Entropic order quantity (EnOQ) model for deteriorating items |
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| Authors: | M.Y. Jaber M. Bonney M.A. Rosen I. Moualek |
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| Affiliation: | 1. Department of Mechanical and Industrial Engineering, Ryerson University, Toronto, ON, Canada M5B 2K3;2. Operations Management Division, Nottingham University Business School, Jubilee Campus, Nottingham NG8 1BB, UK;3. Faculty of Engineering and Applied Science, University of Ontario Institute of Technology Oshawa, ON, Canada L1H 7L7 |
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| Abstract: | Jaber et al. [M.Y. Jaber, R.Y. Nuwayhid, M.A. Rosen, Price-driven economic order systems from a thermodynamic point of view, Int. J. Prod. Res. 42 (24) (2004) 5167–5184] suggested that it might be possible to improve production systems performance by applying the first and second laws of thermodynamics to reduce system entropy (or disorder). They then used these laws to modify the economic order quantity (EOQ) model to derive an equivalent entropic order quantity (EnOQ). The results suggested that larger quantities should be ordered than is suggested by the classical EOQ model. |
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| Keywords: | Order quantity Price dependent demand Deterioration Entropy cost |
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