Abstract
SYNOPTIC ABSTRACTThis article presents an economic order quantity (EOQ), model for items with three-parameter Weibull distribution deterioration and quadratic demand trend. The model is developed and analyzed under quasipartial backlogging, i.e., in a situation when a shortage occurs, a good number of customers are willing to wait for the product to become available again. The quadratic demand rate is deterministic and it depicts different phases of market demand, including accelerated rise or fall in demand. The instantaneous rate of deterioration is an increasing function of time. We provide simple analytical tractable procedures for deriving the model and give numerical examples to illustrate the solution procedure. Sensitivity analysis is performed to show how the optimal values of the policy variables in the model change as various model parameters are changed.
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