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Chinese Journal of Management Science ›› 2003, Vol. ›› Issue (5): 26-30.

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An EOQ Model with Time-Varying Demand and Time-Varying Purchase Price

ZHENG Hui-li1,2, DA Qing-li1   

  1. 1. School of Economics and Management, Southeast University, Nanjing 210096, China;
    2. Nanjing University of Posts and Telecommunications, Nanjing 210003, China
  • Received:2003-02-10 Revised:2003-09-04 Online:2003-10-28 Published:2012-03-06

Abstract: This article presents an EOQ inventory model with time-varying demand and time-varying purchase price,and shows that the total cost function is convex.An algorithm to determine the optimal number of reorders and the service level is developed.Many numerical examples and sensitive analysis illustrate how the algorithm works.

Key words: EOQ inventory model, demand, purchase price, service level

CLC Number: