economic order quantity

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economic order quantity

[‚ek·ə′näm·ik ′ȯr·dər ‚kwän·ə·dē]
(industrial engineering)
The number of orders required to fulfill the economic lot size.
References in periodicals archive ?
Considering this demand proportion in the EOQ model, the total inventory cost at higher-level facilities is
Philip, "An EOQ model for items with weibull distribution deterioration," AIIE Transaction, vol.
Ferguson et al; "An application of the EOQ model with nonlinear holding cost to inventory management of perishables".
The more fundamental question of the relative costs and benefits of an EOQ model and a JIT model remain outside the ambit of such a simulation.
1990, Joint lot sizing and inspection policy in an EOQ model with random yield.
Assuming a known and stationary demand curve along with the remaining conditions of the EOQ model, Arcelus et al (1987, page 173) asserted: "given constant marginal costs of holding and purchasing the goods, the firm will want to maintain the same price throughout the year".
Using the principles of the classical EOQ model, the following assumptions are made:
The number of production set ups based on the EOQ model for each product is: Product A (4.
Right from one the most basic models of lotsizing, popularly known as the EOQ model developed by (Harris, 1913) to the models which are closer to real life applications, viz.
Whereas the principal tradeoff found with the application of the EOQ model was inventory holding versus ordering cost, the Inventory Theoretic was inventory holding (both as cycle, safety, and in-transit) versus transportation cost.
A fuzzy EOQ model with demand-dependent unit cost under limited storage capacity, European Journal of Operational Research, Vol.
Stockton and Quinn (1993) establish the basic EOQ model using Genetic Algorithms to solve economic lot size.