IJPAM: Volume 97, No. 2 (2014)
AND EPQ MODELS WITH BACKORDERS
Department of Mathematics
Faculty of Science
Chonburi, 20131, THAILAND
Abstract. This paper uses the algebraic arithmetic-geometric mean inequality method (the algebraic AGM method) to derive the optimal lot size and the optimal backorders level for the EOQ and EPQ models with backorders. The method is very simple to derive both the optimal lot size and optimal backorders level without derivatives.
Received: July 2, 2014
AMS Subject Classification: 90B05
Key Words and Phrases: algebraic method, arithmetic-geometric mean inequality, backorders level, economic order quantity, economic production quantity
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DOI: 10.12732/ijpam.v97i2.10 How to cite this paper?
Source: International Journal of Pure and Applied Mathematics
ISSN printed version: 1311-8080
ISSN on-line version: 1314-3395
Pages: 219 - 223