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A decision support system based upon economic order quantities for use in a civil engineering contractor

Record type: Article

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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Citation

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), pp. 1-12. (doi:10.1080/10286600212163).

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

Catalogue record

Date deposited: 22 Jul 2008
Last modified: 17 Jul 2017 14:37

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