Economic Order Quantity
In the system based on the information level, it was assumed that the size of the ordered lot was constant. It was also pointed out that an undoubted advantage of this method is the possibility of placing orders in the amount that minimizes the total costs of replenishment and storage of stocks. In the literature […]
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Another extremely useful tool for inventory management is ABC analysis. It is based on a regularity observed in the 19th century by the Italian scientist Vilfredo Pareto. His research has shown that 80% of the national wealth in Italy is owned by 20% of families [Maternowska 2000a]. This regularity, called the Pareto principle, is applied […]
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