We analyse several extensions to the Economic Order Quantity (EOQ) model: when the inventory deteriorates over time; when the demand contains a stock dependent term; and when the present value, or discounted cost, is included. We derive exact analytical expressions for the order that minimises...

We analyse several extensions to the Economic Order Quantity (EOQ) model: when the inventory deteriorates over time; when the demand contains a stock dependent term; and when the present value, or discounted cost, is included. We derive exact analytical expressions for the order that minimises...