An EOQ model with stock dependent demand and imperfect quality items | Zendy

Shibaji Panda | Zendy

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An EOQ model with stock dependent demand and imperfect quality items

Author(s) -

Shibaji Panda

Publication year - 2010

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/yjor1002237p

Subject(s) - imperfect , economic order quantity , stock (firearms) , profit (economics) , perfect information , quality (philosophy) , econometrics , computer science , economics , operations research , statistics , mathematics , microeconomics , business , marketing , mechanical engineering , supply chain , philosophy , linguistics , epistemology , engineering

This paper deals with an economic order quantity model where demand is stock dependent. Items received are not of perfect quality and each lot received contains percentage defective imperfect quality items, which follow a probability distribution. Two cases are considered. 1) Imperfect quality items are held in stock and sold in a single batch after a 100 percent screening process. 2) A hundred percent screening process is performed but the imperfect quality items are sold as soon as they are detected. Approximate optimal solutions are derived in both cases. A numerical example is provided in order to illustrate the development of the model. Sensitivity analysis is also presented, indicating the effects of percentage imperfect quality items on the optimal order quantity and total profit

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