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Two Heuristics for the Basic EOQ and EPQ with Partial Backordering

Author

Listed:
  • David W. Pentico

    (Palumbo-Donahue School of Business, Duquesne University, Pittsburgh, PA, USA)

  • Carl Toews

    (Department of Mathematics and Computer Science, University of Puget Sound, Tacoma, WA, USA)

  • Matthew J. Drake

    (Palumbo-Donahue School of Business, Duquesne University, Pittsburgh, PA, USA)

Abstract

This paper describes two heuristics for the basic economic order quantity and economic production quantity with partial backordering that use the time between orders and the percentage of demand filled from stock as the decision variables. Tests of the heuristics on a set of problems generated by using different values for six situational characteristics indicate that both heuristics should perform well as long as the critical value of the backordering rate is positive and very well if it is at least 0.50.

Suggested Citation

  • David W. Pentico & Carl Toews & Matthew J. Drake, 2014. "Two Heuristics for the Basic EOQ and EPQ with Partial Backordering," International Journal of Information Systems and Supply Chain Management (IJISSCM), IGI Global, vol. 7(4), pages 31-49, October.
    • Handle: RePEc:igg:jisscm:v:7:y:2014:i:4:p:31-49
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    Cited by:

    1. Pentico, David W. & Toews, Carl & Drake, Matthew J., 2015. "Approximating the EOQ with partial backordering at an exponential or rational rate by a constant or linearly changing rate," International Journal of Production Economics, Elsevier, vol. 162(C), pages 151-159.

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