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Formulating an Economic Order Quantity Model for Items with Variable Rate of Deterioration and Two-Component Demand

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Soft Computing for Problem Solving

Part of the book series: Advances in Intelligent Systems and Computing ((AISC,volume 816))

Abstract

In this paper, an economic order quantity (EOQ) model to minimize the total cost for deteriorating items has developed by incorporating items with two-component demand rate. Firstly, from starting to a certain period of the cycle, the demand rate is considered as constant, and secondly, the demand rate is assumed as a linear function of time for the last part of the cycle. The distribution for the deterioration rate of each item is considered as a three-parameter Weibull distribution function. A solution procedure is provided to determine the EOQ and the optimum average total cost. Finally, results are analyzed and demonstrated with an illustrative example.

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Acknowledgements

The authors thank the editor and anonymous reviewers for their valuable and constructive comments, which have led to a significant improvement in the manuscript.

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Authors and Affiliations

  1. Department of Mathematics, C.V. Raman College of Engineering, Bhubaneswar, 752054, Odisha, India

    Trailokyanath Singh & Rahul Kumar Singh

  2. Department of Mathematics, Parala Maharaja Engineering College, Berhampur, 761003, Odisha, India

    Chittaranjan Mallick

Authors
  1. Trailokyanath Singh
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  2. Chittaranjan Mallick
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  3. Rahul Kumar Singh
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Corresponding author

Correspondence to Trailokyanath Singh .

Editor information

Editors and Affiliations

  1. Department of Mathematics, South Asian University New Delhi , New Delhi, India

    Jagdish Chand Bansal

  2. Department of Mathematics, National Institute Of Technology Silchar Department of Mathematics, Silchar, Assam, India

    Kedar Nath Das

  3. Department of Mathematics and Computer Science, Faculty of Science, , Liverpool Hope University, Liverpool, UK

    Atulya Nagar

  4. Department of Mathematics, Indian Institute of Technology Roor Department of Mathematics, Roorkee, Uttarakhand, India

    Kusum Deep

  5. School of Basic Sciences, Indian Institute of Technology Bhubanesw School of Basic Sciences, Bhubaneswar, Odisha, India

    Akshay Kumar Ojha

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Singh, T., Mallick, C., Singh, R.K. (2019). Formulating an Economic Order Quantity Model for Items with Variable Rate of Deterioration and Two-Component Demand. In: Bansal, J., Das, K., Nagar, A., Deep, K., Ojha, A. (eds) Soft Computing for Problem Solving. Advances in Intelligent Systems and Computing, vol 816. Springer, Singapore. https://doi.org/10.1007/978-981-13-1592-3_21

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