Showing papers on "Present value of costs published in 1974"
TL;DR: In this paper, the authors examined the present value of discounted costs over an infinite horizon, and discussed the differences in the solutions and implications of errors using the two methodologies, and proposed an alternative approach described in this paper.
Abstract: The usual analysis of the deterministic economic order quantity problem seeks to minimize the average cost of inventory ordering and holding costs per unit time. An alternative approach described in this paper examines the present value of discounted costs over an infinite horizon. Differences in the solutions and implications of errors using the two methodologies are discussed.
109 citations