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Volume :1 Issue : 1 1993      Add To Cart                                                                    Download

Quantitative Techniques in Reducing Inventory Investments, Within the MRP System in the Industrial Companies

Auther : Abdulaziz G. Mekhaimer

One of the major developments in manufacturing and inventory management over the last two decades has been the evolution of Material Requirements Planning Systems (MRP). Since then, the lot-sizing decision, when demand is discrete and varies by time period, has provided the basis for much discussion in the technical literature. In this paper ten techniques were identified and evaluated using twenty five sets of data reflecting all conditions of demand variance and continuity. Only two techniques were found to be superior in terms of their cost performance, practicality, and computational complexity. The two techniques are Wagner-Whitin Algoritm, and Karni's model. They can serve as standards in evaluating the cost performance of other techniques. The conventional techniques such as EOQ, EPR and others are no longer valid within the MRP Systems.

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