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The Study for EOQ md OMMIP Comparison Analysis According to Order Lead Time Change  

Oh Sae-Kyung (Division of Advanced Industrial Engineering, Kyonggi University)
Choi Jin-Yeong (Division of Advanced Industrial Engineering, Kyonggi University)
Publication Information
Journal of Korean Society of Industrial and Systems Engineering / v.27, no.4, 2004 , pp. 83-89 More about this Journal
Abstract
In this paper MIP(mean inventory period) Model and OMMIP decision flow have been developed. MIP model can calculate mean inventory period which is subject to the order quantity alternative plan. OMMIP decision flow leads how can decide the most minimized order quantity in mean inventory period among various order quantity alternatives. This paper also suggests how to select the order quantity with minimum inventory period as optimal order quantity by means of comparison each mean inventory period with other mean inventory period, after simulating EOQ and order quantity of OMMIP calculated in MIP model.
Keywords
OMMIP(order quantity at minimized mean inventory period); MIP Model; EOQ;
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