The EPQ with partial backordering and phase-dependent backordering rate
In previous work we established a closed-form optimal stocking strategy for an EPQ model with partial backordering at a constant rate [beta]. Here we extend this work to allow for the possibility that the percentage of demand backordered will increase when production starts again. We show how our previous model can be adapted to find the optimal decision variable values for this new assumption and develop the condition that the initial value of [beta] must meet for partial backordering to be optimal.
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Volume (Year): 39 (2011)
Issue (Month): 5 (October)
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- San José, L.A. & Sicilia, J. & Garcia-Laguna, J., 2006. "Analysis of an inventory system with exponential partial backordering," International Journal of Production Economics, Elsevier, vol. 100(1), pages 76-86, March.
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- Pentico, David W. & Drake, Matthew J., 2009. "The deterministic EOQ with partial backordering: A new approach," European Journal of Operational Research, Elsevier, vol. 194(1), pages 102-113, April.
- Abad, Prakash L., 2008. "Optimal price and order size under partial backordering incorporating shortage, backorder and lost sale costs," International Journal of Production Economics, Elsevier, vol. 114(1), pages 179-186, July.
- P. L. Abad, 1996. "Optimal Pricing and Lot-Sizing Under Conditions of Perishability and Partial Backordering," Management Science, INFORMS, vol. 42(8), pages 1093-1104, August.
- L. A. San José & J. Sicilia & J. García-Laguna, 2005. "An Inventory System With Partial Backlogging Modeled According To A Linear Function," Asia-Pacific Journal of Operational Research (APJOR), World Scientific Publishing Co. Pte. Ltd., vol. 22(02), pages 189-209.
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