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Technical note: Solving inventory models by algebraic method

Xu-Ren Luo and Chih-sheng Chou

International Journal of Production Economics, 2018, vol. 200, issue C, 130-133

Abstract: We consider the open question raised by Chang et al. (2005) to solve the EOQ and EPQ inventory models without referring to calculus. Lau et al. (2016) and Chiu et al. (2017) both extended this open question by deriving criterion for the existence and uniqueness of the interior minimum solution but they used analytical techniques that are related to calculus. Moreover, their derivations are incomplete and contained questionable results. In this note, we only used algebraic approach for their extended open question.

Keywords: Inventory model; Economic order; Production quantity; Shortage (search for similar items in EconPapers)
Date: 2018
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Handle: RePEc:eee:proeco:v:200:y:2018:i:c:p:130-133