The Cost-Minimizing Solution… Generic EOQ solver
MyOMLab Operations Management
Heizer, Render and Munson
13th Edition
Solves any basic EOQ (Economic Order Quantity) problem. WARNING! Make sure that both DEMAND and the HOLDING COST are both expressed as ANNUAL. If one of them is not annual, convert to an annual value for the solver input. Note: the letter S = order cost. The cost-minimizing quantity is the “number to order each time”. Also provides average inventory and number of orders each year.
Calculator Preview
Your numbers will vary.