EOQ extensions exploiting the Lambert W function
by Roger D.H. Warburton
European J. of Industrial Engineering (EJIE), Vol. 3, No. 1, 2009

Abstract: We analyse several extensions to the Economic Order Quantity (EOQ) model: when the inventory deteriorates over time; when the demand contains a stock dependent term; and when the present value, or discounted cost, is included. We derive exact analytical expressions for the order that minimises the total cost, and in each case the Lambert W function arises, adding to the growing list of useful applications for this recently rediscovered function. The analytical solutions have immediate practical and pedagogic applications. [Received 06 September 2007; Revised 13 January 2008; Accepted 01 April 2008]

Online publication date: Sun, 30-Nov-2008

The full text of this article is only available to individual subscribers or to users at subscribing institutions.

 
Existing subscribers:
Go to Inderscience Online Journals to access the Full Text of this article.

Pay per view:
If you are not a subscriber and you just want to read the full contents of this article, buy online access here.

Complimentary Subscribers, Editors or Members of the Editorial Board of the European J. of Industrial Engineering (EJIE):
Login with your Inderscience username and password:

Username:        Password:          Forgotten your password?

Want to subscribe?
A subscription gives you complete access to all articles in the current issue, as well as to all articles in the previous three years (where applicable). See our Orders page to subscribe.

If you still need assistance, please email subs@inderscience.com