Handbook of EOQ Inventory Problems by Tsan-Ming Choi

Author:Tsan-Ming Choi
Language: eng
Format: epub
Publisher: Springer US, Boston, MA

5 Conclusions

Within the framework of a multi-criteria decision-making extension of the EOQ model, in this chapter it has been shown that there is no single answer to the issue whether economic and environmental (sustainability) performance are aligned or conflicting. In fact both can be the case, and which one applies is a matter of perspective. Indeed careful analysis is needed in every problem setting to see which of the two situations applies under what conditions.

The research presented in this chapter can be extended in multiple ways. First, this research can be extended within the EOQ modelling context by (a) incorporating the effect of organisation’s sustainability strategic choice on customer demand; (b) including the social/people aspects of sustainability in the model; (c) including other environmental factors (instead of energy factor) in the model; (d) considering other types of deterministic and stochastic inventory models that exist within operations, logistics and supply chain literature, cf. Benjaafar and Daskin (2010). Second, this research can be extended within the sustainability context, by studying the trade-off and synergy behaviour of the triple bottom line measures within the setting of quality, speed, dependability and flexibility.

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