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INTERNATIONAL JOURNAL OF CREATIVE RESEARCH THOUGHTS - IJCRT (IJCRT.ORG)
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ISSN Approved Journal No: 2320-2882 | Impact factor: 7.97 | ESTD Year: 2013
Call For Paper - Volume 12 | Issue 7 | Month- July 2024
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Published Paper Details:
Paper Title
ECONOMIC ORDER QUANTITY WITH BACKORDERS ALLOWED MODEL AND ITS IMPLICATION ON TOTAL COST OF INVENTORY IN COMPARISON WITH BASIC EOQ MODEL
Authors
Mr. Sitesh J. Surati
Keywords
EOQ, Economic Order Quantity, Backordering, Shortages, Costs of Inventory, SCM.
Abstract
Basic EOQ model is formulated by considering various restrictions which are in terms of assumptions. One of among this is the backorders not allowed. This paper will describe and formulate the EOQ model with backorders are allowed with simple differential calculations. This paper also gives the explanation for the implication of this model on trade-offs between the components of total cost of inventory. A numerical example is also included for better comparison of the two models with numbers. At last the critical consideration on backordering cost is also provided for making review decision among the two models.
IJCRT's Publication Details
Unique Identification Number - IJCRTDRBC073
Paper ID - 187888
Page Number(s) - 496-501
Pubished in - Volume 6 | Issue 2 | MARCH 2018
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Publisher Name - IJCRT | www.ijcrt.org | ISSN : 2320-2882
E-ISSN Number - 2320-2882
Cite this article
Mr. Sitesh J. Surati, "ECONOMIC ORDER QUANTITY WITH BACKORDERS ALLOWED MODEL AND ITS IMPLICATION ON TOTAL COST OF INVENTORY IN COMPARISON WITH BASIC EOQ MODEL", International Journal of Creative Research Thoughts (IJCRT), ISSN:2320-2882, Volume.6, Issue 2, pp.496-501, MARCH 2018, Available at :http://www.ijcrt.org/papers/IJCRTDRBC073.pdf
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Volume 12 | Issue 7
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ISSN: 2320-2882 Impact Factor: 7.97 and ISSN APPROVED Journal Starting Year (ESTD) : 2013
ISSN and 7.97 Impact Factor Details
ISSN: 2320-2882 Impact Factor: 7.97 and ISSN APPROVED Journal Starting Year (ESTD) : 2013
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