Graduate Student Work
Work/Availability
Open Access Graduate Student Work
Type of Work
Paper
Keywords
Machine parts--Inventory control--Economic aspects; Machine parts--Inventory control--Mathematical models;
Abstract
This pilot study seeks to determine the effect a non-traditional method of inventory control may have on industrial maintenance repair parts inventory. The application of mathematical models designed for production inventory to Maintenance, Repair and Operating (MRO) inventory has not been widely researched, although theorists and practitioners feel there is potential for some models. The Economic Order Quantity (EOQ) theory has proven to be effective in production inventory circles. This pilot study examined the effectiveness of the EOQ in terms of holding cost of the inventory and number of out-of-stock conditions versus the Weighted Moving Average method currently in use at Deere Foundry. The results found no significant difference in holding costs between the two methods. The number of stockouts were largely similar. However, two items in the study had 75% fewer stockouts than the Weighted Moving AAverage method. This finding may support further research into application of the EOQ to maintenance inventory.
Date of Work
1991
Department
Department of Industrial Technology
Repository
UNI ScholarWorks, Rod Library, University of Northern Iowa
Copyright
©1991 Teresa J. K. Hall
Language
en
File Format
application/pdf
Recommended Citation
Hall, Teresa J. K., "Testing the Economic Order Quantity Model on Maintenance Inventory" (1991). Graduate Student Work. 7.
https://scholarworks.uni.edu/gswork/7
Comments
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