The Economic Order Quantity (EOQ) is the number of units that a company should add to inventory with each order to minimize the total costs of inventory—such as holding costs, order costs, and ...

In this note, an algorithm previously introduced by B. Lev and H. Weiss to optimally solve the finite horizon EOQ model with price changes is modified to avoid infeasible solutions. An example is ...

Small businesses require an efficient inventory system to maximize profit. The Economic Order Quantity model is a commonly used element of a continuous review inventory system. It is based on a ...

Michael Boyle is an experienced financial professional with more than 10 years working with financial planning, derivatives, equities, fixed income, project management, and analytics. Economic order ...

The standard EOQ assumes that demand is steady and deliveries arrive on time. The new model is more realistic and recognizes that demand and supply can vary from day to day. In their model, each day's ...