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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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.
|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
|Date Deposited:||22 Jul 2008|
|Last Modified:||27 Mar 2014 18:36|
|RDF:||RDF+N-Triples, RDF+N3, RDF+XML, Browse.|
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