An EPQ model with trapezoidal demand under volume flexibility

Abstract

In this paper, we explored an economic production quantity model (EPQ) model for finite production rate and deteriorating items with time-dependent trapezoidal demand. The objective of the model under study is to determine the optimal production run-time as well as the number of production cycle in order to maximize the profit. Numerical example is also given to illustrate the model and sensitivity analyses regarding various parameters are performed to study their effects on the optimal policy.

Keywords

• Production
• Trapezoidal demand
• Volume flexibility