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Analysis Of An Economic Order Quantity And Reorder Point Inventory Control Model For Company Xyz, Jose L. Gonzalez, Daniel Gonzalez
Analysis Of An Economic Order Quantity And Reorder Point Inventory Control Model For Company Xyz, Jose L. Gonzalez, Daniel Gonzalez
Industrial and Manufacturing Engineering
As a result to today’s uncertain economy, companies are searching for alternative ways to stay competitive. In which, Company XYZ has been faced with an ineffective forecasting method that has lead to multiple product stock outs. The issue faced has caused sales loss as well as profit loss, which companies can not afford to lose if they want to stay competitive. This project goes through the process of analyzing the company’s current forecasting model and recommending an inventory control model to help them solve their current issue. As a result, an Economic Order Quantity (EOQ) and a Reorder Point was …