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A modified method to compute economic order quantities without derivatives by cost-difference comparisons

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  • Wee, Hui-Ming
  • Wang, Wan-Tsu
  • Chung, Chun-Jen

Abstract

This note presents a modified method to compute economic order quantities without derivatives by cost-difference comparisons. Extensions to allow backorders are done for the EOQ/EPQ models. In contrast to previous literatures, limiting values on a finite planning horizon are used rather than algebraic manipulations for the cost function comparisons.

Suggested Citation

  • Wee, Hui-Ming & Wang, Wan-Tsu & Chung, Chun-Jen, 2009. "A modified method to compute economic order quantities without derivatives by cost-difference comparisons," European Journal of Operational Research, Elsevier, vol. 194(1), pages 336-338, April.
    • Handle: RePEc:eee:ejores:v:194:y:2009:i:1:p:336-338
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    References listed on IDEAS

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    1. Jason Chang, S.K. & Chuang, Jones P.C. & Chen, Hsiao-Jung, 2005. "Short comments on technical note--The EOQ and EPQ models with shortages derived without derivatives," International Journal of Production Economics, Elsevier, vol. 97(2), pages 241-243, August.
    2. Wee, Hui Ming & Chung, Chun Jen, 2007. "A note on the economic lot size of the integrated vendor-buyer inventory system derived without derivatives," European Journal of Operational Research, Elsevier, vol. 177(2), pages 1289-1293, March.
    3. Ronald, Robert & Yang, Gino K. & Chu, Peter, 2004. "Technical note: The EOQ and EPQ models with shortages derived without derivatives," International Journal of Production Economics, Elsevier, vol. 92(2), pages 197-200, November.
    4. Cardenas-Barron, Leopoldo Eduardo, 2001. "The economic production quantity (EPQ) with shortage derived algebraically," International Journal of Production Economics, Elsevier, vol. 70(3), pages 289-292, April.
    5. Minner, Stefan, 2007. "A note on how to compute economic order quantities without derivatives by cost comparisons," International Journal of Production Economics, Elsevier, vol. 105(1), pages 293-296, January.
    6. Chung, Chun Jen & Wee, Hui Ming, 2007. "Optimizing the economic lot size of a three-stage supply chain with backordering derived without derivatives," European Journal of Operational Research, Elsevier, vol. 183(2), pages 933-943, December.
    7. Grubbstrom, Robert W. & Erdem, Asli, 1999. "The EOQ with backlogging derived without derivatives," International Journal of Production Economics, Elsevier, vol. 59(1-3), pages 529-530, March.
    8. Sphicas, Georghios P., 2006. "EOQ and EPQ with linear and fixed backorder costs: Two cases identified and models analyzed without calculus," International Journal of Production Economics, Elsevier, vol. 100(1), pages 59-64, March.
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    Cited by:

    1. Leung, Kit-Nam Francis, 2010. "Some comments on "A simple method to compute economic order quantities"," European Journal of Operational Research, Elsevier, vol. 201(3), pages 960-961, March.
    2. Chang, Hung-Chi & Ho, Chia-Huei, 2010. "Exact closed-form solutions for "optimal inventory model for items with imperfect quality and shortage backordering"," Omega, Elsevier, vol. 38(3-4), pages 233-237, June.
    3. Teng, Jinn-Tsair, 2009. "A simple method to compute economic order quantities," European Journal of Operational Research, Elsevier, vol. 198(1), pages 351-353, October.
    4. Chang, Horng-Jinh & Lin, Wen-Feng & Ho, Jow-Fei, 2011. "Closed-form solutions for Wee's and Martin's EOQ models with a temporary price discount," International Journal of Production Economics, Elsevier, vol. 131(2), pages 528-534, June.

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