We consider the finite-horizon discrete-time economic order quantity problem. Kovalev and Ng (2008) have developed a solution approach for solving this problem. Their approach requires a search for the optimal number of orders, which takes O (log n) time. In this note, we present a modified solution method, which can determine the optimal solution without the need of such a search.
- Combinatorial optimization
- Inventory management
ASJC Scopus subject areas
- Management Science and Operations Research
- Modelling and Simulation
- Information Systems and Management