Object

Title: The implementation of economic order quantity for reducing inventory cost

Abstract:

Inventory management is focused with ensuring that all activities involved in labor storage and stock control are carried out efficiently and economically by those working in inventory storage. Then, there is a question for management regarding the efficiency of inventory management procedures because of inconsistencies in inventory levels that cause weaknesses such as losses incurred due to end-inventory stocks, low stock inventories, failure to meet targets and poor corporate morale. As a result, the inventory storage of the company is too busy making the job a difficult supply keeper, late in issuing materials to the department and in turn producing poor inventory service delivery. In inventory management, Economic Order Quantity (EOQ) is the number of orders that minimize total holding costs and booking costs. The EOQ model is one of the oldest classic production scheduling models. The EOQ mathematical models have been established within the scope of operations management to determine the optimal inventory level. The most widely used model is the EOQ model.

Publisher:

Publishing House of Poznan University of Technology

Place of publication:

Poznań

Identifier:

oai:repozytorium.put.poznan.pl:459798 ; e-ISSN 2083-4950 ; p-ISSN 2083-4942

DOI:

10.21008/j.2083-4950.2018.8.3.1

Language:

eng

Relation:

Wydział Inżynierii Zarządzania ; Politechnika Poznańska ; Strona czasopisma

Rights Management:

Politechnika Poznańska

Format:

pp. 207-216

Rights:

wszystkie prawa zastrzeżone

Access rights:

dla wszystkich w zakresie dozwolonego użytku

Rights holder:

Politechnika Poznańska

Digital object format:

application/pdf

Object collections:

Last modified:

Feb 15, 2019

In our library since:

Feb 15, 2019

Number of object content hits:

16

Number of object content views in PDF format

12

All available object's versions:

http://repozytorium.put.poznan.pl/publication/553201

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