Economic purchasing strategies for temporary price discounts

Economic purchasing strategies for temporary price discounts

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Article ID: iaor19981081
Country: Netherlands
Volume: 80
Issue: 2
Start Page Number: 328
End Page Number: 343
Publication Date: Jan 1995
Journal: European Journal of Operational Research
Authors: ,
Keywords: economic order
Abstract:

The familiar model for determining the optimal stock replenishment strategy for a temporary price reduction is based on the simple EOQ. This paper extends the logic to a composite EOQ model which can be decomposed into a family of hybrid models with broader operational flexibility. The composite EOQ provides malleability and flexibility to changing operational requirements by disaggregating complexity. It approaches the resourcefulness of an expert system with its attendant economies.

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