Development of an EOQ Model for Single Source to Multi Destination

2012 ◽  
Vol 3 (4) ◽  
pp. 51-70
Author(s):  
Kanika Gandhi ◽  
P. C. Jha ◽  
M. Mathirajan
Keyword(s):  
Real Life ◽  
Fuzzy Optimization ◽  
Single Source ◽  
Short Life ◽  
Eoq Model ◽  
Industry Environment ◽  
Constant Quantity ◽  
Demand Rate ◽  
Holding Cost

Industry environment has become competitive because of product’s short life cycle. Competition reaches to extreme, when products are deteriorating which further makes demand uncertain. Generally, in deriving the solution of economic order quantity (EOQ) inventory model, the authors consider the demand rate as constant quantity. But in real life, demand cannot be forecasted precisely which causes fuzziness in related constraints and cost functions. Managing inventory, procurement, and transportation of deteriorating natured products with fuzzy demand, and holding cost at source and destination becomes very crucial in supply chain management (SCM). The objective of the current research is to develop a fuzzy optimization model for minimizing cost of holding, procurement, and transportation of goods from single source point to multi demand points with discount policies at the time of ordering and transporting goods in bulk quantity. A real life case study is produced to validate the model.

A FLUID EOQ MODEL WITH A TWO-STATE RANDOM ENVIRONMENT

2006 ◽  
Vol 20 (2) ◽  
pp. 329-349 ◽  
Author(s):  
Oded Berman ◽  
David Perry ◽  
Wolfgang Stadje
Keyword(s):  
Random Environment ◽  
Classical Problem ◽  
Type Model ◽  
Expected Number ◽  
Setup Cost ◽  
Eoq Model ◽  
Demand Rate ◽  
Markovian Random Environment ◽  
Holding Cost ◽  
Stochastic Fluid

We study a stochastic fluid EOQ-type model operating in a Markovian random environment of alternating good and bad periods determining the demand rate. We deal with the classical problem of “when to place an order” and “how big it should be,” leading to the trade-off between the setup cost and the holding cost. The key functionals are the steady-state mean of the content level, the expected cycle length (which is the time between two large orders), and the expected number of orders in a cycle. These performance measures are derived in closed form by using the level crossing approach in an intricate way. We also present numerical examples and carry out a sensitivity analysis.

EOQ Model with Time Dependent Demand Rate and Time Dependent Holding Cost Function

2013 ◽  
pp. 381-392
Author(s):  
R. P. Tripathi
Keyword(s):  
Infinite Horizon ◽  
Decision Rules ◽  
Time Dependent ◽  
Single Item ◽  
Eoq Model ◽  
Optimal Policies ◽  
Demand Rate ◽  
Holding Cost ◽  
Dependent Demand Rate ◽  
Dependent Demand

In this paper the authors consider the continuous deterministic, infinite horizon, single item inventory system within the setting of a retailer sector in which the demand rate for an item is time dependent. The parameter of the replenishment cost is kept constant, but the carrying cost per unit is allowed to vary. The optimal policies are found, and decision rules and classical EOQ model have been obtained by considering two different models. Numerical examples are given to illustrate the proposed models.

scholarly journals Inventory Level Improvement in Pharmacy Company Using Probabilistic EOQ Model and Two Echelon Inventory: A Case Study

2020 ◽  
Vol 13 (3) ◽  
pp. 229-242
Author(s):  
Desy Anisya Farmaciawaty ◽  
◽  
Mursyid Hasan Basri ◽  
Akbar Adhi Utama ◽  
Fransisca Budyanto Widjaja ◽  
...  
Keyword(s):  
Inventory Management ◽  
Lead Time ◽  
Inventory Level ◽  
Setup Cost ◽  
Inventory Cost ◽  
Decentralized System ◽  
Class A ◽  
Eoq Model ◽  
Holding Cost

Abstract. This research is aimed to maintain the inventory level in a two-echelon pharmacy company. The company is a pharmacy company that has 16 branches that operate in Bandung and the surrounding area. The company has a problem with its high inventory cost. To solve the problem, the authors compare two methods that suit the company condition, i.e., the decentralized system using probabilistic EOQ model and the centralization system using the multi-echelon inventory technique. We analyzed sales data and on-hand inventory data acquired from the company information system to perform the study. We limit the scope to the class A items only. We also assume the lead time, setup cost, and holding cost used in this study with the company's owner's consent. To conclude, using the decentralized system, the company will save 31% of their inventory cost, while using the centralization system with the multi-echelon technique, the company will be able to save 61% of their inventory cost. We recommend the company to refer to its competitive strategy before deciding which model it would be implemented. Keywords: Centralization, Decentralization, Probabilistic Economic Order Quantity (EOQ), Multi-Echelon Inventory, Pharmaceutical Inventory Management

EOQ Model with Time Dependent Demand Rate and Time Dependent Holding Cost Function

2011 ◽  
Vol 2 (3) ◽  
pp. 79-92 ◽  
Author(s):  
R. P. Tripathi
Keyword(s):  
Infinite Horizon ◽  
Decision Rules ◽  
Time Dependent ◽  
Single Item ◽  
Eoq Model ◽  
Optimal Policies ◽  
Demand Rate ◽  
Holding Cost ◽  
Dependent Demand Rate ◽  
Dependent Demand

In this paper the authors consider the continuous deterministic, infinite horizon, single item inventory system within the setting of a retailer sector in which the demand rate for an item is time dependent. The parameter of the replenishment cost is kept constant, but the carrying cost per unit is allowed to vary. The optimal policies are found, and decision rules and classical EOQ model have been obtained by considering two different models. Numerical examples are given to illustrate the proposed models.

scholarly journals Deterministic EOQ models for non linear time induced demand and different holding cost functions

2016 ◽  
Vol 12 (2) ◽  
pp. 5949-5959 ◽  
Author(s):  
Surbhi Aneja ◽  
R P Tripathi ◽  
D Singh
Keyword(s):  
Linear Function ◽  
Linear Time ◽  
Inventory Level ◽  
Holding Costs ◽  
Eoq Model ◽  
Eoq Models ◽  
Level Ii ◽  
Non Linear ◽  
Demand Rate ◽  
Holding Cost

This paper presents an Economic order quantity (EOQ) model for deteriorating items. The demand rate is non-linear function of time. In this paper two models have been derived for different holding costs (i) The holding cost is linear function of the on hand inventory level. (ii). A non-linear function of time for which the item is kept in the stock. Optimization is done for both the models and numerical examples are presented to check the feasibility of the optimal solutions. Sensitivity analysis is also presented with respect to the various parameters used in the numerical example.

Contamination Lab of Turin (CLabTo)

2019 ◽  
Vol 2 (1) ◽  
Author(s):  
Eleonora FIORE ◽  
Giuliano SANSONE ◽  
Chiara Lorenza REMONDINO ◽  
Paolo Marco TAMBORRINI
Keyword(s):  
University Students ◽  
Single Case ◽  
Real Life ◽  
Learning By Doing ◽  
Assessment Data ◽  
Entrepreneurial Skills ◽  
Fields Of Study ◽  
Education Levels ◽  
Positive Effect

Interest in offering Entrepreneurship Education (EE) to all kinds of university students is increasing. Therefore, universities are increasing the number of entrepreneurship courses intended for students from different fields of study and with different education levels. Through a single case study of the Contamination Lab of Turin (CLabTo), we suggest how EE may be taught to all kinds of university students. We have combined design methods with EE to create a practical-oriented entrepreneurship course which allows students to work in transdisciplinary teams through a learning-by-doing approach on real-life projects. Professors from different departments have been included to create a multidisciplinary environment. We have drawn on programme assessment data, including pre- and post-surveys. Overall, we have found a positive effect of the programme on the students’ entrepreneurial skills. However, when the data was broken down according to the students’ fields of study and education levels, mixed results emerged.

Participation and spatial transformation in large housing estates in Poland. Case study of Ursynów Północny

2018 ◽  
Vol 60 (1) ◽  
pp. 55-65
Author(s):  
Krystyna Ilmurzyńska
Keyword(s):  
Basic Assumption ◽  
Real Life ◽  
Business Environment ◽  
Spatial Transformation ◽  
Reciprocal Relationships ◽  
Spatial Transformations ◽  
Large Housing Estates ◽  
Existing Housing ◽  
Housing Estates

Abstract This article investigates the suitability of traditional and participatory planning approaches in managing the process of spatial development of existing housing estates, based on the case study of Warsaw’s Ursynów Północny district. The basic assumption of the article is that due to lack of government schemes targeted at the restructuring of large housing estates, it is the business environment that drives spatial transformations and through that shapes the development of participation. Consequently the article focuses on the reciprocal relationships between spatial transformations and participatory practices. Analysis of Ursynów Północny against the background of other estates indicates that it presents more endangered qualities than issues to be tackled. Therefore the article focuses on the potential of the housing estate and good practices which can be tracked throughout its lifetime. The paper focuses furthermore on real-life processes, addressing the issue of privatisation, development pressure, formal planning procedures and participatory budgeting. In the conclusion it attempts to interpret the existing spatial structure of the estate as a potential framework for a participatory approach.

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