An inventory model with variable demand, component cost and selling price for deteriorating items

Biswajit Sarkar, Sharmila Saren, Hui Ming Wee

Research output: Contribution to journalArticle

64 Citations (Scopus)

Abstract

In this paper, we develop an economic order quantity (EOQ) model for finite production rate and deteriorating items with time dependent increasing demand. The component cost and the selling price are considered at a continuous rate of time. The objective of this model is to maximize the total profit over the finite planning horizon. We also want to find the integral number of orders in the finite planning horizon. A numerical example, graphical representations and sensitivity analysis are given to illustrate the model.

Original languageEnglish
Pages (from-to)306-310
Number of pages5
JournalEconomic Modelling
Volume30
Issue number1
DOIs
Publication statusPublished - 2013 Jan 1

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Costs
Deteriorating items
Inventory model
Planning
Economic order quantity
Sensitivity analysis
Integral
Profit

All Science Journal Classification (ASJC) codes

  • Economics and Econometrics

Cite this

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An inventory model with variable demand, component cost and selling price for deteriorating items. / Sarkar, Biswajit; Saren, Sharmila; Wee, Hui Ming.

In: Economic Modelling, Vol. 30, No. 1, 01.01.2013, p. 306-310.

Research output: Contribution to journalArticle

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