Title: An examination of inventory and production costs in the models with stock out risk under JIT system

Authors: Ruchira Chakrabarty; Tapan Roy; Kripasindhu S. Chaudhuri

Addresses: Department of Mathematics, Vidyasagar College for Women, 39 Sankar Ghosh Lane, 700006 Kolkata, India ' Department of Mathematics, Vidyasagar College for Women, 39 Sankar Ghosh Lane, 700006 Kolkata, India ' Department of Mathematics, Jadavpur University, 700032 Kolkata, India

Abstract: This paper develops a new EMQ-JIT and EOQ-JIT cost indifference point equations considering stock out risk and other several factors transportation and space cost savings. Again, the price discount system has been taken into account under EOQ purchasing. So, the main purpose of this paper is to establish a cost comparison of the classic EMQ and EOQ model and revised EMQ/JIT and EOQ/JIT model.

Keywords: EMQ-JIT cost indifference point; EOQ-JIT cost indifference point; revised EMQ-JIT production model; revised EOQ-JIT production model; stock out risk; price discount.

DOI: 10.1504/IJBFMI.2017.085368

International Journal of Business Forecasting and Marketing Intelligence, 2017 Vol.3 No.3, pp.259 - 269

Available online: 03 Jul 2017 *

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