Optimization of inventory management in foundry in terms of an economic order quantity

• Main Authors: J. Szymszal, B. Gajdzik, J. Piątkowski, J. Kliś
• Format: Article
• Language: English
• Published: Croatian Metallurgical Society 2012-04-01
• Series: Metalurgija
• Subjects: computer-aided foundry production; logistics; order quantity
• Online Access: http://hrcak.srce.hr/file/111153
• ISSN: 0543-5846; 1334-2576

Recording of inventory and constant monitoring have a huge impact on the cost level of enterprises operating in the metallurgical sector. The article presents methods to optimize the inventory management in terms of a size of orders. This applies to the assumed cost of storage, procurement, expenditure in time unit and unit prices calculated for a range of castings. As an optimization tool, functions and modules supplied with the MS Excel spreadsheet have been used.