Inventory Control and EOQ Forecasting Tools as Effective Decision-Making Model

DOI

10.2991/ahe.k.210205.066How to use a DOI?

Keywords

Inventory control, EOQ, tools

Abstract

Inventory management is one of the crucial aspects of any business that affects how the company handles the profits and losses. The type of inventory that the management has implemented will either cause problems to the entire supply chain or affect how the overall gains are shared. Through the adoption of inventory controlling technologies, the business will be able to handle the increase in demands and have a transparent, informational infrastructure on the product consumption patterns. One such useful inventory control technology is the Economic Order Quantity (EOQ). Through the adoption and implementation of this technology, the business can enhance its inventory management and the way they handle consumption. More so, this method helps collect information from the various aspects of the business, informing the administration’s decisions. Through systematic researching, this paper will tell whether with the use of inventory control systems and, more specifically, the use of Economic Order Quantity will help the business make a stride in reducing the cost associated with inventory managements.

Copyright

© 2021, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Ahmad Rifai
AU  - Dedy Kurniawan
AU  - Ariansyah Saputra
AU  - Dinna Yunika Hardiyanti
PY  - 2021
DA  - 2021/02/09
TI  - Inventory Control and EOQ Forecasting Tools as Effective Decision-Making Model
BT  - Proceedings of the 4th Forum in Research, Science, and Technology (FIRST-T1-T2-2020)
PB  - Atlantis Press
SP  - 395
EP  - 400
SN  - 2589-4943
UR  - https://doi.org/10.2991/ahe.k.210205.066
DO  - 10.2991/ahe.k.210205.066
ID  - Rifai2021
ER  -