Optimization of inventory management in foundry in terms of an economic order quantity

Recording of inventory and constant monitoring have a huge impact on the cost level of enterprises operating in the metallurgical sector. The article presents methods to optimize the inventory management in terms of a size of orders. This applies to the assumed cost of storage, procurement, expendit...

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Bibliographic Details
Published inMetalurgija Vol. 51; no. 2; pp. 281 - 284
Main Authors J. Szymszal, B. Gajdzik, J. Piątkowski, J. Kliś
Format Journal Article
LanguageEnglish
Published Croatian Metallurgical Society 01.04.2012
Subjects
computer-aided foundry production
logistics
order quantity
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Summary:Recording of inventory and constant monitoring have a huge impact on the cost level of enterprises operating in the metallurgical sector. The article presents methods to optimize the inventory management in terms of a size of orders. This applies to the assumed cost of storage, procurement, expenditure in time unit and unit prices calculated for a range of castings. As an optimization tool, functions and modules supplied with the MS Excel spreadsheet have been used.
ISSN:0543-5846
1334-2576