The EOQ Inventory Formula James M. Cargal Mathematics Department Troy University – Montgomery Campus A basic problem for businesses and manufacturers is‚ when ordering supplies‚ to determine what quantity of a given item to order. A great deal of literature has dealt with this problem (unfortunately many of the best books on the subject are out of print). Many formulas and algorithms have been created. Of these the simplest formula is the most used: The EOQ (economic order quantity) or
Premium Economic order quantity Inventory
The Great Inventory Correction 2001 Edward Teach Group member: Huynh Quang Vu Le Huu Dien Le Thi Phuong Tu Pham Duc Hai Tran Ho Thanh Dong GSCM – Group 3 1 Outline • Summary • Answers to case questions • Conclusion • Q&A GSCM – Group 3 2 Case summary I • the remedy = rethinking of supply chain management at large networking‚ telecom equipment‚ PC and chipmakers • Consequences: huge amount of write-off or write-down of inventory + at Cisco : 2.25 billion dollar +
Premium Supply chain management Inventory
Case example: Inventory Control System Customer profile Nature of business: Trading Purchases consumer products from China and repacks them. Distributes repackaged products to wholesalers and retailers in Singapore‚ Malaysia‚ and Indonesia. ♦ Background and problems Daily business operation involves procurement management‚ shipment schedule‚ consolidating sales orders‚ and delivery. Shortage of administrative personnel in handling the growing volume of supplies (Purchase Order)‚ shipment schedule
Premium Inventory Supply chain management Procurement
Faculty of Business and Law |Level: 3 |Module: SIM335 Managing Projects | |Assignment Code: SIM335 |Module Leader: Michael Cassop-Thompson | | | | |Contribution to module assessment: 100%
Premium Project management
Rasmussen‚ T. (1996). The ASTD trainer’s sourcebook: Diversity. New York‚ NY: McGraw-Hill. Managing diversity is both a challenge and an opportunity for management. It is a challenge because it requires organizational change; it means fostering a cultural environment that values differences and maximizes the potential of all employees. It is an opportunity because organizations that proactively address diversity have a competitive advantage. They are able to attract‚ motivate and retain high potential
Premium Culture Organization Sociology
of time. Such systems do come with a price‚ however‚ and that price is the time you must spend first learning and then maintaining the system. Generally speaking‚ the more complex the system‚ the more costly it is to use. The more time you spend managing your system‚ the less time you’ll spend reaping the rewards of increased productivity. It’s tempting to say that excellent time management is a result of having a great time management system. But I have not found this to be the case. I think the
Premium Management Time management
before they buy a stock of that product. As a result of her suffering began to grow his business. Now he is 8 years in business and more he grew his business he began to have a problem because the more that the product he sold were distressed that he inventory of his goods. As a requirement of the second-year BSIT student of MinSCAT Calapan City Campus‚ Mark Jovith Grantoza‚ Jevilyn Malimata‚ Jenifer Evora and Junhel Cleofe has developed a system that will help to redress the problem of Mr.Uy about his
Premium Computer software Open source Microsoft
UNIVERSITY-DASMARIÑAS COLLEGE OF SCIENCE COMPUTER STUDIES DEPARTMENT Online Sales and Inventory System for Noliboy General Enterprises Jan Michael C. Bobadilla Wilfred Agustin P. Palermo Kenneth C. Cadano Frederick Russel C. Ducay 1.0 Introduction 1.1 Background of the Study The problem of the study is about the company’s inventory and sales system. Due to its current method of inventory system‚ the company has encountered several problems regarding the monitoring and stocks
Premium Customer service Inventory Marketing
(Automobile Models) The spares and services demand is largely dynamic and un-predictive. The service business is driven by the response time and delivery speed. Customers are very critical about these attributes. Therefore the Warehousing for spares would be ideally in a near market location to facilitate faster delivery. Furthermore it may be noted that there are two types of spares. 1. General/Fast Moving 2. Rare/Slow Moving The warehousing can be designed in a Hub and Spoke model where the Hub
Premium Inventory
AMA Computer College Pampanga Campus Allan Michael Ceniza “A Proposed Point of Sales and Inventory System for Wink Printer Solution” Wink Printer and Ink Services Older systems were all software-based and were imperfect in their design. Modern software systems have come a long way now that they are written like software and less like a function-specific operating system. The older POS solutions were limited to basic sales functions and did not leave room for addition sale options
Premium Point of sale Inkjet printer Sales