economic order quantity

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Economic order quantity (EOQ)

The order quantity that minimizes total inventory costs.

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.

economic order quantity

see STOCKHOLDING ( INVENTORY) COSTS.
References in periodicals archive ?
El articulo "Optimal inventory policies for profit maximizing EOQ models under various costfunctions", establece y analiza tres modelos EOQ basados en el inventario en virtud de la maximizacion de los beneficios a traves de tecnicas geometricas de programacion (GP) y encuentra un orden optimo de cantidad y precio para cada uno de estos modelos al considerar la produccion (tamano de lote), y la comercializacion de las decisiones (precios).
Given an arbitrary price (and corresponding demand), the retailer's only strategy is to minimize his inventory ordering and holding costs by using the EOQ model.
C, "An EOQ model with deteriorating items under inflation when supplier credits linked to order quantity" International Journal of Production Economics, 2004; Volume 88, Issue 3, 18; Pages 307-316.
They presented an EOQ model for an exponentially decaying inventory.
Buzacott (1975) who discussed EOQ model with inflation subject to different types of pricing policies.
stands for the holding cost of a unit for the rest of the sales season, this expression is equivalent to the holding cost that the standard EOQ model contains.
An EOQ Model for Deteriorating Items Worth Linear Time-Dependent Demand Rate and Shortages Under Inflation and Time Discounting," The Journal of the Operational Research Society, (46:6), June 1995, pp.
Manufacturing companies that use economic order quantity (EOQ) purchasing, either classical EOQ model or a variation thereof, increasingly are faced with the decision of whether or not to switch to the just-in-time (JIT) purchasing policy.
Recall that the approximate value of optimal h is expressed by equation (7) which is similar to the result of EOQ model.
In practice, we can obtain the same results as the EOQ model by a mathematical approach and simulation, whether the set-up cost reduction is stationary or non-stationary.
To use the basic EOQ model, one must make certain assumptions:
Finally, when all the necessary data is available, the system will execute the EOQ model and provide the answer.