A State of art on economic production quantity models

  • Atul B. Borade Department Mechanical Engineering, Jawaharlal Darda Institute of Engineering & Technology, Yavatmal, India
  • Pankaj S. Ardak Department of Mechanical Engineering, P.R.Pote College of Engineering & Management, Amravati, India
Keywords: Inventory management, Economic Production Quantity, Review

Abstract

Economic ordering quantity is a commonly accepted inventory management model. Its variant economic production quantity (EPQ) model is also a widely researched inventory model. The number of researchers had developed the EPQ model by considering different parameters, such as shortage, backorder, setup cost, deterioration, constant or linear or power form of the demand, rework, scrap, inspection, machine breakdown, etc. The objective of this paper is to review the literature, identify the gap in literature, develop and expand the knowledge base regarding EPQ models. This state of art paper would act as a guideline for researchers. The wide spectrum of the subject provides interesting future research problems.

Published
2017-07-23
How to Cite
Borade, A., & Ardak, P. (2017). A State of art on economic production quantity models. Brazilian Journal of Operations & Production Management, 14(2), 183-186. https://doi.org/https://doi.org/10.14488/BJOPM.2017.v14.n2.a5
Section
Articles