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2005•Journal of Shanghai, Maritime UniversityRequires access

Expansion and application of economic order quantity model

Dong Li-hua

Open publisher page 1 citations

Abstract

From the standpoint of interests of both the enterprises and suppliers, the economic order quantity ( EOQ) model is improved to meet the requirement of order cost reduction by considering various kinds of expenses of both sides. In practical application,the unit-storage-expense of both sides has been transformed flexibly. Finally,one case is used to demonstrate the new order strategy. The Spreadsheet method is applied to build the model, compute the cost and make further discussion about the results.

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What this paper is about

From the standpoint of interests of both the enterprises and suppliers, the economic order quantity ( EOQ) model is improved to meet the requirement of order cost reduction by considering various kinds of expenses of both sides. In practical application,the unit-storage-expense of both sides has been transformed flexibly. Finally,one case is used to demonstrate the new order strategy. The Spreadsheet method is applied to build the model, compute the cost and make further discussion about the results.

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Available abstract

From the standpoint of interests of both the enterprises and suppliers, the economic order quantity ( EOQ) model is improved to meet the requirement of order cost reduction by considering various kinds of expenses of both sides. In practical application,the unit-storage-expense of both sides has been transformed flexibly. Finally,one case is used to demonstrate the new order strategy. The Spreadsheet method is applied to build the model, compute the cost and make further discussion about the results.

Key concepts: Economic order quantity, Order (exchange), Unit (ring theory), Computer science, Reduction (mathematics), Operations research, Cost reduction, Economic model

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