Indeed, one of the …rst lessons one learns from studying a variety of hypothetical models is that the problem of economic stabilization is, even in principle, an extremely intricate one, and that a much more thorough investigation of both theoretical principles and empirical relationships would be needed before detailed policy recommendations could be justi…ed.”A. W. Phillips (1957, reprinted 1...

This paper describes how the proper priority structure of non-linear goal programming (NLGP) model can be selected for obtaining economic order quantity(EOQ) of multi-item inventory problems. In the solution process, sensitivity analysis of the priority under the given weight structure of goals has been performed. A set of solution is obtained. From the solutions, the ideal solution is identifi...

ABSTRACT In this paper, we study a deterministic inventory model for deteriorating items under time-dependent partial backlogging. Though lot of factors involving inventory affect the demand, among them time and stock are the most important factors. Therefore, we consider here the combined stock and time varying demand to make the theory more applicable in practice. We study the effects time de...

Abstract The model describes an EOQ model with time-varying deterioration, partial backlogging which depends on the length of the waiting time for the next replenishment, linearly time-varying demand function over a finite time horizon and variable replenishment cycle. The model is solved analytically to obtain the optimal solution of the problem. It is illustrated with the help of a numerical ...

We consider a stochastic fluid EOQ-type model with demand rates that operate in a two-state random environment. This environment alternates between exponentially distributed periods of high demand and generally distributed periods of low demand. The inventory level starts at some level q, and decreases linearly at rate a during the periods of high demand, and at rate b < a at periods of low dem...

An EOQ (Economic Order Quantity) model for a deteriorating item with quadratic demand pattern and quadratic holding cost and constant deterioration rate is considered in this paper. In addition, shortages and partial backlogging are allowed. It is assumed that the backlogging rate acts as not only a variable, but also depends on the length of the waiting time up to next replenishment during the...

February, 2008 We consider supplier diversification in an EOQ type inventory setting with multiple suppliers under binomial yield and zero leadtimes. We characterize the optimal policy for the model and show that, in this case, it does not pay to diversify and it is better to use a sole supplier. This result constitutes a contrast with the previous ones in the literature assuming various yield ...

R etailers must constantly strive for excellence in operations; extremely narrow profit margins leave little room for waste and inefficiency. This article reports a retailer’s challenge to balance transportation, shelf space, and inventory costs. A retailer sells multiple products with stochastic demand. Trucks are dispatched from a warehouse and arrive at a store with a constant lead time. Eac...

This paper seeks the critical factors for a correct choice in the components set up along the supply chain. ABC classification was made for all the suppliers according to the supplied items for the company. After a demand analysis, the seasonal nature and trend during the timeline, we used the last four years registers where is shown a decreasing behavior in 30% of the items; Economic Order Qua...

The classic Economic Order Quantity model assumes that an order is paid for at the time of its receipt. In practice, suppliers may require purchasers to pay a fraction of the order’s cost in advance and sometimes allow them to divide the prepayment into multiple equalsized parts to be paid during a fixed lead time. In this paper, an EOQ model with multiple prepayments under three different cond...