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Topic: Economic order quantity

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	Economic Order Quantity (EOQ)
		The EOQ is used as part of a continuous review inventory system, in which the level of inventory is monitored at all times, and a fixed quantity is ordered each time the inventory level reaches a specific reorder point.
		The EOQ model assumes that demand is constant, and that inventory is depleted at a fixed rate until it reaches zero.
		The total order cost per year is S multiplied by the number of orders per year, which is equal to the annual demand divided by the number of orders, or D/Q. Finally, PD is constant, regardless of the order quantity.
	referenceforbusiness.com /small/Di-Eq/Economic-Order-Quantity-EOQ.html (795 words)

	Economic order quantity - Wikipedia, the free encyclopedia
		Economic Order Quantity (also known as the Wilson EOQ Model or simply the EOQ Model) is a model that defines the optimal quantity to order that minimizes total variable costs required to order and hold inventory.
		The model was originally developed by F. Harris in 1915, though R. Wilson is credited for his early in-depth analysis of the model.
		Additionally, the economic order interval can be determined from the EOQ and the economic production quantity model (which determines the optimal production quantity) can be determined in a similar fashion.
	en.wikipedia.org /wiki/Economic_order_quantity (324 words)

	Economic order quantity EOQ
		The economic order quantity, denoted by Q, is that value at which the total cost of both ordering* and carrying will be minimized.
		For order quantity Q to become EOQ the total ordering costs at Q should be equal to the total carrying costs.
		EOQ = Q* PC In the above formula, when `U' is considered as the annual usage of material, the value of Q* indicates the size of the order to be placed for the material, which minimizes the total inventory-related costs.
	www.azinventorymanagement.com /economic-order-quantity.htm (606 words)

	Economic Order Quantity
		Economic order quantity is the number of units per order at which total inventory cost is minimized as shown in the following equation.
		Ordering costs are estimated to be $70 per order.
		I would you recommend in favor of the 1,000-unit order quantity because the cost increase is minimal for a range of quantities around the EOQ level and the adjusted quantity probably makes more sense for the additional cost of only $2.28..
	fozzy.wvstateu.edu /~lewis/handouts/eoq.html (1200 words)

	Optimizing Economic Order Quantity EOQ
		EOQ is essentially an accounting formula that determines the point at which the combination of order costs and inventory carrying costs are the least.
		EOQ is used to determine which components fit into this JIT model and what level of JIT is economically advantageous for your operation.
		These costs are not associated with the quantity ordered but primarily with physical activities required to process the order.
	www.inventoryops.com /economic_order_quantity.htm (3228 words)

	DeGarmo - Chapter 41 (Site not responding. Last check: 2007-10-24)
		In this exercise the order quantity, q for the next time period is to be specified.
		The order quantity for the next time period is to be specified as a percent change from the economic order quantity, Q, for the current time period, taking into account the trends in costs and demand and the variability in demand.
		The difference between the economic order quantity and the specified order quantity is called "Delta." Delta for each time period, the cumulative value over time and the average value of Delta is displayed.
	www.menet.umn.edu /degarmo/Chapter41/orderquantity.html (271 words)

	Economic Order Quantity \| Ask MetaFilter (Site not responding. Last check: 2007-10-24)
		EOQ should only be applied to higher volume items that are worth inventorying; it's much safer to use VMI (Vendor Managed Inventory) for items like bolts and screws that have a high volume and aren't worth inventorying.
		I wouldn't use EOQ to order memory chips for a retail computer store, because demand can vary greatly and the risk that they'll become obsolete is high.
		EOQ sounds like it's a good match for your organization in some cases, but you're going to need to be careful with it due to the project-oriented nature of companies these days.
	ask.metafilter.com /mefi/25611 (907 words)

	Economic Order Quantity
		It estimates that this year's cost per order will be 10 percent less than last year's order cost due to a new transaction processing system.
		Last year's cost per order is estimated to be $14.
		A manufacturing firm has determined that the EOQ amount is 275 units, the daily demand is 40 units, and the lead time to reorder is usually four days but can be as long as six days.
	www.lasalle.edu /~borkowsk/ConvCyclePROBLEMS.htm (167 words)

	[No title]
		She operates 300 days per year, and has found that an order must be placed with her supplier 6 working days before she can expect to receive that order.
		Ordering cost is $50, and annual holding cost per unit is $5.
		Annual usage is 2,400 valves; order cost is $10 per order; and annual inventory holding costs are $3.33 per unit.
	pages.stern.nyu.edu /~djuran/pract-inv.doc (478 words)

	Economic Order Quantity (Site not responding. Last check: 2007-10-24)
		The county is seeking additional funding to repair the county railroad in order to support the economic infrastructure and boost economic development opportunities in the county.
		PUCO Publications Available for Order The PUCO produces numerous brochures and utility-related fact sheets that inform Ohio's utility customers of their rights, responsibilities, and opportunities in today’s choice-driven utility environment. The PUCO is pleased to make these brochures easily available to you and your organization by offering bulk copies of our publications.
		Please specify the name(s) and quantity of the of the publication(s) you are...
	economicorderquantity.scopeconomic.com (1438 words)

	Economic Order Quantity (Site not responding. Last check: 2007-10-24)
		Economic Order Quantity (EOQ) is used to determine how much to order...
		The Economic Order Quantity (EOQ), as it is known in purchasing, is...
		Economic order quantity is the optimum number of stock per order that will reduce inventory costs...
	leanmanufacturing.matemanufacturing.com /economicorderquantity (649 words)

	OhioLINK ETD: Parthasarathy, Meghana
		The classic EOQ model was altered to explicitly include the operating costs at the warehouse and the transportation costs and this, accounts for multiple SKUs and multiple unit loads.
		This modified EOQ model is referred to as the Economic Order Frequency (EOF) model.
		The quantity ordered also has an effect on the transportation cost, since a little more than the truck capacity will require an additional truck that will increase the minimum total cost.
	rave.ohiolink.edu /etdc/view?acc_num=ohiou1103228627 (401 words)

	MyWorkTools.com - Operations - Economic Order Quantity Model Tool Preview
		The Economic Order Quantity (EOQ), as it is known in purchasing, is the amount at which the combination of order costs and inventory carrying costs is minimized.
		The EOQ model is applicable if demand for an item has a constant rate and the entire quantity ordered arrives in inventory at one point in time.
		EOQ calculations are frequently used in business, both by production, purchasing and inventory managers.
	www.myworktools.com /tp_cache/t12/tool_1262.html (353 words)

	[No title]
		The quantity ordered is denoted by Q. The larger Q is, the smaller the annual ordering cost, but the larger the annual holding cost, so there is a trade-off.
		The lead time is the time between when an order is placed and when it arrives.
		The reorder quantity Q is determined as the EOQ.
	www.uic.edu /classes/idsc/ids532/973/ntsch12.htm (651 words)

	Replenishment using the Economic Order Quantity (EOQ) model
		The EOQ model is perhaps the most basic inventory control model.
		The general behaviour of the model is shown in figure 5.3 for illustrative purposes.
		It can be seen that the total replenishment cost decreases as the reorder quantity increases (this is intuitive, as there are fewer replenishment cycles).
	www.dcs.gla.ac.uk /~lennons/steve_thesis/node64.html (459 words)

	Term paper on Economic Order Quantity
		A large consulting firm orders photocopying paper by the carton.
		Following figures will be used to calculate the economic order quantity (OEQ).
		More customers will be attracted to the quantity discounts and will avail it.
	www.termpapergenie.com /economic_order.html (359 words)

	SMM: Examples for Session 11: Inventory Modeling; spreadsheet models
		Note that the EOQ is in fact the low point of total cost.
		Our approach is to compute the total costs of the operation, including the cost of ordering, the cost of carrying, and the cost of buying the inventory.
		The costs of ordering and carrying are plotted using the Chart Wizard.
	www.chacocanyon.com /smm/demonstrations/examples11.shtml (756 words)

	[No title]
		Demand, ordering costs, and carrying costs are known with certainty.
		Three factors are causing sizable reduction in the cost of placing a purchase order (P).
		Both increases in the carrying cost (C) and decreases in the ordering cost per purchase order (P) result in smaller EOQ amounts.
	www.stfrancis.edu /grd/morrissette/HorngrenPPT/COST20.PPT (1771 words)

	SMM: Economic Order Quantity; spreadsheet models
		o understand why the Economic Order Quantity is given by the formula in the session notes, we have to understand why the minimum value of C
		Remember that the total cost per unit has two components — the cost of ordering and the cost of carrying inventory.
		This total cost per unit, of course, isn't really the total cost, despite our use of the word "total." This total cost ignores the cost of the unit itself.
	www.chacocanyon.com /smm/readings/eoq.shtml (461 words)

	Economic Order Quantity (Site not responding. Last check: 2007-10-24)
		Economic order quantity (EOQ) balances the cost acquisition and the cost of carrying material to minimize total costs.
		Use EOQ after any pricing anomalies found have been explained.
		The worksheet has been designed to permit you to perform sensitivity analyses (comparing the total cost based for different price/volume relationships).
	www.sdsnotebooks.com /eoq.htm (100 words)

	Find in a Library: Optimal inventory policies for an economic order quantity models under various cost functions
		Find in a Library: Optimal inventory policies for an economic order quantity models under various cost functions
		Optimal inventory policies for an economic order quantity models under various cost functions
		WorldCat is provided by OCLC Online Computer Library Center, Inc. on behalf of its member libraries.
	worldcatlibraries.org /wcpa/ow/242134636d361acea19afeb4da09e526.html (78 words)

	OM-EOQPROD Free Download
		Excel Spreadsheet Template for Economic order quantity (EOQ) with production lot sizes.The basic EOQ model finds that particular quantity to order which minimizes the total variable costs of inventory.
		If the EOQ is produced in-house rather than purchased from vendors, use the OM-EOQPROD model.
		OM-EOQBACK - Excel Spreadsheet Template for Economic order quantity (EOQ) with quantity discounts and back orders.
	www.visual-mp3.com /review/3215.html (241 words)

	[No title] (Site not responding. Last check: 2007-10-24)
		Purchase cost per unit is constant (no quantity discount).
		Machine Utilization The machine is producing tiles D/P = 1/6 of the time.
		EOQ with Planned Shortages: System behavior Inventory Level Time Q - S Maximum invty level - S 0 t1 t2 T EOQ with Planned Shortages With the EOQ with planned shortages model, a replenishment order does not arrive at or before the inventory position drops to zero.
	www.uregina.ca /admin/faculty/Mason/admn270/ch11a.ppt (458 words)

	OM-EOQBACK: Excel Spreadsheet Template for Economic order quantity (EOQ) with quantity discounts and back orders. The ...
		OM-EOQBACK: Excel Spreadsheet Template for Economic order quantity (EOQ) with quantity discounts and back orders.
		The basic EOQ model finds that particular quantity to order which minimizes the total variable costs...
		When backorders are possible, a modified EOQ model is available in EOQBACK.
	www.shareware-catalog.com /om-eoqback-download-4538.htm (124 words)

	Excel Spreadsheet Template for Economic order quantity (EOQ).
		Excel Spreadsheet Template for Economic order quantity (EOQ).
		The basic EOQ model in finds that particular quantity to order which minimizes the total variable costs of inventory.
		You will be able to download the product immediately after ordering!
	www.ozgrid.com /Services/template-economic-order-quantity.htm (111 words)

	The Basic Economic Order Quantity Model (Site not responding. Last check: 2007-10-24)
		The Economic Order Quantity (EOQ) Model is a technique that determines the optimal order quantity of an inventory item, based upon the tradeoff between various operating and financial costs
		Carrying Costs: variable costs of holding items in inventory
		Total Cost: sum of order and carrying costs
	www.humboldt.edu /~aa3/fin315/chapt18/sld033.htm (46 words)

	Verismall Software - Economic Order Quantity (Site not responding. Last check: 2007-10-24)
		Home Page > Inventory > Economic Order Quantity Spreadsheet
		Economic order quantity is the optimum number of stock per order that will reduce inventory costs to a minimum.
		The spreadsheet demonstrates and calculates economic order quantity for a given stock item as well as the annual inventory cost.
	www.verismall.com /vs/software/inventory/eoq/economicorderquantity.htm (57 words)

	OM-EOQDISC - For Economic order quantity
		OM-EOQDISC - Excel Spreadsheet Template for Economic order quantity (EOQ) with quantity discounts.The basic EOQ model in finds that particular quantity to order which minimizes the total variable costs of inventory.
		OM-EOQDISC should be used for cases where vendors offer price discounts based on the quantity purchased.
		OM-EOQDISC, Project Management, Microsoft Project, Planning Routings, SPC, Control Charts, Pareto, Manufacturing Software, MRP, Inventory Control, Shop Scheduling, Shop Management, Demand Forecasting, EOQ, Economic Order Quatity, Production Planning, Inventory Management...
	www.hot-shareware.com /business-finance/om-eoqdisc (276 words)

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