2010•Journal of Changchun Normal UniversityRequires access

Mathematical Model of Inventory Economic Order Quantity

Rongfeng Zhang

Abstract

This paper mainly discusses the storage model of order quantity under the condition of quantity discount,goods shortage permission or not allowing goods shortage,in order to make the model closer to actual condition.The mathematical method is used to solve the model,thus the optimum order batch,the optimal order cycle,and the average minimum total cost each day are determined.

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Available abstract

Key concepts: Economic order quantity, Economic shortage, Order (exchange), Economic model, Permission, Total cost, Operations research, Economics