| Category | Report | Subject | Business |
|---|---|---|---|
| University | Brunel University London | Module Title | MG5580 Business Modelling |
The concept of a continuous-time framework is not a novel idea, despite garnering a lot of attention. The groundwork has been established for the discrete-time framework, a novel analytical technique. Initially, it is crucial to identify the primary distinctions between the two methodologies in order to examine the EOQ model in the context of specific time frames. Some scholars have tried to use accounting techniques to reflect these disparities. The primary obstacle, which still has to be addressed, is the absence of access to demand data. The inventory time series diagram makes system imperatives, especially their long-term averages, more evident (Gołaś, 2020). The assumptions made throughout the registration procedure determine how well the accompanying cost model analysis performs. Conversely, distinct time frames separate time in discrete periods, or time quanta as well as gather inventory data during the time of conclusion of each period. In order to optimize the second study, the ongoing time frame has been reintroduced in the first study to overcome this problem. Several changes to the conventional finite time frame have been implemented in order to further enhance the considered temporal horizon. This entails integrating timetables for distinct time intervals into the overall procedure. The two pieces that follow are expansions of the findings. The properties of partially optimum costs across time by using the stochastic (S, T) approach.
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