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Economic order quantity for growing items
International Journal of Production Economics, 2014Abstract Economic order/production quantity (EOQ/EPQ) models have generally been presented for manufacturing products. Incorporating some important features of a specific category of products, different EOQ/EPQ models have been proposed in literature. This study proposes a new class of inventory models, i.e.
Jafar Rezaei
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Economic production order quantity and quality
International Journal of Production Research, 2011The purpose of this study is to integrate a conventional production-inventory management approach and a process-quality design approach so as to promote quality and reduce costs. Because the integration of these two approaches into a single system is conducted under the influence of a deterioration process, estimated costs of production must be ...
Angus Jeang
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Economic order quantities and inflation
International Journal of Production Research, 1985This paper addresses the inventory control problem of determining economic order quantities during inflation. A simple average annual cost model is constructed for which a closed-form solution is found. The solutions thus generated arc then compared with the optimal solutions to a ‘theoretically correct’ model whose objective is to minimize the ...
JOHN J. KANET, JAMES A. MILES
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SSRN Electronic Journal, 2019
In stock management, Economic Order Quantity (EOQ) is an important inventory management system that demonstrates the quantity of an item to reduce the total cost of both handling of inventory (Handling Cost) and order processing (Ordering Cost). The purpose of determining the EOQ is to minimise the Total Incremental Cost (TIC), beyond the cost of ...
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In stock management, Economic Order Quantity (EOQ) is an important inventory management system that demonstrates the quantity of an item to reduce the total cost of both handling of inventory (Handling Cost) and order processing (Ordering Cost). The purpose of determining the EOQ is to minimise the Total Incremental Cost (TIC), beyond the cost of ...
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Economic Order and Surplus Quantities Model
IBM Journal of Research and Development, 1974A standard mathematical model for inventory management is known as the Economic Order Quantity (EOQ) model. In this communication the EOQ model is extended to include the possibility of determining how much, if any, excess stock should be sold at the beginning of a decision period.
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Economic order quantities with discounting
Engineering Costs and Production Economics, 1987Abstract The economic order model is reformulated to account for positive discounting and an unending planning horizon. The approximation properties of the conventional “economic order” rule are evaluated and confirm, in an intertemporally consistent setting, the results of Hadley [1].
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