Derive the formula of economic production, Ask an Expert

Management Studies

Derive the formula of economic production quantity

Assumptions of EPQ are similar to EOQ except orders are received incrementally

during production

Q* = sqrt(2DS/ H)*sqrt[P/(P-u)]

Q= production quantity in units

H= Holding cost per unit per unit of time

D= demand, usually in units per unit of time

S= production set- up cost

P= production or delivery rate

u= usage rate

this seems different from the normally seen equation how should I fit u in?

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Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M92567662

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