An EOQ Model with Three-Parameter Weibull Deterioration, Trended Demand and Time Varying Holding Cost with Salvage

International Journal of Mathematics Trends and Technology (IJMTT)
© 2017 by IJMTT Journal
Volume-51 Number-5
Year of Publication : 2017
Authors : N. K. Sahoo, P. K. Tripathy


N. K. Sahoo, P. K. Tripathy "An EOQ Model with Three-Parameter Weibull Deterioration, Trended Demand and Time Varying Holding Cost with Salvage", International Journal of Mathematics Trends and Technology (IJMTT). V51(5):363-367 November 2017. ISSN:2231-5373. Published by Seventh Sense Research Group.

An EOQ model is developed for deteriorating items with three parameter Weibull distribution deterioration and linear declined demand rate. The holding cost is considered as time dependent quadratic function. The model is introduced with salvage value. The sensitivity analysis is carried out to study the effect of salvage value and other parameters with a numerical example.

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Weibull distribution deterioration, linear demand, Salvage value, EOQ.