Inventory Management Module solves Economic Order Quantity models [without & with shortages], Economic Batch Quantity models [without & with shortages] and Price Break Models.
Price Break Models
Production without Shortages tab solves the Economic Batch Quantity [EBQ] Inventory models, without any shortages.
- Enter the Number of Price Breaks Required and Press SUBMIT button
- This action generates the Input table [contains, Demand, Set Up Cost, Holding Cost & Number of Days (default 365 days)]& Price Break Ranges
- 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
- As a default entry, Number of days per year consider as 365
- Enter the Price Break Ranges [Minimum & Maximum Quantity of a range and Price Per Unit for the respective range]
- Press Submit Button
- 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 Calculation for each Price Break.
- Then a summary of Respective Cost for each Price Break is computed and suggested solution is given.
- There is an option to save the solution as a PDF file