Abstract
Introduces the functions of inventories and various costs relevant for inventory management. The Economic Order Quantity (EOQ) model with deterministic demand and lead-time is discussed and basic derivations of the model are presented. Sensitivity of cost to various parameters of the model is discussed. Finally, the EOQ model with back orders or shortages is discussed and basic derivations of this model are presented.
Additional Information
| Product Type | Technical Note |
|---|---|
| Reference No. | PROD0175(A)TEC |
| Title | Basic Inventory Models (Part I): Economic Order Quantity (EOQ) Models |
| Pages | 11 |
| Published on | Jan 1, 1982 |
| Authors | Shukla, P R; |
| Area | Production Management (PROD) |
| Discipline | Operations Management, Quantitative Methods |
| Sector | Miscellaneous |
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