Year: 2020
Type: article
Abstract: Inventory procurement of product ingredients in canned tuna industry is purchased independently resulting in wasted cost and deteriorating ingredients. Therefore, this research is developed for strategic improvement of procurement and management of several product ingredients from same supplier to minimize inventory cost by adopting the Applied Economic Order Quantity (EOQ) methodology. The 3 models of Applied EOQ are independently order individual item, jointly order for all items, and partially jointly order for selected items varied by order. The improvement of inventory management with simulated model show partially jointly order for selected items varied by order model can reduce inventory cost by 30%.
Institution: King Mongkut's University of Technology Thonburi
Language: Thai
Subfield: Management Information Systems
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W7217307635