2003•Journal of Information and Optimization SciencesRequires access
A probabilistic approach for traditional EOQ model
Ying‐Chieh Chen
Open publisher page 14 citations
Abstract
The purpose of this article is to reconstruct the traditional EOQ model by considering the total demand is random. It can be shown that the result of this model is equivalent to the traditional ones. And finally, we find, that the economic order quantity (EOQ) should be reinterpreted as expected economic order quantity (EEOQ).