The derivation of EOQ/EPQ inventory models with two backorders costs using analytic geometry and algebra
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TLDR
This paper proposes another easy method which uses basic concepts of analytic geometric and algebra to find the optimal lot size and backorders level considering both linear and fixed backorders costs.About:
This article is published in Applied Mathematical Modelling.The article was published on 2011-05-01 and is currently open access. It has received 111 citations till now. The article focuses on the topics: Economic production quantity & Inventory theory.read more
Citations
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A production-inventory model with probabilistic deterioration in two-echelon supply chain management
TL;DR: In this article, a production-inventory model is developed for a deteriorating item in a two-echelon supply chain management (SCM), and an algebraical approach is applied to find the minimum cost related to this entire SCM.
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A century of evolution from Harris׳s basic lot size model: Survey and research agenda
TL;DR: In this article, the authors explore and discuss the evolution of these models during one hundred years of history, starting from the basic model developed by Harris in 1913, up to today.
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An improved inventory model with partial backlogging, time varying deterioration and stock-dependent demand
Biswajit Sarkar,Sumon Sarkar +1 more
TL;DR: In this paper, an inventory model for deteriorating items with stock-dependent demand is proposed, and the aim of this model is to determine the optimal cycle length of each product such that the expected total cost (holding, shortage, ordering, deterioration and opportunity cost) is minimized.
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Retailer’s economic order quantity when the supplier offers conditionally permissible delay in payments link to order quantity
TL;DR: In this paper, a simple arithmetic-geometric method was proposed to solve the problem of conditionally permissible delay in payments in an economic order quantity model, in which the supplier offers the retailer a fully permissible delay of M periods (i.e., there is no interest charge until M ) if the retailer orders more than or equal to a predetermined quantity W. However, if the retailers order quantity is less than W, then the retailer must make a partial payment to the supplier, and enjoy a permissible delay for the remaining balance.
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An inventory control problem for deteriorating items with back-ordering and financial considerations
TL;DR: An economic order quantity model to manage a perishable item over the finite horizon planning under which back-ordering and delayed payment are assumed and the sensitivity analysis is reported to find some managerial insights.
References
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Book
Inventory management and production planning and scheduling
TL;DR: In this paper, the authors present a framework for inventory management and production planning and scheduling with a focus on the most important (Class A) and routine (Class C) items.
Book
Foundations of Inventory Management
TL;DR: In this article, one item with a constant demand rate and time-varying demands is described. But, the model is based on a single item with constant lead times.
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How Many Parts to Make at Once
TL;DR: Experience has shown one manager a way to determine the economical size of lots, and interest on capital tied up in wages, material and overhead sets a maximum limit to the quantity of parts which can be profitably manufactured at one time.
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Economic Order Quantity under Conditions of Permissible Delay in Payments
TL;DR: In this article, a mathematical model for obtaining the economic order quantity for an item for which the supplier permits a fixed delay in settling the amount owed to him is presented, and an example has been solved to illustrate the method.