What is it about?
Choosing an inventory management policy is a critical decision regarding the relevant cost of choosing each policy. EOQ and JIT are compared regarding different associated costs of each. We calculate indifference points for selecting each of them under different assumptions.
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Why is it important?
Selecting an inventory policy significantly influences the total cost of inventory. It is a critical decision.
Perspectives
The indifference points found in this paper are in need of applications. Future studies are encouraged to find these indifference points prior to make an inventory decision to choose one or to switch.
Mr. Meh Raja
University of New South Wales
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This page is a summary of: A revision on EOQ/JIT indifference points, International Journal of Industrial Engineering Computations, January 2015, Growing Science,
DOI: 10.5267/j.ijiec.2015.4.001.
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