Effects of errors in the demand and cost parameters in the EOQ model of stock control.

• Main Authors: Gooi, Esther Sok Hwa., Lee, May Han Mei., Ng, Hwee Chin.
• Other Authors: Walker, John
• Format: Final Year Project
• Published: 2008
• Subjects: DRNTU::Business::Operations management::Inventory control
• Online Access: http://hdl.handle.net/10356/10716
• Institution: Nanyang Technological University

The objective of this research paper is to evaluate the resilience of the Economic Order Quantity (EOQ) model towards errors or changes in its decision parameters. It is our intention to first discuss the basic theory of the EOQ model before going in depth to review the various parameters in the EOQ...