Cárdenas-Barrón (2010) applied algebraic methods to EOQ and EPQ models without referring to differential equations, allowing researchers without backgrounds in calculus to understand inventory models with ease. In this note, we point out that the derivation for EPQ model can be obtained by a transformation of the EOQ model and then we provide a further simplification of his approach such that f...

We consider a continuous-review inventory model for a retailer who faces deterministic demand but whose supplier is unreliable. The supplier experiences “wet” and “dry” (operational and disrupted) periods whose durations are exponentially distributed. The retailer follows an EOQ-like policy during wet periods but may not place orders during dry periods; any demands occurring during dry periods ...

Among the assumptions of the classical economic order quantity (EOQ) model is that all units that are purchased (or produced) are of perfect quality. However, this is frequently unrealistic since production processes deteriorate resulting in the production of defective products requiring rework. Some recent studies suggest that production systems performance might be improved by applying the fi...

As a result to today’s uncertain economy, companies are searching for alternative ways to stay competitive. In which, Company XYZ has been faced with an ineffective forecasting method that has lead to multiple product stock outs. The issue faced has caused sales loss as well as profit loss, which companies can not afford to lose if they want to stay competitive. This project goes through the pr...

This paper deals with the problem of determining the optimal selling price and order quantity simultaneously under EOQ model for deteriorating items. It is assumed that the demand rate depends not only on the on-display stock level but also the selling price per unit, as well as the amount of shelf/display space is limited. We formulate two types of mathematical models to manifest the extended ...

In this paper we consider defective products and Taguchi’s cost of poor quality in the economic order quantity (EOQ) model. We assume that the product quality performs a normal distribution function, and the Taguchi’s poor quality cost has been involved. From our analysis, it has been found that the annual profit will be decreased if the poor quality of product and Taguchi’s quality cost are in...

The application of inventory management in the hotel's Food & Beverage (F&B) division is examined this article. F&B struggles greatly to maintain ideal stock levels while assuring effective operations and lowering costs. department uses a well-known model seeks balance price placing orders with cost maintaining inventory. main ideas Economic Order Quantity (EOQ) are covered article ...

Penelitian ini bertujuan untuk mengetahui apakah perhitungan Economic Order Quantity (EOQ) dapat dijadikan sebagai Pengendalian Persediaan Barang Dagang pada PT. Kimia Farma Apotek Cabang Iskandar Muda. dilakukan dengan membandingkan antara metode pengendalian persediaan menurut kebijakan perusahaan (EOQ). Metode penelitian yang digunakan adalah deskriptif kualitatif. Teknik pengumpulan data wa...

In#ation uncertainty is introduced into a basic EOQ model and its potential to make mischief is explored. Among other things, it is shown that even when the expected rate of in#ation is less than the marginal cost of capital, the appropriate discount rate to use in computing a discounted expected total inventory cost will not necessarily be negative. Therefore, the classic EOQ square-root formu...