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Seyed Taghi Akhavan Niaki. Bikash Koli Dey. This paper develops a sustainable integrated inventory model for maximizing profit with a controllable lead time, discrete setup cost reduction, and consideration of environmental issues.
Contrary to the available literature, this paper considers a discrete setup cost for the vendor, thus making the integrated model sustainable. An algorithm is developed to obtain the numerical results. Numerical examples and sensitivity analyses are given to illustrate the model. Ma Muhagir. The aim of this study is to explain the necessity of using the economic order quantity, EOQ, model in the field of inventory control and management. The study also showed how the mathematical formula was derived using calculus and mathematical modeling.
In addition, Microsoft Excel software is used to give a visual representation of the results of the calculations of EOQ. Finally, the limitations of EOQ used in this study are mentioned and explained. Sudhansu Khanra. American Journal of Applied Mathematics and Statistics. Chukwudi Justin Ogbonna. Log in with Facebook Log in with Google.
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Contrary to the available literature, this paper considers a discrete setup cost for the vendor, thus making the integrated model sustainable. An algorithm is developed to obtain the numerical results. Numerical examples and sensitivity analyses are given to illustrate the model. Ma Muhagir. The aim of this study is to explain the necessity of using the economic order quantity, EOQ, model in the field of inventory control and management. The study also showed how the mathematical formula was derived using calculus and mathematical modeling.
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