An inventory model for deteriorating items with exponential declining demand and partial backlogging | Zendy

LiangYuh Ouyang | Zendy; KunShan Wu | Zendy; Mei-Chuan Cheng | Zendy

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An inventory model for deteriorating items with exponential declining demand and partial backlogging

Author(s) -

LiangYuh Ouyang,

KunShan Wu,

Mei-Chuan Cheng

Publication year - 2005

Publication title -

yugoslav journal of operations research

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 0.221

H-Index - 21

eISSN - 1820-743X

pISSN - 0354-0243

DOI - 10.2298/yjor0502277o

Subject(s) - economic order quantity , economic shortage , sensitivity (control systems) , mathematical optimization , exponential function , variable (mathematics) , function (biology) , computer science , exponential growth , regular polygon , economics , mathematical economics , operations research , mathematics , supply chain , mathematical analysis , linguistics , philosophy , electronic engineering , evolutionary biology , government (linguistics) , political science , law , biology , engineering , geometry

This study proposes an EOQ inventory mathematical model for deteriorating items with exponentially decreasing demand. In the model, the shortages are allowed and partially backordered. The backlogging rate is variable and dependent on the waiting time for the next replenishment. Further, we show that the minimized objective cost function is jointly convex and derive the optimal solution. A numerical example is presented to illustrate the model and the sensitivity analysis is also studied

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