The optimal medical device order strategy: An improved EOQ model in hospital

Objective: To minimize total stock cost, we make an optimal strategy by which we can submit an appropriate order sheet. Methods: According to the properties of medical consumables, we list three strategy models: multi-variety in deterministic demand, solo variety in indeterminate demand and multi-variety in indeterminate demand. What's more, we use improved EOQ model to calculate optimal order period and quantities. Results: We give some formulas which comprise all stock cost parameters. If these costs were confirmed, we can calculate an appropriate order sheet. Conclusion: A case has been shown to illustrate the method of our order strategy. ? Springer Science+Business Media Dordrecht 2014.