Advanced Modeling and Optimization

Abstract for Paper 2 of Volume 5, Number 3, 2003, pp. 167-173

A Stochastic EOQ Policy in a Family of
Cold-Drinks-For a Retailer

Shibsankar Sana
Department of Mathematics,
Bhangar Mahavidyalaya,
University of Calcuta,
India

 


Abstract
This paper presents a stochastic EOQ (economic order quality) model both for discrete and continuous distribution of demands of multi-item products. A general characterization of the optimal inventory policy is developed analytically.

Keywords: Economic Order Quality, Discrete distribution, Continuous distribution