A multi-item constrained EOQ calculation algorithm with exit condition: a comparative analysis

摘要

The present paper shows the improvements of an alternative approach for the calculation of the multi-item Economic Order Quantity (EOQ) in presence of space restrictions. The approach, already presented in literature, has been improved in order to make more efficient the calculation algorithm. This newly modified approach, with different variations, has been tested in simulated scenarios with the purpose of identifying the most significant regulation parameters, their optimal values and the average level of performances the approach is able to guarantee, in terms of costs of the solution and calculation times. The outcomes of this study confirm the general validity of the approach and, in particular, the improvement given by the specific exit condition of the algorithm introduced in this work.