Disney, Stephen M.; Warburton, Roger D.H. - In: International Journal of Production Economics 140 (2012) 2, pp. 756-764
We illustrate the use of the Lambert W function by analysing two Economic Order Quantity (EOQ) scenarios: an EOQ model with perishable inventory; and a Net Present Value analysis of an EOQ problem with trim loss. Both scenarios are motivated by real-world situations. Via these two examples, we...