The classical optimization techniques are often used to derive and to assert the optimal solution for the well-known inventory models such as the economic order/production quantity (EOQ/EPQ) models. Recently, a new approach, without reference to the use of derivatives but with algebraic derivation, is presented to solve the above deterministic EOQ/EPQ models with/without shortages. To widen the...

Traditionally, inventory management experts have calculated a fixed economic order quantity (EOQ) that minimizes the cost of ordering and keeping stock. Some organizations use fixed maximum and minimum order quantity (MOQ) which ranges around EOQ for stocking various parts. These quantities are ordered at a specific stock level called the reorder point. The reorder point is calculated as the st...

Ford Whitman Harris first presented the familiar economic order quantity (EOQ) model in a paper published in 1913. Even though Harris's original paper was disseminated widely, it apparently was unnoticed for many years before its rediscovery in 1988. During this period much confusion developed over the origin of the EOQ model. This paper explores the early literature on this model and traces th...

In this paper, an EOQ inventory model is depleted not only by time varying demand but also by Weibull distribution deterioration, in which the inventory is permitted to start with shortages and end without shortages. A theory is developed to obtain the optimal solution of the problem; it is then illustrated with the aid of several numerical examples. Moreover, we also assume that the holding co...

The Lambert W function dates back to Euler’s time and despite offering solutions to many operations management problems it is still relatively unknown. This may be due to the fact that it is only incorporated into specialist mathematical software and is not generally available in common spreadsheet applications. This obscurity is rather unfortunate as it is relatively easy to use when the signi...

Penelitian ini bertujuan untuk menentukan banyaknya jumlah pembelian bahan baku tepung sagu yang optimal pada setiap kali pemesanan, kapan waktu tepat melakukan pemesanan kembali (reorder point) sagu, dan berapa total biaya persediaan (total inventory cost) pengadaan di Perusahaan Sohun Cap Mawar dengan menggunakan metode Economic Order Quantity (EOQ). Hasil analisis diperoleh menunjukkan bahwa...

A new type of replenishment policy is suggested in an entropy order quantity model for a perishable product possessing fuzzy holding cost and fuzzy disposal cost. This model represents an appropriate combination of two component demand with discounted selling price, particularly over a finite time horizon. Its main aim lies in the need for an entropic cost of the cycle time is a key feature of ...

Deciding shipment size is important in freight transport: it depends on the logistical imperatives of shippers and the technical possibilities of carriers. Shipment size choice is also closely related to transportation mode; it is therefore important from a public policy perspective. The theory of optimal shipment size and mode choice is robust. There are many inventory-theoretical models of op...