Replenishment policy for EOQ models with time-dependent quadratic demand and shortages

Swapan Kumar Manna*, Kripasindhu S. Chaudhuri, Chi Chiang

*Corresponding author for this work

Research output: Contribution to journalArticle

22 Scopus citations

Abstract

In this paper, we develop two Economic Order Quantity (EOQ) models for quadratic time-varying demand. It is assumed that successive replenishment cycle lengths are in arithmetic progression and γ the rate of reduction of successive cycle lengths. The model with shortages is studied first. The corresponding results for the model without shortages are derived next. Decision variables are determined numerically for given input parameters. Optimum costs for both the models are also calculated. Computational results show that the model with shortages allowed is economically beneficial. Finally, sensitivity analysis is performed to study the effect of changes in input parameters on the optimal cost.

Original languageEnglish
Pages (from-to)321-337
Number of pages17
JournalInternational Journal of Operational Research
Volume2
Issue number3
DOIs
StatePublished - 27 Jul 2007

Keywords

  • Inventory
  • Quadratic demand
  • Replenishment
  • Shortage

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