Researchers in the past have established their inventory lot-size models under trade credit financing by assuming that the demand rate is constant. However, from a product life cycle perspective, it is only in the maturity stage that demand is near constant. During the growth stage of a product life cycle (especially for high-tech products), the demand function increases with time. To obtain ro...

In this note, we consider a variation of the economic order quantity (EOQ) model where cumulative holding cost is a nonlinear function of time. This problem has been studied by Weiss (1982), and we here show how it is an approximation of the optimal order quantity for perishable goods, such as milk, and produce, sold in small to medium size grocery stores where there are delivery surcharges due...

In this paper a deterministic inventory model is developed deterioration rate is time proportional. Demand rate is a function of selling price. Deterioration rate, inventory holding cost and ordering cost are all of function of time. The planning horizon is infinite. The optimum replacement policy and decision rule, which minimizes the total cost, is developed. In this study an order level inve...

This paper considers a deteriorated multi-item economic order quantity (EOQ) problem, which has been studied in literature, but the algorithms used in the literature are limited. In this paper, we explore the optimal policy of this inventory problem by analyzing the structural properties of the model, and introduce a simple algorithm for solving the optimal solution to this problem. Numerical r...

In this paper, fuzzy economic order quantity (EOQ) model for inventory system with partial backorder is proposed. The fuzzy total relevance cost of the model is calculated under function principle. The optimal EOQ is derived using median rule. Fuzzy variables are appropriate when the exact information is unavailable. In the proposed model, the optimal solution for the fuzzy EOQ model is higher ...

The paper proposes an alternative method for the multi-item EOQ calculation in presence of space restrictions. The method, based on the Lagrange multipliers, consists of an iterative procedure which analyses dynamically, through the simulation, the effect of consumption rates and delivery times, determining the real stock overlapping in a fixed time period. This makes possible a more effective ...

We study an EOQ inventory model with demand rate and holding cost rate per unit time, both potentially dependent on the stock level. The ordering cost, the holding cost and the gross profit from the sale of the item are considered. The objective is to maximize the average profit per unit time. We present the analytical formulation of the problem and demonstrate the existence and uniqueness of t...

Abstract: In this paper a study has been carried out using crisp and fuzzy inventory model for the deteriorating items under trapezoidal fuzzy numbers when the supplier offered price discount to the retailer at the time of replenishment. In this model the deterioration rate is constant. Many researchers suggested, demand rate in the inventory models are constant, exponential (increase/decrease)...

In this paper, a Back Propagation-Artificial Neural Network (BPANN) has been adapted for predicting the required car parts quantities in a real and major auto parts supplier chain. The conventional approach to determine the parts requirements is the Economic Order Quantity (EOQ) method. The ability of neural models to learn, particularly their capability of handling large amounts of data simult...

The correlated demand caused by cross-selling, Zhang et al (2011) proposed a two-item EOQ model, where the unmet demand for the major item can be partially backordered with lost sales that will reduce demand for the minor item. They developed an enumeration algorithm that can deal with only one minor associated item. Zhang et al (2011) proposed the partial backordering EOQ with correlated deman...