Sustainable EOQ under lead-time uncertainty and multi-modal transport

Soon Kyo Lee; Seung Ho Yoo; Taesu Cheong

doi:10.3390/su9030476

Sustainable EOQ under lead-time uncertainty and multi-modal transport

Soon Kyo Lee, Seung Ho Yoo, Taesu Cheong

Research output: Contribution to journal › Article › peer-review

16 Citations (Scopus)

Abstract

In this paper, we examine a sustainable economic order quantity (S-EOQ) problem with a stochastic lead-time and multi-modal transportation options. With the S-EOQ, decisions of order quantities, as well as a reorder point could be influenced by various factors, including unit price, stock-out cost, lead-time variability and emission costs. For a better understanding, we present a mathematical model of the concomitant S-EOQ problem and, using numerical experiments, explore various scenarios to determine the effects of incorporating sustainability considerations into the traditional inventory model on operational decisions including the choice of transportation modal combination and the sourcing decisions.

Original language	English
Article number	476
Journal	Sustainability (Switzerland)
Volume	9
Issue number	3
DOIs	https://doi.org/10.3390/su9030476
Publication status	Published - 2017 Mar 22

Bibliographical note

Publisher Copyright:
© 2017 by the authors.

Keywords

EOQ
Lead-time uncertainty
Multimodal
Sustainability

ASJC Scopus subject areas

Geography, Planning and Development
Renewable Energy, Sustainability and the Environment
Environmental Science (miscellaneous)
Energy Engineering and Power Technology
Management, Monitoring, Policy and Law

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

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10.3390/su9030476

Cite this

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abstract = "In this paper, we examine a sustainable economic order quantity (S-EOQ) problem with a stochastic lead-time and multi-modal transportation options. With the S-EOQ, decisions of order quantities, as well as a reorder point could be influenced by various factors, including unit price, stock-out cost, lead-time variability and emission costs. For a better understanding, we present a mathematical model of the concomitant S-EOQ problem and, using numerical experiments, explore various scenarios to determine the effects of incorporating sustainability considerations into the traditional inventory model on operational decisions including the choice of transportation modal combination and the sourcing decisions.",

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AU - Yoo, Seung Ho

AU - Cheong, Taesu

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N2 - In this paper, we examine a sustainable economic order quantity (S-EOQ) problem with a stochastic lead-time and multi-modal transportation options. With the S-EOQ, decisions of order quantities, as well as a reorder point could be influenced by various factors, including unit price, stock-out cost, lead-time variability and emission costs. For a better understanding, we present a mathematical model of the concomitant S-EOQ problem and, using numerical experiments, explore various scenarios to determine the effects of incorporating sustainability considerations into the traditional inventory model on operational decisions including the choice of transportation modal combination and the sourcing decisions.

AB - In this paper, we examine a sustainable economic order quantity (S-EOQ) problem with a stochastic lead-time and multi-modal transportation options. With the S-EOQ, decisions of order quantities, as well as a reorder point could be influenced by various factors, including unit price, stock-out cost, lead-time variability and emission costs. For a better understanding, we present a mathematical model of the concomitant S-EOQ problem and, using numerical experiments, explore various scenarios to determine the effects of incorporating sustainability considerations into the traditional inventory model on operational decisions including the choice of transportation modal combination and the sourcing decisions.

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KW - Lead-time uncertainty

KW - Multimodal

KW - Sustainability

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JO - Sustainability (Switzerland)

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ER -

Sustainable EOQ under lead-time uncertainty and multi-modal transport

Abstract

Bibliographical note

Keywords

ASJC Scopus subject areas

UN SDGs

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