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| Author: | Yu, G. |
| Title: | Robust economic order quantity models |
| Journal: | European Journal of Operational Research
1997 : AUG 1, VOL. 100:3, p. 482-493 |
| Index terms: | OPERATIONAL RESEARCH QUANTITY MODELS |
| Language: | eng |
| Abstract: | In this paper, the author studies the classical economic order quantity (EOQ) model under significant uncertainties. In particular, the problem under consideration is the economic order quantity model with the input data of the demand rate, the order cost, and the holding cost rate being uncertain. A robustness approach based on scenario characterization of the input data is adopted to describe the uncertainties. The aim of the approach is to find an inventory policy that performs well under all realizable input data scenarios. |
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