3 Formulation of single objective EOQ model
with limited storage capacity
When lead time is 2 days model actually becomes EOQ model
Chung, "The 'EOQ model
with defective items and partially permissible delay in payments linked to order quantity derived analytically in the supply chain management," Applied Mathematical Modelling, vol.
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).
Some notable aspects related to EOQ model
with stock and price sensitive demand was explored by Mo et al.
Regardless of its simplicity, the EOQ model
is still applied industry-wide today.
Whitin's (1955) model would adhere to all the assumptions of the EOQ model
stated above, except that demand is price sensitive, with a known and stationary demand curve, a retailer's optimal strategy would be, once again, to buy a fixed quantity for every inventory cycle and to sell it at a single price.
Limiting conditions inherent in the traditional EOQ model
give opportunity for several other inventory models which are published in some Journals ,.
A cash flow oriented EOQ model
under permissible delay in payments.
* determine production setup costs based on the EOQ model