Classification of InventoryInventory may be classified in different categories based on various aspects like manufacturing- control and service.BASED ON MANUFACTURING:Based on manufacturing aspect- in
Operations Research: Economic Order Quantity (EOQ) in Inventory Model - Graphical MethodIn the previous post- you understand the Trial and Error Method to determine EOQ (Economic Order Quantity) in an
Operations Research: Economic Order Quantity (EOQ) in Inventory ModelThe concept of economic ordering quantity was first developed by F. Harris in 1916. The concept is that management is con fron
Operations Research: WHAT IS AN AVERAGE INVENTORY? WHAT IS AN AVERAGE INVENTORY?Before conceptualizing a simple inventory model- let us try to understand what is an average inventory?The followin
VARIABLES IN INVENTORY PROBLEMOperations Research: Inventory Management We shall now proceed to classify the variables which are involved in an inventory problem. The variables used in any inventory m
