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

N. K. Sahoo; P. K. Tripathy

doi:https://doi.org/10.14445/22315373/IJMTT-V51P549

International Journal of Mathematics Trends and Technology

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Volume 51 | Number 5 | Year 2017 | Article Id. IJMTT-V51P549 | DOI : https://doi.org/10.14445/22315373/IJMTT-V51P549

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

N. K. Sahoo, P. K. Tripathy

Abstract

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.

Keywords

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

References

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Citation :

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), vol. 51, no. 5, pp. 363-367, 2017. Crossref, https://doi.org/10.14445/22315373/IJMTT-V51P549