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| Author: | Carlson, M. L. Rousseau, J. J. |
| Title: | EOQ under date-terms supplier credit |
| Journal: | Journal of the Operational Research Society
1989 : MAY, VOL. 40:5, p. 451-460 |
| Index terms: | INVENTORY CONTROL MICROPROCESSORS INDUSTRY QUANTITY DECISION MODELS |
| Language: | eng |
| Abstract: | Distinguishing between holding costs with different time-frames is shown to force a fundamental change in the structure of analysis. Economic order quantity can no longer be expressed as a formula but must be found by a search procedure. Although a solution-by-search procedure holds the potential of being unduly cumbersome, it is shown that under certain reasonable assumptions the possibilities are limited to a well-defined range of discrete order quantities which encompasses the classical economic order quantity, and the search procedure can be easily performed on a microcomputer. The analysis differs from the classical model, which ignores the supplier-credit term entirely. |
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