    INVENTORY THEORY-FIXED QUANTITY EOQ WITH SHORTAGES

THIS PROGRAM INVOLVES AN INVENTORY PROBLEM FOR WHICH IT IS
ASSUMED THAT THE FOLLOWING CONDITIONS HOLD:
  THERE IS A CONSTANT ORDERING COST PER ORDER
  INVENTORY HOLDING COST IS CONSTANT PER UNIT HELD
  BACKORDERS ARE PERMITTED (STOCKOUTS ALLOWED)
  DEMAND FOR THE ITEMS ARE CONSTANT AND UNIFORM THROUGH TIME
  THERE ARE NO QUANTITY PRICE BREAKS.
  PRODUCTION RUNS(OR REORDERS) MUST BE PLANNED IN ADVANCE.
WE SHALL INPUT ANNUAL DEMAND, ORDERING COST,
HOLDING COST PER UNIT PER YEAR,
AND ANNUAL COST PER UNIT SHORT.
OUTPUT INCLUDES OPTIMAL ORDER QUANTITY,REORDER POINT, AND
TOTAL ANNUAL COST OF THE INVENTORY SYSTEM.
PRESS ENTER TO BEGIN? 
ENTER ANNUAL DEMAND(IN UNITS)      ? 123456
ENTER REORDER COST(PER ORDER)      ? 38.74
ENTER HOLDING COST(PER UNIT/YEAR   ? 1.73
ENTER SHORTAGE COST(PER UNIT/YEAR  ? 2.53

OPTIMAL ORDER QUANTITY IS           3051.21 UNITS
THE OPTIMAL TIME INTERVAL BETWEEN REORDERS =  .024715 YEARS
THE EXPECTED MAXIMUM INVENTORY LEVEL FOR EACH ORDER PERIOD          EQUALS
 1812.1 UNITS

PRESS ENTER FOR MORE? -1
