economic order quantity

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Economic order quantity (EOQ)

The order quantity that minimizes total inventory costs.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

economic order quantity

see STOCKHOLDING ( INVENTORY) COSTS.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
References in periodicals archive ?
(1991) An economic order quantity model with demand-dependent unit production cost and imperfect production process, IIE Transactions.
Trevino-Garza, "Celebrating a century of the economic order quantity model in honor of Ford Whitman Harris," International Journal of Production Economics, vol.
Weiss, "Economic order quantity models with nonlinear holding costs," European Journal of Operational Research, vol.
Kumar, "Economic order quantity model on inflationary conditions with demand influenced by innovation diffusion criterion," International Journal of Procurement Management, vol.
In the area of operation management research, mainly from the angle of cash flow and logistics coordination, based on the traditional economic order quantity model framework, weigh the cost of capital cost elements such as fixed ordering cost, storage cost, and profit (or other elements), to analyze the supply chain inventory control and coordination problems.
Mitra et al [13] presented a simple procedure for adjusting the economic order quantity model for the case of increasing or decreasing linear trend in demand.
[7] Weiss, H.J., 1982, Economic Order Quantity models with nonlinear holding cost, European Journal of Operational Research, 9, 56-60.
[20] built a multi-item economic order quantity model with shortage under vendor-managed inventory policy in a single vendor single buyer supply chain; they proposed a new modeling to the fuzzy VMI problem with multi-items and shortage and employed three metaheuristic algorithms (ACA, GA, and DE) to solve a FNIP problem.
[36] studied an economic order quantity model for deteriorating items when the supplier offers cash discount and permissible delay in payment to the retailer (two-part trade credit).

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