scholarly journals Arbitrary-order economic production quantity model with and without deterioration: generalized point of view

2020 ◽  
Vol 2020 (1) ◽  
Author(s):  
Mostafijur Rahaman ◽  
Sankar Prasad Mondal ◽  
Ali Akbar Shaikh ◽  
Ali Ahmadian ◽  
Norazak Senu ◽  
...  
Keyword(s):  
Fractional Calculus ◽  
Production Rate ◽  
Fractional Order ◽  
Arbitrary Order ◽  
Optimization Techniques ◽  
Point Of View ◽  
Economic Production Quantity ◽  
Economic Production ◽  
Epq Model ◽  
Production Quantity

AbstractThe key objective of this paper is to study and discuss the application of fractional calculus on an arbitrary-order inventory control problem. Using the concepts of fractional calculus followed by fractional derivative, we construct different possible models like generalized fractional-order economic production quantity (EPQ) model with the uniform demand and production rate and generalized fractional-order EPQ model with the uniform demand and production rate and deterioration. Also, we show that the classical EPQ model is the particular case of the corresponding generalized fractional EPQ model. This greatly facilitates the researcher a novel tactic to analyse the solution of the EPQ model in the presence of fractional index. Furthermore, this attempt also provides the solution obtained through the optimization techniques after using the real distinct poles rational approximation of the generalized Mittag-Leffler function.

scholarly journals An EPQ Model with Unit Production Cost and Set-Up Cost as Functions of Production Rate

2013 ◽  
Vol 2013 ◽  
pp. 1-6 ◽  
Author(s):  
Behrouz Afshar-Nadjafi
Keyword(s):  
Production Rate ◽  
Production Cost ◽  
Continuous Functions ◽  
Optimal Production ◽  
Economic Production Quantity ◽  
Economic Production ◽  
Epq Model ◽  
Production Quantity ◽  
Set Up ◽  
The Cost

Extensive research has been devoted to economic production quantity (EPQ) problem. However, no attention has been paid to problems where unit production and set-up costs must be considered as functions of production rate. In this paper, we address the problem of determining the optimal production quantity and rate of production in which unit production and set-up costs are assumed to be continuous functions of production rate. Based on the traditional economic production quantity (EPQ) formula, the cost function associated with this model is proved to be nonconvex and a procedure is proposed to solve this problem. Finally, utility of the model is presented using some numerical examples and the results are analyzed.

scholarly journals The effect of service constraint on EPQ model with random defective rate

2006 ◽  
Vol 2006 ◽  
pp. 1-5 ◽  
Author(s):  
Yung-Fu Huang
Keyword(s):  
Annual Cost ◽  
Differential Calculus ◽  
Cost Minimization ◽  
Algebraic Approach ◽  
Optimal Solution ◽  
Service Level ◽  
Economic Production Quantity ◽  
Economic Production ◽  
Epq Model ◽  
Production Quantity

Chiu studied the effect of service-level constraint on the economic production quantity (EPQ) model with random defective rate. In this note, we will offer a simple algebraic approach to replace his differential calculus skill to find the optimal solution under the expected annual cost minimization.

A NOTE ON EPQ MODEL FOR SEASONAL PERISHABLE PRODUCTS WITH STOCK DEPENDENT DEMAND

2008 ◽  
Vol 25 (03) ◽  
pp. 301-315 ◽  
Author(s):  
S. PANDA ◽  
S. SAHA ◽  
M. BASU
Keyword(s):  
Perishable Products ◽  
Programming Technique ◽  
Economic Production Quantity ◽  
Economic Production ◽  
Time Period ◽  
Capacity Level ◽  
Proposed Model ◽  
Production Inventory ◽  
Epq Model ◽  
Production Quantity

A single item, single cycle economic production quantity model for perishable products is proposed where the demand is two-component and stock dependent. The production inventory scenario of products like cake, bread, fast foods, fishes, garments, cosmetics etc in the festival season is considered. The profit function is formulated under the assumption that the time period of the festival seasons is fixed and the display capacity of the produced item is limited. In the formulation process, to introduce more flexibility, a goal programming technique is incorporated to achieve the producer's desired profit and stock of as much inventory as possible below the display capacity level. A numerical example is presented to illustrate the proposed model. A sensitivity analysis of the model is also carried out.

scholarly journals Pengembangan Model Economic Production Quantity (EPQ) dengan Sinkronisasi Demand Kontinu dan Diskrit Secara Simultan

2016 ◽  
Vol 15 (1) ◽  
pp. 78 ◽  
Author(s):  
Nurike Oktavia ◽  
Henmaidi Henmaidi ◽  
Jonrinaldi Jonrinaldi
Keyword(s):  
Total Production ◽  
Lot Size ◽  
Inventory Cost ◽  
Economic Production Quantity ◽  
Economic Production ◽  
Holding Cost ◽  
Epq Model ◽  
Production Quantity ◽  
Set Up ◽  
Production Lot Size

The most popular inventory model to determine production lot size is Economic Production Quantity (EPQ). It shows enterprise how to minimize total production cost by reducing inventory cost. But, three main parameters in EPQ which are demand, machine set up cost, and holding cost, are not suitable to solve issues nowadays. When an enterprise has two types of demand, continue and discrete demand, the basic EPQ would be no longer useful. Demand continues comes from a customer who wants their needs to be fulfilled every time per unit time, while the fulfillment of demand discrete is at a fixed interval of time. A literature review is done by writers to observe other formulation of EPQ model. As there is no other research can be found which adopt this topic, this study tries to develop EPQ model considering two types of demand simultaneously.

Economic production quantity (EPQ) model with partial backordering and a discount for imperfect quality batches

2018 ◽  
Vol 56 (18) ◽  
pp. 6279-6293 ◽  
Author(s):  
Luiza Ribeiro Alves Cunha ◽  
Ana Paula Santos Delfino ◽  
Kamila Almeida dos Reis ◽  
Adriana Leiras
Keyword(s):  
Imperfect Quality ◽  
Economic Production Quantity ◽  
Economic Production ◽  
Partial Backordering ◽  
Epq Model ◽  
Production Quantity

Artificial bee colony optimization-inspired synergetic study of fractional-order economic production quantity model

2020 ◽  
Vol 24 (20) ◽  
pp. 15341-15359 ◽  
Author(s):  
Mostafijur Rahaman ◽  
Sankar Prasad Mondal ◽  
Ali Akbar Shaikh ◽  
Prasenjit Pramanik ◽  
Samarjit Roy ◽  
...  
Keyword(s):  
Fractional Order ◽  
Artificial Bee Colony ◽  
Artificial Bee Colony Optimization ◽  
Economic Production Quantity ◽  
Bee Colony ◽  
Economic Production ◽  
Bee Colony Optimization ◽  
Production Quantity

Consumer Electronics Enterprise Patent Strategy Based on University-Enterprise Cooperation with a Failure Rate

2014 ◽  
Vol 556-562 ◽  
pp. 6616-6619
Author(s):  
Jun Chen ◽  
Lai Fu Ye
Keyword(s):  
Research And Development ◽  
Failure Rate ◽  
Optimal Number ◽  
Consumer Electronics ◽  
Economic Production Quantity ◽  
Patent Strategy ◽  
Economic Production ◽  
Epq Model ◽  
Production Quantity ◽  
Development Failure

Based on Economic Production Quantity (EPQ) model with certain defective rate, this paper analyses technology patent storage problems in university-enterprise cooperation under the perspective of consumer electronics enterprise, finds out the optimal number and cycle of patent research considering the factor of research and development failure rate.

scholarly journals EPQ Model for Trended Demand with Rework and Random Preventive Machine Time

2013 ◽  
Vol 2013 ◽  
pp. 1-8 ◽  
Author(s):  
Nita H. Shah ◽  
Dushyantkumar G. Patel ◽  
Digeshkumar B. Shah
Keyword(s):  
Sensitivity Analysis ◽  
Optimal Solution ◽  
Rate Of Change ◽  
Machine Time ◽  
Economic Production Quantity ◽  
Economic Production ◽  
Model Search ◽  
Demand Rate ◽  
Epq Model ◽  
Production Quantity

Economic production quantity (EPQ) inventory model for trended demand has been analyzed with rework facility and stochastic preventive machine time. Due to the complexity of the model, search method is proposed to determine the best optimal solution. A numerical example and sensitivity analysis are carried out to validate the proposed model. From the sensitivity analysis, it is observed that the rate of change of demand has significant impact on the optimal inventory cost. The model is very sensitive to the production and demand rate.

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