Raehsler, Rod D.; Zhao, Yifan; Yang, Chin W.; Sohng, … - In: Advances in management & applied economics 2 (2012) 2, pp. 179-189
This paper improves upon the existing literature surrounding the production order quantity inventory model in which … impact on production order quantity and total cost. The results suggest that the minimal cost solution derived from the … production order quantity model needs to balance out holding, setup and production costs. As a result, a smaller inventory level …