Generalized inventory models of EOQ type and their implementation in Mathematica

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F49777513%3A23510%2F16%3A43927172" target="_blank" >RIV/49777513:23510/16:43927172 - isvavai.cz</a>
Result on the web
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DOI - Digital Object Identifier
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Result language
angličtina
Original language name
Generalized inventory models of EOQ type and their implementation in Mathematica
Original language description
The paper deals with generalized inventory control models which are linked to the well-known EOQ model. We present models assuming another than constant rate of demand within an inventory cycle. The demand rate takes polynomial form which is specified by particular interpolation conditions. These conditions give a chance to include various intermediate data to describe inventory level during the cycle in detail. Optimal replenishment lot size and optimal total cost per unit of time yielded from these models with different interpolating conditions are compared with similar quantities provided by classical EOQ model. Second, we discuss another model which allows both stock dependent demand rate and holding cost, which also allows deteriorating items under inventory to accept. This model uses maximization of an objective function on opposite to EOQ type models. We use Mathematica not only for numerical calculations but also for symbolic derivation of analytic formulae specific for models discussed.
Czech name
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Czech description
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Project
<a href="/en/project/GA15-20405S" target="_blank" >GA15-20405S: Modelling of processes on financial markets and prediction of firm default by real options</a><br>
Continuities
P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)

Publication year
2016
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

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