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Two Heuristics for the Basic EOQ and EPQ with Partial Backordering

Two Heuristics for the Basic EOQ and EPQ with Partial Backordering

David W. Pentico, Carl Toews, Matthew J. Drake
Copyright: © 2014 |Volume: 7 |Issue: 4 |Pages: 19
ISSN: 1935-5726|EISSN: 1935-5734|EISBN13: 9781466655102|DOI: 10.4018/ijisscm.2014100103
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MLA

Pentico, David W., et al. "Two Heuristics for the Basic EOQ and EPQ with Partial Backordering." IJISSCM vol.7, no.4 2014: pp.31-49. http://doi.org/10.4018/ijisscm.2014100103

APA

Pentico, D. W., Toews, C., & Drake, M. J. (2014). Two Heuristics for the Basic EOQ and EPQ with Partial Backordering. International Journal of Information Systems and Supply Chain Management (IJISSCM), 7(4), 31-49. http://doi.org/10.4018/ijisscm.2014100103

Chicago

Pentico, David W., Carl Toews, and Matthew J. Drake. "Two Heuristics for the Basic EOQ and EPQ with Partial Backordering," International Journal of Information Systems and Supply Chain Management (IJISSCM) 7, no.4: 31-49. http://doi.org/10.4018/ijisscm.2014100103

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Abstract

This paper describes two heuristics for the basic economic order quantity and economic production quantity with partial backordering that use the time between orders and the percentage of demand filled from stock as the decision variables. Tests of the heuristics on a set of problems generated by using different values for six situational characteristics indicate that both heuristics should perform well as long as the critical value of the backordering rate is positive and very well if it is at least 0.50.

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