 38271 La Laguna, Tenerife, Islas Canarias, Spain ' Departamento de Economía y Dirección de Empresas, Universidad de La Laguna, 38271 La Laguna, Tenerife, Islas Canarias, Spain

Abstract: In this paper we develop a mathematical model to study optimal replenishment policy for an economic order quantity system considering items with deterioration. Demand is time dependent and follows a power pattern. The system operates over an infinite planning horizon. Replenishment is instantaneous and lot size is constant. The aim of the paper is to minimise the inventory average total cost per unit time. We propose a procedure for determining the efficient policy and the minimum inventory cost. Numerical examples are provided to illustrate the proposed model. [Received 11 June 2011; Revised 6 January 2012; Accepted 4 February 2012]

Keywords: inventory systems; economic lot sizing; power demand patterns; deteriorating items; economic order quantity; EOQ; mathematical modelling; optimal replenishment policy; inventory cost.

DOI: 10.1504/EJIE.2013.057381

European Journal of Industrial Engineering, 2013 Vol.7 No.5, pp.577 - 593

Received: 08 May 2021
Accepted: 12 May 2021

Published online: 28 Oct 2013 *

Full-text access for editors Access for subscribers Purchase this article Comment on this article