An economic order quantity model with partial backordering and a special sale price |
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Authors: | Ata Allah Taleizadeh David W Pentico Mirbahador Aryanezhad Seyed Mohammad Ghoreyshi |
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Institution: | 1. Department of Industrial Engineering, Iran University of Science and Technology, Hengam Ave., Tehran 1684613114, Iran;2. Palumbo Donahue School of Business, Duquesne University, Pittsburgh, PA 15282-0180, USA |
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Abstract: | A constant unit purchase cost is one of the main assumptions in the classic economic order quantity model. In practice, suppliers sometimes offer special sale prices to stimulate sales or decrease inventories of certain items. In this paper we develop an EOQ model with a special sale price and partial backordering. We prove the convexity of the cost-reduction function if a special order is placed at the special sale price. A solution method is proposed and numerical examples are presented. |
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Keywords: | Inventory EOQ Partial backordering Special sale prices |
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