Simple EOQ Calculator

Simple EOQ Calculator$1.99

Rated 0.00/5 (0) —  Free Android application by Business Research & Applications Limited

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About Simple EOQ Calculator

Companies that hold stock face two major costs: holding cost, and ordering. Both costs work in such a way that managers need to balance them; there is a trade-off: stock too much and your holding costs will eat your profits, keep your ordering frequency at high levels and your ordering costs will increase.

For the sake of supply chain management efficiency there are many models available. One of the most utilised systems is the ‘Economic Order Quantity’ (EOQ) model, developed by Production Engineer Ford Harris.

This simple model allows to calculate the order size, and hereby the reorder point that minimises the total cost of purchasing, ordering and holding stocks. The simplicity of the model resides in its ability to calculate such optimal quantity only considering demand, and the ordering and holding costs.

This application calculates the EOQ given an annual demand estimate, together with the total yearly orders and the total annual cost.

Further, you can choose to calculate the EOQ when shortages may arise; the possibility of shortages may come from either a technical perspective (it is possible to backorder), or from a commercial possibility (customers do not cancel an order whenever there is no inventory available and wait for the backordering process).

As an additional option, if you consider your demand is uncertain, the calculator will make use of the 'Newsvendor model' and will calculate the optimal monthly order given the selling price of the product, your costs, and the average monthly demand and its standard deviation. This is the most used models to calculate the optimal order size when demand is unknown and only the demand mean and variance is known.

How to Download / Install

Download and install Simple EOQ Calculator version 1.08 on your Android device!
Downloaded 50+ times, content rating: Everyone
Android package: com.matterofbiz.simple.eoq.calculator, download Simple EOQ Calculator.apk

All Application Badges

Paid
app
Android
2.3.3+
For everyone
Android app

App History & Updates

What's Changed
[1.07] Improvements in calculation and results presentation.
[1.06] Now it can be installed in the SD card.
[1.05] New model added (EOQ with shortages) and improvements in the user interface.
[1.02] Improvements in the user interface.
Price update  Price changed from $2.91 to $1.99.
Version update Simple EOQ Calculator was updated to version 1.08
More downloads  Simple EOQ Calculator reached 50 - 100 downloads
Price update  Price changed from $1.99 to $2.91.

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