A Discrete Time Economic Order Quantity Model for Ameliorating Items with Constant Holding Cost and Linear Demand
Adamu, H.
Yakubu, M. I.
Abstract
This research is concerned with the creation of an inventory model for improving items with discrete time, constant holding cost, and linear demand. When products are successfully in stock, they undergo some improvement, and as a result, the stock becomes more useful. The aim is to find the optimal order size and restocking interval that keep total costs as low as possible. The study presents a framework that analyses how the increasing value of items affects inventory decisions and optimal ordering quantities. The article went further to discuss how linear demand cost influence inventory levels and discuss optimization techniques that can be employed to efficiently manage these costs. The demand rate is considered to be linear, and shortages are not permitted. The model is numerically illustrated, and a sensitivity analysis with regard to the ameliorating factors is performed to determine the effect of parameter modifications.
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