A decision support system based upon economic order quantities for use in a civil engineering contractor
Riley, Michael, Brown, David and Bailey, Andrew (2002) A decision support system based upon economic order quantities for use in a civil engineering contractor. Civil Engineering and Environmental Systems, 19, (1), 1-12. (doi:10.1080/10286600212163).
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Description/Abstract
A decision support model was created based upon the theory of economic order quantities and maximisation of return for the investor. A new model for maximising return on investment ( ROI ) is presented which provides more reliable results for low cost, small volume items as typified in the construction maintenance environment. The model was incorporated into the materials purchase system of a civil engineering contractor to guide the selection of order quantities. Estimated savings on the overheads of the purchasing process are presented for sample items.
| Item Type: | Article |
|---|---|
| ISSNs: | 1028-6608 (print) |
| Related URLs: | |
| Keywords: | contractor, procurement, economic order quantity (EOQ), return on investment (ROI), decision support system (DSS) |
| Subjects: | Q Science > QA Mathematics > QA75 Electronic computers. Computer science H Social Sciences > HB Economic Theory T Technology > TA Engineering (General). Civil engineering (General) |
| Divisions: | University Structure - Pre August 2011 > School of Social Sciences > Economics University Structure - Pre August 2011 > School of Civil Engineering and the Environment |
| Item ID: | 53852 |
| Date Deposited: | 22 Jul 2008 |
| Last Modified: | 16 Aug 2012 02:20 |
| Contributors: | Riley, Michael (Author) Brown, David (Author) Bailey, Andrew (Author) |
| Date: | January 2002 |
| Status: | Published |
| Contact Email Address: | ab604@soton.ac.uk |
| URI: | http://eprints.soton.ac.uk/id/eprint/53852 |
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