A Proof of the EOQ Formula Using Quasi-Variational Inequalities
International Journal of Systems Science, Vol. 29, No. 11, pp. 1295-1299, 1998
11 Pages Posted: 18 Apr 2008 Last revised: 27 Mar 2014
Abstract
In this paper, we use quasi-variational inequalities to provide rigorous proof of the familiar square root formula for the economic order quantity (EOQ) in the classical deterministic average cost inventory model.
Keywords: EOQ, Square root formula, quasi-variational inequalities, inventory model, lotsize model, lotsize formula
JEL Classification: M11, C61
Suggested Citation: Suggested Citation
Beyer, Dirk and Sethi, Suresh, A Proof of the EOQ Formula Using Quasi-Variational Inequalities. International Journal of Systems Science, Vol. 29, No. 11, pp. 1295-1299, 1998, Available at SSRN: https://ssrn.com/abstract=1121525
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