Ever since the basic Economic Order Quantity (EOQ) model was introduced, several researchers and academicians extended and/or altered it, to reduce its unrealistic assumptions and make it more suitable and appropriate to the real world. The traditional EOQ Models assume constant demand and...

Researchers have recently developed a model for international supply chains for transferring lots in equal-sized batches, taking environmental concerns into account. This scheme incorporated stochastic behaviour of the exchange rate between the vendor's and buyer's currencies as part of the...