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Essay / Research Paper Abstract
An 8 page paper discussing operations problems at ABC Company, which imports and distributes tiles. The company uses the Economic Order Quantity (EOQ) approach to inventory management so as to gain the most advantageous price on tiles that it can. Of course this is in ABC’s best interests, but there are cost factors that cannot be accounted for by EOQ alone. The paper recommends that ABC implement JIT as well, so that the two methods can be used to gain the best possible position for ABC. Bibliography lists 6 sources.
Page Count:
8 pages (~225 words per page)
File: CC6_KSmgmtSupChnJIT.rtf
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Unformatted sample text from the term paper:
ABC Company imports and distributes tiles. The company uses the Economic Order Quantity (EOQ) approach to inventory management so as to gain the most advantageous price on tiles that
it can. Of course this is in ABCs best interests, in that it obviously gains more profit on tiles that it buys at lower prices than it does those
for which it must pay higher prices. The Problem ABCs approach to order analysis should result in gaining the most advantageous price every
time, and it may well be that it does indeed gain the most advantageous price possible in the way that it orders tiles from its suppliers. The problem is
that some tiles have not moved out of the warehouse for six months, increasing ABCs warehousing and other overhead costs, as well as labor required to maintain the inventory that
never seems to want to leave. Further, ABC has precious capital tied up in the tiles in its warehouse, capital that it may be able to better use in
other places were it available for use. EOQ Piasecki (2001) provides a complete discussion about EOQ and its value in determining the most
advantageous purchase price for goods from suppliers. The formula takes the form of: Source: (Piasecki, 2001)
While the formula itself is straightforward, the problems of identifying the proper inputs into it are notorious for complicating the calculations and returning misleading information
(Piasecki, 2001). Of course there is software that claims to eliminate the drudgery of manual calculations, but that software has the same limitations as does its human counterpart.
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