Generalized inventory models of EOQ type and their implementation in mathematica

The paper deals with generalized inventory control models which are linked to the well-known EOQ model. We present models assuming another than constant rate of demand within an inventory cycle. The demand rate takes polynomial form which is specified by particular interpolation conditions. These conditions give a chance to include various intermediate data to describe inventory level during the cycle in detail. Optimal replenishment lot size and optimal total cost per unit of time yielded from these models with different interpolating conditions are compared with similar quantities provided by classical EOQ model. Second, we discuss another model which allows both stock dependent demand rate and holding cost, which also allows deteriorating items under inventory to accept. This model uses maximization of an objective function on opposite to EOQ type models. We use Mathematic not only for numerical calculations but also for symbolic derivation of analytic formulae specific for models discussed.