A Variant Deterministic Model of Classical EOQ Formula

Inventory management and transportation have been the principal areas of focus in industrial engineering and management for a long time.Inventory management attracts considerable attention in logistics and supply chain management today because new supply chain models have become more integrative and complex.New market forces have introduced many complex elements which affect the performance of the supply chain in general and inventory level in particular.Inventory decisions are high risk and high impact for supply chain management.Hence, this paper compiles all the derivations of classical deterministic lot size economic order quantity models and proposes a new method to verify the formula.