An EOQ model with pricing consideration

Edwin Tai Chiu Cheng

doi:10.1016/0360-8352(90)90011-A

An EOQ model with pricing consideration

Edwin Tai Chiu Cheng

Research output: Journal article publication › Journal article › Academic research › peer-review

27 Citations (Scopus)

Abstract

This paper presents an economic order quantity (EOQ) model that integrates the product pricing and order sizing decisions to maximize profit. The Kuhn-Tucker conditions are used to determine the optimal solution under conditions of storage space and inventory investment limitations. The aim of this paper is to explore the effect of relating the pricing and order sizing decisions on the optimal solution. Such a relationship, although it exists in real situations, has long been ignored in the classical EOQ model.

Original language	English
Pages (from-to)	529-534
Number of pages	6
Journal	Computers and Industrial Engineering
Volume	18
Issue number	4
DOIs	https://doi.org/10.1016/0360-8352(90)90011-A
Publication status	Published - 1 Jan 1990
Externally published	Yes

ASJC Scopus subject areas

General Computer Science
General Engineering

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10.1016/0360-8352(90)90011-A

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AB - This paper presents an economic order quantity (EOQ) model that integrates the product pricing and order sizing decisions to maximize profit. The Kuhn-Tucker conditions are used to determine the optimal solution under conditions of storage space and inventory investment limitations. The aim of this paper is to explore the effect of relating the pricing and order sizing decisions on the optimal solution. Such a relationship, although it exists in real situations, has long been ignored in the classical EOQ model.

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An EOQ model with pricing consideration

Abstract

ASJC Scopus subject areas

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