EOQ


Also found in: Dictionary, Acronyms, Encyclopedia, Wikipedia.

EOQ

Economic Order Quantity

The number of orders a brokerage receives and must fill that minimizes its obligation to keep inventory. The economic order quantity reduces the brokerage's costs to the least possible level.
Mentioned in ?
References in periodicals archive ?
Thus, according to the results of Table 5, applying "EOQ" model of the most favorable economic order of an optimal production and inventory control increase yields and reduce the cost of production and the research hypothesis is confirmed.
Chang, "An EOQ model with deteriorating items under inflation when supplier credits linked to order quantity," International Journal of Production Economics, vol.
Assuming a known and stationary demand curve along with the remaining conditions of the EOQ model, Arcelus et al (1987, page 173) asserted: "given constant marginal costs of holding and purchasing the goods, the firm will want to maintain the same price throughout the year".
Certainly Boeing could add aircraft beyond the EOQ to its KC-46A production line and offer a cost-efficient option to a commercial contractor.
ESW plays the same role for economic order quantity (EOQ) in inventory models (Higginson, Bookbinder 1994).
Over the years, researchers have spent considerable time and effort in researching various aspects of EOQ policy and its applicability under varying conditions for deterministic demand and probabilistic demand, for fixed price of product to a price that varies with quantity ordered (volume discounts), inflation effect on prices, for perishable vs.
What is the production set up costs based upon the EOQ model?
Calmuk said that he would inform European officials on "media ethics and quality" at the 54th EOQ Annual Congress.
Right from one the most basic models of lotsizing, popularly known as the EOQ model developed by (Harris, 1913) to the models which are closer to real life applications, viz.
Whereas the principal tradeoff found with the application of the EOQ model was inventory holding versus ordering cost, the Inventory Theoretic was inventory holding (both as cycle, safety, and in-transit) versus transportation cost.