By Topic

Economic Order and Surplus Quantities Model

Sign In

Cookies must be enabled to login.After enabling cookies , please use refresh or reload or ctrl+f5 on the browser for the login options.

Formats Non-Member Member
$31 $31
Learn how you can qualify for the best price for this item!
Become an IEEE Member or Subscribe to
IEEE Xplore for exclusive pricing!
close button

puzzle piece

IEEE membership options for an individual and IEEE Xplore subscriptions for an organization offer the most affordable access to essential journal articles, conference papers, standards, eBooks, and eLearning courses.

Learn more about:

IEEE membership

IEEE Xplore subscriptions

1 Author(s)
El Agizy, M.N. ; Exxon Corporation, P.O. Box 153, Florham Park, New Jersey 07932, USA

A standard mathematical model for inventory management is known as the Economic Order Quantity (EOQ) model. In this communication the EOQ model is extended to include the possibility of determining how much, if any, excess stock should be sold at the beginning of a decision period. The new model is of practical importance for situations in which a formal inventory management system is to be instituted while substantial inventories exist or when changes in demand, ordering costs, or carrying and interest charges require recomputation of the economic order quantity.

Note: The Institute of Electrical and Electronics Engineers, Incorporated is distributing this Article with permission of the International Business Machines Corporation (IBM) who is the exclusive owner. The recipient of this Article may not assign, sublicense, lease, rent or otherwise transfer, reproduce, prepare derivative works, publicly display or perform, or distribute the Article.  

Published in:

IBM Journal of Research and Development  (Volume:18 ,  Issue: 1 )