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Operations Management: Sustainability and Supply Chain Management, Twelfth Edition
book

Operations Management: Sustainability and Supply Chain Management, Twelfth Edition

by Jay Heizer, Barry Render, Chuck Munson
February 2016
Intermediate to advanced content levelIntermediate to advanced
480 pages
219h 58m
English
Pearson
Content preview from Operations Management: Sustainability and Supply Chain Management, Twelfth Edition

Inventory Models for Independent Demand

In this section, we introduce three inventory models that address two important questions: when to order and how much to order. These independent demand models are:

  1. Basic economic order quantity (EOQ) model

  2. Production order quantity model

  3. Quantity discount model

The Basic Economic Order Quantity (EOQ) Model

The economic order quantity (EOQ) model is one of the most commonly used inventory-control techniques. This technique is relatively easy to use but is based on several assumptions:

  1. Demand for an item is known, reasonably constant, and independent of decisions for other items. ...

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Publisher Resources

ISBN: 9780134422404