Economic order quantity models for perishable items under stock dependent selling rate

Economic order quantity models for perishable items under stock dependent selling rate

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Article ID: iaor19981564
Country: Netherlands
Volume: 86
Issue: 2
Start Page Number: 281
End Page Number: 292
Publication Date: Oct 1995
Journal: European Journal of Operational Research
Authors: ,
Keywords: economic order, deteriorating items
Abstract:

This paper presents inventory models for perishable items with stock dependent selling rate. The selling rate is assumed to be a function of current inventory level and rate of deterioration is taken to be constant. Under instantaneous replenishment with zero lead time, the model incorporates aspects such as complete, partial, and no backlogging. EOQ is determined for maximizing the total profit in each of the situations. The models developed are illustrated through numerical examples and sensitivity analysis is reported.

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