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Estimating Costs in the EOQ Formula
[chapter]
2014
Lecture Notes in Management and Industrial Engineering
Preserved Fulltext
The EOQ formula (Harris, 1913 ) provides a balance between setup costs and holding costs in the system. This formula has been widely developed in the literature. However, in the industrial reality is often difficult to know the exact value of these setup and holding costs. In this paper we develop a formula to estimate the lot size from the known values in the company. It is verified that the behavior of these formulas responds to expectations.
doi:10.1007/978-3-319-04705-8_20
fatcat:zxcsrgwxbzgendq523ttbcaytu