Temporary price discounts and EOQ
, Journal of Purchasing and Materials Management, 17(4), 23-27
To begin with, it is important to note that EOQ
applies only to those situations where the following conditions hold:
Philip, A generalized EOQ
model for items with weibull distribution, AIIE Transactions, 6(1974), 159-162.
Chang (2004), An EOQ
model with deteriorating items under inflation when supplier credits linked to order quantity, International Journal of Production Economics, 88, 3, 307-316
It is well known that the EOQ
model is not highly sensitive to variations in the lot size.
Even though the effect of the IHC upon the EOQ
is smoothed by taking its square root (Equation 2), nothing smoothes out its impact when it is drastically underestimated and applied to an unnecessary excess of inventory.
Similar to EOQ
techniques, lot-sizing techniques focus on balancing order costs and holding costs.
To examine the effect of eating problems, race, and BMI on the EOQ
, the GLM Analysis of Variance was again used (Table 5).
According to the EOQ
model, a manufacturer places several orders to its suppliers every year, with the size of each order (order quantity) being enough to satisfy the production demand for a certain period of time.
But calculating an EOQ
involves a complicated algebraic equation.
Types of statistical/probabilistic approach have included cluster analysis, a stochastic EOQ
model (as part of a system for purchasing items for large projects) and augmentation of the linear weighting method with probabilities.
1994), "Quality metrics of the future", EOQ
94, Lisbon, Portugal.