A stochastic goal-based economic order quantity model for multi-item inventory

A stochastic goal-based economic order quantity model for multi-item inventory

The classical Economic Order Quantity (EOQ) assumes constant demand for a single item. This paper proposes a multiobjective goal programming model to optimize the EOQ of multiple items under stochastic demand. Adopting Markov chain methodologies, the model initially defines the demand transition mat...

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Bibliographic Details
Main Author: Kizito Mubiru
Format: Article
Language:English
Published: Ayandegan Institute of Higher Education, 2024-12-01
Series:International Journal of Research in Industrial Engineering
Subjects:
economic order quantity
goal
inventory
multi-item
stochastic
Online Access:https://www.riejournal.com/article_200412_17e63007602b435c397550e58220d22d.pdf
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