In inventory management, Economic Batch Quantity (EBQ), also known as Optimum Batch Quantity (OBQ) is a measure used to determine the quantity of units that can be produced at the minimum average costs in a given batch or product run. EBQ is basically a refinement of the economic order quantity (EOQ) model to take into account circumstances in which the goods are produced in batches.[1][2] The goal of calculating EBQ is that the product is produced in the required quantity and required quality at the lowest cost.[3][4][5]
The EOQ model was developed by Ford W. Harris in 1913, but R. H. Wilson, a consultant who applied it extensively, and K. Andler are given credit for their in-depth analysis. Aggterleky described the optimal planning planes and the meaning of under and over planning, and the influence of the reduction of total cost.[6][7] Wiendahl used Harris and Andler's equation for the determination of the optimal quantity.[8] Härdler took into account the costs of storage and delivery in determining the optimal batch quantity (EBQ).[9] Muller and Piasecki asserted that inventory management is explained only with the basics of an optimal quantity calculation.[10][11]
^A Dictionary of Accounting (4 ed.). Oxford University Press. 2010.
^Jonathan Law Dictionary of Business and Management (5 ed.). Oxford University Press. 2009.
^Heizer, J; Render, B (2001). Principles of Operations Management (6 ed.). Upper Saddle River: Prentice Hall.
^Fogarty, W D; Blackstone, H J; Hoffman, R T (1991). Production and Inventory Management (2 ed.). Cengale Learning, Stamford.
^Hax, A C; Candea, D (1984). Production and Operations Management. Englewood Cliffs, New Jersey: Prentice-Hall.
^Aggteleky, B (1990). Fabrikplanung. München, Wien: Carl Hanser Verlag.
^Wiendahl, H P (2008). Betriebsorganistion für Ingenieure. München, Wien: Carl Hanser Verlag.
^Härdler, J (2012). Betriebswirtschaftslehre für Ingenieure. München, Wien: Carl Hanser Verlag.
^Muller, M (2011). Essentials of Inventory Management (2 ed.). New York: Amacom.
^Piasecki, D J (2009). Inventory Management Explained: A Focus on Forecasting, Lot Sizing, Safety Stock, and Ordering Systems. Kenosha: Ops Publishing.
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