A decision support system based upon economic order quantities for use in a civil engineering contractor
A decision support system based upon economic order quantities for use in a civil engineering contractor
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.
contractor, procurement, economic order quantity (EOQ), return on investment (ROI), decision support system (DSS)
1-12
Riley, Michael
19fe7566-d7eb-4c36-b1a6-ffb5b902e239
Brown, David
9aa38c45-99df-4467-9069-6b4340e8d137
Bailey, Andrew
983873b5-8f2c-440c-a105-eff29002acc5
January 2002
Riley, Michael
19fe7566-d7eb-4c36-b1a6-ffb5b902e239
Brown, David
9aa38c45-99df-4467-9069-6b4340e8d137
Bailey, Andrew
983873b5-8f2c-440c-a105-eff29002acc5
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), .
(doi:10.1080/10286600212163).
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.
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More information
Published date: January 2002
Keywords:
contractor, procurement, economic order quantity (EOQ), return on investment (ROI), decision support system (DSS)
Identifiers
Local EPrints ID: 53852
URI: http://eprints.soton.ac.uk/id/eprint/53852
ISSN: 1028-6608
PURE UUID: 2893d10d-5c6e-4766-bf75-e20acf51296e
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Date deposited: 22 Jul 2008
Last modified: 15 Mar 2024 10:42
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Contributors
Author:
Michael Riley
Author:
David Brown
Author:
Andrew Bailey
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