An examination of inventory and production costs in the models with stock out risk under JIT system. (2017)

• Record Type: Journal Article
• Authors: Chakrabarty, Ruchira; Roy, Tapan; Chaudhuri, Kripasindhu S.
• Is Part Of: International journal of business forecasting and marketing intelligence. Volume 3:Number 3(2017)
• Page Start: 259
• Page End: 269
• Publication Date: 2017
• Subjects: EMQ-JIT cost indifference point -- EOQ-JIT cost indifference point -- revised EMQ-JIT production model -- revised EOQ-JIT production model -- stock out risk -- price discount; Business forecasting -- Periodicals; Marketing research -- Periodicals; 658.40355
• Languages: English
• ISSNs: 1744-6635

Abstract

This paper develops a new EMQ-JIT and EOQ-JIT cost indifference point equations considering stock out risk and other several factors transportation and space cost savings. Again, the price discount system has been taken into account under EOQ purchasing. So, the main purpose of this paper is to establish a cost comparison of the classic EMQ and EOQ model and revised EMQ/JIT and EOQ/JIT model.