Establishment of EOQ Model with Quadratic Time-Sensitive Demand and Parabolic-Time Linked Holding Cost with Salvage Value

Abstract

In the present study, we analyze an economic order quantity (EOQ) model for deteriorating surroundings under the quadratic time-linked demand with parabolic time changeable holding cost related with salvage value. Mathematical formulation and solution procedure is developed for determining the most advantageous solution. The theoretical expressions are obtained for finest cycle time and order quantity. The result is verified with the help of numerical examples.Sensitivity investigation and graphical representations are used to study the outcome with a choice of parameters.

Keywords

• Inventory
• Deterioration
• Parabolic holding cost
• Quadratic demand rate
• Salvage value