A UNIFIED APPROACH TO THE PRICE‐BREAK ECONOMIC ORDER QUANTITY (EOQ) PROBLEM*

Chandrasekhar Das

20 citations0/0 files storedDecision Sciences

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Supply Chain and Inventory Management Management and Optimization Techniques Operations Management Techniques

Abstract

ABSTRACT In many developing countries where supply is limited, a premium rather than a discounted price is paid for buying in larger amounts. In order for management science/operations research solutions to be relevant to developing economies, such realities need to be explicitly recognized and any decisions evaluated from that perspective. To illustrate this point, a typical inventory‐purchasing problem is solved. In the process, formulae are developed that introduce simultaneous price and quantity sensitivity into the inventory equation. A systematic procedure is suggested to locate the optimal order quantity for a given schedule of discounts or premiums.

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References

1971Industrial Market Structure and Economic Performance.1959The Strategy of Economic Development 2022Price Theory and Applications 1981Purchase-Inventory Decision Models for Inflationary Conditions 1982TOTAL SETUP LOT SIZING WITH QUANTITY DISCOUNTS*1977Evaluating Alternative Quantity Discounts

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1988All‐Units Discounts for Standard Container Sizes 1992All-units quantity-freight discounts with disposals

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