Asim Kumar Das; Tapan Kumar Roy

Fractional Order EOQ Model with Linear Trend of Time-Dependent Demand

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Author(s)

1. Department of Applied Mathematics, Indian Institute of Engineering Science and Technology, Shibpur, Howrah, WestBengal, 711103, India

* Corresponding author.

DOI: https://doi.org/10.5815/ijisa.2015.03.06

Received: 6 Jul. 2014 / Revised: 4 Oct. 2014 / Accepted: 20 Dec. 2014 / Published: 8 Feb. 2015

Index Terms

Fractional differentiation, Fractional Integration, Fractional Differential Equation, Set up Cost, Holding Cost, Economic Order Quantity

Abstract

In this paper we introduce the classical EOQ model with a linear trend of time-dependent demand having no shortages using the concept of fractional calculus. The application of fractional calculus has been already used in classical EOQ model where the demand is assumed to be constant. In this present article fractional differential calculus can be used to describe EOQ model with time-dependent linear trend of demand to develop more generalized EOQ model. Here, we want to discuss more deeply its role as a tool for describing the traditional classical EOQ model with time dependent demand.

Cite This Paper

Asim Kumar Das, Tapan Kumar Roy, "Fractional Order EOQ Model with Linear Trend of Time-Dependent Demand", International Journal of Intelligent Systems and Applications(IJISA), vol.7, no.3, pp.44-53, 2015. DOI:10.5815/ijisa.2015.03.06

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