Fractional Order Generalized EOQ Model with Demand-Dependent Unit Purchasing Cost Under Space Constraints

摘要

In the present article, we introduce a fractional order generalized EOQ model with limited storage capacity where demand is inversely related to unit production cost. Here fractional calculus has been utilized to develop our traditional classical EOQ model to a generalized EOQ model. Here the fractional derivative has been assumed in terms of Caputo-fractional derivative sense and the fractional differential equation has been solved using Laplace transform method. Geometric programming techniques have been applied to get the optimum result of fractional order EOQ model. A numerical example is presented to illustrate the model.