Economic order quantities and inflation

John J. Kanet, James A. Miles

Research output: Contribution to journalArticle

3 Scopus citations

Abstract

This palxr ddresscs the inventory control problem of determining economic order quantities during inflation. A simple average annual cost ndel is constructed for which a closed-form solution is found. The solutions thus generntcd are then compared with the optimal solutians to n 'theoretically correct' model whose objective is to minlmize the discounted sum of all future posts. An eal-sustivosenvitivitya nalysisshows thesimple closed-form nulutiun to compnR fnvournhly with the minimum discounted cost solution over n wide mnge of problem pnmmetem.

Original languageEnglish (US)
Pages (from-to)597-608
Number of pages12
JournalInternational Journal of Production Research
Volume23
Issue number3
DOIs
StatePublished - Jan 1 1985

All Science Journal Classification (ASJC) codes

  • Strategy and Management
  • Management Science and Operations Research
  • Industrial and Manufacturing Engineering

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