Economic Order Model With Quadratic Backorder Costs
Journal Title: International Journal of Scientific Research and Management - Year 2014, Vol 2, Issue 1
Abstract
The paper considers backorder costs as a quadratic cost depending on the length of time of the backorder. The quantity ordere d is Q and the reorder level is R. We assume that the backorder cost C β (t) is b 1 + b 2 t + b 3 t 2 . Where b 1 , b 2 and b 3 are the coefficients with respect to t, t 1 e and t 2 , The equations for the linear cost is derived first in section 1 by deriving the expected backorder cost per cycle using the assumption that demand follows th e normal distribution. We extend the method of analysis to derive the backorder costs when the backorder costs is a quadratic function of the length of time of a backorder. The additional costs to the incurred by the linear costs to the costs that is not t ime dependent is. ECONOMIC ORDER MODEL WITH QUADRATIC BACKORDER COSTS
Authors and Affiliations
Dr. Martin Osawaru Omorodion
Keywords
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