EOQ {Inventorymodel}

EOQ

Description

This function obtains the optimal orders and the associated cost in the EOQ model.

Usage

EOQ(n = NA, a = NA, d = NA, h = NA, m = NA)

Arguments

n

Number of agents in the inventory model.

a

The fixed cost per order.

d

Vector. Deterministic demands per time unit to each agent.

h

Vector. Holding costs to each agent.

m

Vector. Number of orders to each agent (optional).

Value

This function calculates two vectors. The first shows the optimal order for each agent. The second vector indicates the associated cost to these orders.

Examples

EOQ(n=3,a=600,d=c(500,300,400),h=c(9.6,11,10))

#EOQ model
#$"Optimal order"
#[1] 250.0000 180.9068 219.0890
#
#$"Order costs"
#[1] 2400.000 1989.975 2190.890