Economic order quantity model with demand influenced by dynamic innovation effect
type: Item
instance of: scholarly article
title: Economic order quantity model with demand influenced by dynamic innovation effect
zbMATH Open document ID: 1230.90012
DOI: 10.1504/IJOR.2011.040697
author: Udayan Chanda
author: Alok Kumar
published in: International Journal of Operational Research
publication date: 2012-01-18T00:00:00Z
review text: Summary: Inventory control policies for new-product items are highly perceptive to different marketing policies especially for innovation effects at the earlier stage of the product life cycle but unfortunately classical economic order quantity (EOQ) model do not recognises the innovation driven demand model. In this paper, a time dependent innovation driven demand model is introduced in the basic EOQ model to calculate the different optimal policies. The proposed model acknowledges the relationship between the innovation coefficient and the optimal policies. Four hypotheses are framed based on the numerical exercise that could explain the impact of dynamic pattern of the innovation coefficient on different optimal policies.
Mathematics Subject Classification ID: 90B05
zbMATH DE Number: 5999220
zbMATH Keywords: EOQ models
zbMATH Keywords: time dependent demand
zbMATH Keywords: dynamic innovation coefficient
MaRDI profile type: Publication
full work available at URL: ijor.2011.040697
OpenAlex ID: W1978317046
description: scientific article; zbMATH DE number 5999220