Determining Replenishment Lot Size and Shipment Policy for an EPQ Inventory Model with Delivery and Rework

Leopoldo Eduardo Cárdenas‐Barrón · Gerardo Treviño-Garza · Ata Allah Taleizadeh · Pandian Vasant

32 citations0/0 files storedMathematical Problems in Engineering

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Supply Chain and Inventory Management Management and Optimization Techniques Sustainable Supply Chain Management

Abstract

The determination of production-shipment policies for a vendor-buyer system is dealt within this paper. The main objective is to derive the optimal replenishment lot size and shipment policy for an EPQ inventory model with multiple deliveries and rework. This inventory model contains two decision variables: the replenishment lot size and the number of deliveries. Previous researches solve this inventory model considering both variables to be continuous. However, the number of deliveries must be considered as a discrete variable. In this direction, this paper solves the inventory model considering two cases: Case 1: the replenishment lot size as a continuous variable and the number of shipments as a discrete variable and Case 2: the replenishment lot size and the number of shipments as discrete variables. The final results are two simple and easy-to-apply solution procedures to find the optimal values for the replenishment lot size and the number of deliveries for each case.

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References

1990How Many Parts to Make at Once 2014Celebrating a century of the economic order quantity model in honor of Ford Whitman Harris 2010The derivation of EOQ/EPQ inventory models with two backorders costs using analytic geometry and algebra 2013A mathematical model on EPQ for stochastic demand in an imperfect production system 2011Maximising profits for an EPQ model with unreliable machine and rework of random defective items 2011Multi products single machine EPQ model with immediate rework process 2015Determining optimal price, replenishment lot size and number of shipments for an EPQ model with rework and multiple shipments 2012An improved solution to the replenishment policy for the EMQ model with rework and multiple shipments

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2023Fuzzy Inventory Model for Imperfect Items with Price Discount and Penalty Maintenance Cost 2018Economic production quantity model considering warm-up period in a cleaner production environment 2019Survey on Inventory Model of EOQ & EPQ with Partial Backorder Problems 2019An economic production quantity model with backlogging and imperfect rework process for uncertain demand

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