Results 171 to 180 of about 9,026 (214)
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Naval Research Logistics, 1988
We explore the properties of the discounted total cost function for the economic order quantity. We show that it is convex. Furthermore, it is shown that the classical economic order quantity (based on Wilson's formula) is not less than the true optimum value based on discounting.
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We explore the properties of the discounted total cost function for the economic order quantity. We show that it is convex. Furthermore, it is shown that the classical economic order quantity (based on Wilson's formula) is not less than the true optimum value based on discounting.
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2006
Despite the criticisms of Woolsey [25] and others, the classical “EOQ” model of Inventory Theory remains useful, both pedagogically and as a stepping-stone towards more realistic variants. Prominent among these are: (a) the one in which stock-outs are permitted but penalized, and (b) the one in which deliveries are gradual (i.e., continuous) rather ...
Beryl E. Castello, Alan J. Goldman
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Despite the criticisms of Woolsey [25] and others, the classical “EOQ” model of Inventory Theory remains useful, both pedagogically and as a stepping-stone towards more realistic variants. Prominent among these are: (a) the one in which stock-outs are permitted but penalized, and (b) the one in which deliveries are gradual (i.e., continuous) rather ...
Beryl E. Castello, Alan J. Goldman
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An EOQ Model with Substitutions Between Products
Journal of the Operational Research Society, 1995Summary: We present an economic order quantity (EOQ) model when two products are required, and one can be substituted for the other, if necessary, at a given unit cost. We consider three cases: (i) when there is no substitution between the products, (ii) when there is full substitution between the products, and (iii) when there is partial substitution ...
Drezner, Zvi +2 more
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A Note on the Sensitivity of the EOQ
IIE Transactions, 1989Abstract We show that results indicating that the EOQ can be very sensitive to errors in the demand forecast are derived from a potentially inconsistent set of assumptions. Depending on the resolution of these inconsistencies, we show that the sensitivity of the EOQ to these forecast errors is generally negligible.
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The discrete-time EOQ model: Solution and implications
European Journal of Operational Research, 2018zbMATH Open Web Interface contents unavailable due to conflicting licenses.
Athanasios G. Lagodimos +3 more
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An EOQ model with backlog-dependent demand
Operational Research, 2016The impact of stockout has been underlined in many consumer studies. According to them, stock-out affects consumers’ purchase decisions and this is especially true on online shopping. In this paper, an inventory model is considered, under the classical EOQ framework, by assuming that shortages affect the customers’ demand. To this end, during shortages
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A note on eoq under fund constraints
Naval Research Logistics Quarterly, 1978AbstractAn algorithm is developed to modify the Wilson Q to account for a short‐term expenditure constraint over a catalog of items. Representative results are shown and generalizations made.
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Investing in Reduced Setups in the EOQ Model
Management Science, 1985This paper is motivated by the observation that the Japanese have devoted much time and energy to decreasing setup costs in their manufacturing processes and that there has been little in the way of a formal framework available to use to think about such efforts. The object of this paper is to begin to provide such a framework. The framework developed
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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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Some Observations on the EOQ Models
Journal of Information and Optimization Sciences, 1988Abstract This paper points out an interesting result relating to the total cost of the optimal policy for several EOQ models used in inventory control analysis. It is observed that the same simple result holds true for all these models.
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