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EOQ, EBS for higher management
Engineering Management, 2004Concepts such as the economic order quantity (EOQ) and the economic batch size (EBS) may appear to be of limited relevance to senior management. However senior management should pay attention to these stock management concepts because of their continued impact on working capital, production levels and return on investment.
Lee, B., Bowhill, Bruce
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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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2013
When Ford W. Harris published his short three-page article developing the Economic Order Quantity (EOQ) model in 1913, he likely did not foresee that it would still be discussed and used 100 years later. Harris’ EOQ model was one of the first applications of mathematical modeling to guide managers in making business decisions, and it has spawned ...
Matthew J. Drake, Kathryn A. Marley
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When Ford W. Harris published his short three-page article developing the Economic Order Quantity (EOQ) model in 1913, he likely did not foresee that it would still be discussed and used 100 years later. Harris’ EOQ model was one of the first applications of mathematical modeling to guide managers in making business decisions, and it has spawned ...
Matthew J. Drake, Kathryn A. Marley
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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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The EOQ model – A dynamical system
Applied Mathematics and Computation, 2012zbMATH Open Web Interface contents unavailable due to conflicting licenses.
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A Technical Aid for EOQ Determination
American Journal of Small Business, 1983This article presents a procedure and nomograph which can be used in making economic order quantity (EOQ) decisions. The benefits from using the procedure and nomograph are a reduction in the amount of data needed and the very rapid determination of the EOQ.
Jerry Banks, Russell G. Heikes
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An EOQ Model for Items having Fuzzy Amelioration and Deterioration
Applied Mathematics & Information Sciences, 2022semanticscholar +1 more source
Investing in carbon emissions reduction in the EOQ model
Journal of the Operational Research Society, 2019Investment in carbon emissions reduction is an important decision for many firms due to climate change and growing pressures from various stakeholders. In this paper, we examine the problem of jointly determining optimal order quantity and investment in ...
Jun-Yeon Lee
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EOQ with independent endogenous supply disruptions
Omega, 2019Abstract We consider an inventory installation, controlled by the periodic review base stock (S, T) policy and facing a fixed-rate deterministic demand which, if unsatisfied, is backordered. The supply process is unreliable, so supply deliveries may fail according to an independent Bernoulli process; we refer to such failures reflecting the supply ...
I. Konstantaras +2 more
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