Innovative investigation of stock‑sensitive demand induced economic order quantity (EOQ) model for deterioration by means of inconsistentholding cost functions

摘要

This study, sets up an EOQ model for spoiling commodities by means of inventory tempt demand. Holding cost is measuredas portion of inventory echelon for model I and linearly stock dependent for model II. Mathematical models arealso presented for these two models. Next, approximate optimal solution for these models is derived. Optimal solution isobtained with the help of algorithm. Numerical results are established to validate the solution algorithm. Second orderapproximations are applied for finding closed form outcomes. Sensitivity investigation is provided for variation of severalkey parameters to validate the model.