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), pp. 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
Digital Object Identifier (DOI): doi:10.1080/10286600212163
ISSNs: 1028-6608 (print)
Keywords: contractor, procurement, economic order quantity (EOQ), return on investment (ROI), decision support system (DSS)
Subjects:

ePrint ID: 53852
Date :
Date Event
January 2002Published
Date Deposited: 22 Jul 2008
Last Modified: 16 Apr 2017 17:48
Further Information:Google Scholar
URI: http://eprints.soton.ac.uk/id/eprint/53852

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