A stochastic goal-based economic order quantity model for multi-item inventory

The classical Economic Order Quantity (EOQ) assumes constant demand for a single item. This paper proposes a multiobjective goal programming model to optimize the EOQ of multiple items under stochastic demand. Adopting Markov chain methodologies, the model initially defines the demand transition mat...

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Bibliographic Details

Published in:	International Journal of Research in Industrial Engineering
Main Author:	Kizito Mubiru
Format:	Article
Language:	English
Published:	Ayandegan Institute of Higher Education, 2024-12-01
Subjects:	economic order quantity goal inventory multi-item stochastic
Online Access:	https://www.riejournal.com/article_200412_17e63007602b435c397550e58220d22d.pdf