Economic order quantity for a power demand pattern system with deteriorating items

Abstract

In this paper we develop a mathematical model to study optimal replenishment policy for an economic order quantity system considering items with deterioration. Demand is time dependent and follows a power pattern. The system operates over an infinite planning horizon. Replenishment is instantaneous and lot size is constant. The aim of the paper is to minimise the inventory average total cost per unit time. We propose a procedure for determining the efficient policy and the minimum inventory cost. Numerical examples are provided to illustrate the proposed model.

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