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Industrial Mathematics Final Year Topic: Cost Sensitivity in an Economic-Order Model with Permitted Backorders

This Industrial Mathematics final year project examines how a stated shortage-cost assumption changes an idealised ordering policy.

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Why choose this project topic?

A focused study of inventory backorders gives you a specific question in inventory mathematics. It examines how a stated shortage-cost assumption changes an idealised ordering policy. The bounded comparison creates room to explain how your evidence supports an interpretation and where the method has limits.

How does the backorder-cost parameter affect the optimal order and shortage quantities in a deterministic inventory model?

Agree the apparatus or dataset, comparison range and feasible measurement schedule for inventory backorders with your supervisor.

Proposed project objectives

  1. 01Define the materials, variables and comparison conditions for inventory backorders.
  2. 02State demand, replenishment and cost assumptions with consistent units.
  3. 03Evaluate the measurements or model outputs in relation to this question: How does the backorder-cost parameter affect the optimal order and shortage quantities in a deterministic inventory model?

A suggested research approach

State demand, replenishment and cost assumptions with consistent units. Derive the model's optimum and feasibility conditions, then compare sensitivity across a justified synthetic parameter range. Agree the available resources and record uncertainty, deviations from the protocol and any observations that challenge the initial interpretation.

What you will need

  • A transparent synthetic inventory-cost scenario
  • Inventory-optimisation references
  • Symbolic derivations and sensitivity calculations

Keep your project scope clear

Deterministic steady demand and fully backordered shortages may not describe actual customer behaviour or supply interruptions.

Industrial Mathematics project chapter outline

Use this outline as a starting point. You can edit the chapter titles to match your department’s format during setup.

  1. Chapter 1Introduction
  2. Chapter 2Literature Review
  3. Chapter 3Theory and Methodology
  4. Chapter 4Results and Applications
  5. Chapter 5Summary, Conclusion and Recommendations

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