The Economic Order Quantity (EOQ) model is a classical model used for controlling inventory and satisfying demand.
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uppose we relax the first assumption and allow for multiple items which are independent except for a budget restriction. The following model describes this situation:
Related Book For
Essentials of Business Analytics
ISBN: 978-1285187273
1st edition
Authors: Jeffrey Camm, James Cochran, Michael Fry, Jeffrey Ohlmann, David Anderson, Dennis Sweeney, Thomas Williams
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