An EOQ model with state-dependent demand rate |
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Affiliation: | 1. Department of Chemical Engineering, University of Patras, Rio, Patras 26504, Greece;2. Research Infrastructure for Waste Valorization and Sustainable Management of Resources, Patras, Greece |
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Abstract: | We present an EOQ-type model in which the demand rate is a function of the inventory level. The demand functions and holding cost functions considered are quite general. In particular, we focus on two types of demand rate functions: a piecewise constant function and a family of exponential functions. The paper includes analysis of the problem, optimization and sensitivity analysis. We also extend the model by adding randomness to the order sizes. |
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