An Algorithm for Solution of an Interval Valued EOQ Model

An International Journal of Optimization and Control: Theories & Applications

article

Susovan CHAKRABORTTY¹  Madhumangal PAL²  Prasun Kumar NAYAK³ 

[1] Department of Applied Mathematics with Oceanology and Computer Programming,Vidyasagar University;Department of Applied Mathematics with Oceanology and Computer Programming,Vidyasagar University;Department of Mathematics, Bankura Christian College

关键词: Inventory;    Interval arithmetic;    Interval valued Demand;    Interval lead time;    Interval valued inventory cost parameters;   

DOI  :  10.11121/ijocta.01.2013.00113

学科分类：地球科学(综合)

来源: Balikesir University

【 摘 要 】

This paper deals with the problem of determining the economic order quantity (EOQ)in the interval sense. A purchasing inventory model with shortages and lead time, whose carryingcost, shortage cost, setup cost, demand quantity and lead time are considered as interval numbers,instead of real numbers. First, a brief survey of the existing works on comparing and ranking anytwo interval numbers on the real line is presented. A common algorithm for the optimum productionquantity (Economic lot-size) per cycle of a single product (so as to minimize the total average cost) isdeveloped which works well on interval number optimization under consideration. A numerical exampleis presented for better understanding the solution procedure. Finally a sensitive analysis of the optimalsolution with respect to the parameters of the model is examined.

【 授权许可】

CC BY