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An EOQ Model for Deteriorating Items with Time Varying Demand and Costs
B. C. Giri, A. Goswami and K. S. Chaudhuri
The Journal of the Operational Research Society
Vol. 47, No. 11 (Nov., 1996), pp. 1398-1405
Stable URL: http://www.jstor.org/stable/3010205
Page Count: 8
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A generalized EOQ model for deteriorating items is considered here in which the demand rate, deterioration rate, holding cost and ordering cost are all assumed to be continuous functions of time. Shortages are also allowed and are completely backlogged. The planning horizon is finite and the replenishment periods are assumed to be constant. The optimal replenishment policy and the decision rule which minimizes the total system cost are derived. A numerical example is given to illustrate the developed model. Sensitivity analysis is also presented for the given model.
The Journal of the Operational Research Society © 1996 Operational Research Society