The Ubiquitous EOQ — Its Relation to Discrete Lot Sizing Heuristics

Abstract

The EOQ formula is definitely the oldest and best known single stage lot sizing technique. Its use reportedly dates back to 1904, even though it was not published until a later date. It is often looked upon with scepticism by practitioners and academicians alike, although the reasons for this may differ; it seems, however, to be the most widely used lot sizing technique overall.

Citation

Wemmerlov, U. (1981), "The Ubiquitous EOQ — Its Relation to Discrete Lot Sizing Heuristics", International Journal of Operations & Production Management, Vol. 1 No. 3, pp. 161-179. https://doi.org/10.1108/eb054669