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Author(s): Suchita Agrawal, Prabha Rohatgi

Email(s): rohatgi.prabha@gmail.com

Address: School of studies in statistic, Pt. Ravishankar Shukla University, Raipur-492010, India.

Published In:   Volume - 29,      Issue - 3,     Year - 2016


Cite this article:
Agrawal and Rohatgi (2016). Optimization of EOQ of Multi-Item Inventory Control Problem through Nonlinear Programming Technique. Journal of Ravishankar University (Part-B: Science), 29(3), pp.40-48.



Journal of Ravishankar University - B, 29 (2&3)   pp.40-48  (2016)

Optimization of EOQ of Multi-Item Inventory Control Problem through Nonlinear Programming Technique

Suchita Agrawal and Prabha Rohatgi

School of studies in statistic, Pt. Ravishankar Shukla University, Raipur-492010, India

Corresponding author: rohatgi.prabha@gmail.com

[Received 23 January 2016; revised version 30 September 2016; accepted 28 August 2016]

Abstract. Inventory classification of drugs and medicines using ABC-VED analysis is the most widely employed technique in the pharmacy department of private and government hospitals both. This paper studies the optimal order policy for the economic order quantity (EOQ) inventory model under limited budget constraint. The multi-item inventory problem to obtain the optimum EOQ level has been derived as non linear programming problem under limited budget and number of orders in a fixed period of time constraints. Numerical illustrations have been given for different models by using secondary data.

Keywords: ABC-VED inventory classification, non linear programming technique, optimization of EOQ

NOTE: Full version of this manuscript is available in PDF.



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