Inventory Management Module solves Economic Order Quantity models [without & with shortages], Economic Batch Quantity models [without & with shortages] and Price Break Models.
Ordering with Shortages [EOQ]
Ordering with Shortages tab solves the Economic Order Quantity [EOQ] Inventory models, with shortages.
- Enter the Demand [D] and choose the Unit of Measurement from the Unit option
- Enter the Set up /Ordering cost [Co] per order or per set up
- Enter the Holding cost [Cc] per unit and choose the Unit of Measurement from the Unit option
- Enter the Shortage Cost [Cs] ] per unit and choose the Unit of Measurement from the Unit option
- If Purchase cost [p] per unit is given, enter the same
- As a default entry, Number of days per year consider as 365
- Press the Solution Button to generate the solution
- Save option allows you to save the problem data to the local system storage as a ‘.txt’ file
- Solution page contains Problem Statement and Result Table.
- Result Table contains the EOQ, Maximum Inventory [Q1], Maximum Stock out [Q2], Period of Positive Stock [t1], Period of Stock Out [t2], Cycle Time [t=t1+t2], Number of orders & Total Cost [Including Purchase Cost, if it is given, otherwise Total Cost excluding Purchase cost]
- There is an option to save the solution as a PDF file