Keywords
supplying
inventory management
deterministic inventories models
lot size
How to Cite
Abstract
The objective of this work is to analyze the following deterministic inventory models for independent demand: single lot, lot by lot, economic order quantity (EOQ), Silver-Meal algorithm (SM), minimum unit cost (MUC), balancing fragmented period (BFP) and Wagner-Whitin algorithm (WW).
These models arise from a key assumption that the demand known with some degree of certainty of an article carried in inventory is independent of the demand of any other article also carried in such inventory.
With the purpose of obtaining the objective set, an application of several of these models is made to calculate the optimal lots size of letter and office paper reams according to the registries of real and independent demand provided by the Publications Department of the FACES-ULA, Mérida-Venezuela.
The main conclusion derived from the results obtained is that the single lot method used by the FACES´s administration, compared with lot by lot, EOQ, SM, CUM, BFP, WW models, is the most expensive and, consequently, the least indicated.
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