Acta Scientific Computer Sciences

Research Article Volume 4 Issue 11

Validity Judgment of an EOQ Model Under Customers’ Feedback

Pratima Dinda and Suman Maity*

Department of Mathematics, Raja Narendra Lal Kan Women’s College (Autonomous), West Bengal, India

*Corresponding Author: Suman Maity, Department of Mathematics, Raja Narendra Lal Kan Women’s College (Autonomous), West Bengal, India.

Received: September 20, 2022; Published: October 31, 2022

Abstract

In this article, we have developed a classical backorder EOQ model. Constructing a cost function of the proposed model we optimize it with the help of Lingo 16.0 software. Taking sensitivity analysis of the proposed model we compute the mean, median and mode using those data sets and get their corresponding average inventory costs. Then we make a public judgment through the responses true or false over any of the cost values from model optimum, mean, median and mode values of the model itself. Incorporating phi-coefficient curves for the decision variables we have searched their point of intersections for validity testing.

Keywords: EOQ Model; Mean; Median; Mode; Phi-coefficient

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Citation

Citation: Pratima Dinda and Suman Maity. “Validity Judgment of an EOQ Model Under Customers’ Feedback". Acta Scientific Computer Sciences 4.11 (2022): 46-55 .

Copyright

Copyright: © 2022 Pratima Dinda and Suman Maity. This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.




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