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Waiting-time Dependent Backordering Rate Under Partial Backlogging and Finite Production Rate  

Jung, Ki-Seung (Department of Industrial Engineering, Korea Advanced Institute of Science and Technology)
Hwang, Hark (Department of Industrial Engineering, Korea Advanced Institute of Science and Technology)
Publication Information
Journal of Korean Institute of Industrial Engineers / v.33, no.1, 2007 , pp. 26-32 More about this Journal
Abstract
This study deals with waiting-time dependent backordering rate during stock-out period in the EconomicProduction Quantity (EPQ) model. Assuming that the backordering rate follows an exponentially decreasingfunction of the waiting time, the backorder rate is developed under First-Come-First-Served (FCFS) andLast-Come-First-Served (LCFS) Policy. The mathematical models are developed based on differential equations.Through numerical examples, the validity of the developed models is illustrated.
Keywords
Inventory; Partial Backorder; EPQ; FCFS; LCFS;
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