1. Order cycle in which item n has to be sent
Table 2. Multi-product Economic Order Quantity (EOQ) Model
Item 1
Item 2
Item 3
Item n
Annual demand
10000
1000
100
...
Holding cost 75
Order cost
630 Q
410
130 41 N
24.4
7.72
2.44
t(days)
14.96
47.31
149.61
Order quantity
Order cycle in which item n has to be sent 1 3 10
Total cost
NI5,407.93
N4,898.06
NI,574.54
Hycinth Chukwudi Iwu et al. Application of Inventory Model in Determining Stock Control in an Organization. American Journal of Applied Mathematics and Statistics, 2014, Vol. 2, No. 5, doi: /ajams-2-5-3
© The Author(s) Published by Science and Education Publishing.