A DISCRETE TIME EOQ MODEL FOR DELAYED DETERIORATING ITEMS WITH SHORTAGES
Keywords:
Discrete, Deterioration, Lost sale, Backlogged, StockistAbstract
In this work, a discrete time Economic Order Quantity (EOQ) inventory model was developed for delayed deterioration items with shortages. The model consist of three stages in its cycle. In the first stage, the inventory depletes to a certain level due to market
demand only while the second stage depletion occurs due to combined effect of market demand and deterioration. In the final stage, shortage time is assumed by the stockist and are fully backlogged. In the first two stages, the demand rates are different but are
all constants. The model is used to determine the optimal ordering quantity and replenishment cycle. Numerical example is given to illustrate the application of the model and sensitivity analysis carried out to see the effect of parameter changes.
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