Abstract
The economic order quantity (EOQ) model describes the quantity that minimizes the aggregate sum of all cost functions. We propose an assembly for EOQ, nonlinear local fractional differential models with costs functions with respect to time in a cyclic period. For this system, using fractional entropy, we study the related optimization problem and improve a relaxed method for calculating a bounded interval containing the optimal cycle length. Also, for a special class of transportation functions, we study these consequences and introduce processes to compute the optimal size and the matching optimal order stage.
Highlights
The general economy has been defined by an almost linear system
We introduce some conditions ensuring the boundedness of economic order quantity (EOQ) by a fractional entropy (Tsallis entropy)
2.3 Local fractional entropy (LFE) Tsallis presented an entropic formalization characterized by an index γ that implies a nonextensive statistics
Summary
The general economy has been defined by an almost linear system. This system must achieve stability. Equilibrium theory in economics can be introduced by fixed point theorems. If this can be done, the suggested operator has a fixed point according to the theorem. The minimization of EOQ is described by considering a geometric frame for the total cost function during a time period.
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
