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EOQ Quick

EOQ Quick
  • #: 144835
  • Price: $1.99 In Apple Store
  • Category: Education
  • Updated: 2009-12-22
  • Current Version: 1.0
  • 1.0
  • Size: 0.10 MB
  • Language: English
  • Seller: Timestar Services, LLC
  • Requirements: Compatible with iPhone, iPod touch, and iPad. Requires iOS 3.0 or later
  • © 2009 Timestar Services, LLC
  •  Add to Favorite apps

 

Description

EOQ Quick is an easy-to-use Economic Order Quantity (EOQ) Calculator that also gives you the cost associated with the optimal ordering quantity.

It serves as a great tool whether you are a student of OR, or in the business of replenishment, requiring snap access to the calculation.

It calculates EOQ using the Basic EOQ Model, which is formulated as:

EOQ = Sqrt((2 * Demand per unit time * Setup Cost for Ordering one batch) / Holding Cost per unit per unit of time))

Optimal Cost = EOQ * Holding Cost per unit per unit time

For calculating the optimal order quantity, the following assumptions are made:

a) Constant demand rate of D units per unit of time

b) Order Quantity Q arrives all at once just when desired, namely, when the inventory drops to zero

c) Constant lead time

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The information may be outdated (2011-04-17 08:13:27). For actual information go to iTunes

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