A Cost Decision Model for Choosing JIT Purchasing or EOQ Purchasing

Dalian（2008）

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Abstract

Whether to use JIT or EOQ purchasing for a manufacturer is affected by many factors. The total purchasing cost and their cost item is detailed respectively and a difference cost function presented between the EOQ and JIT purchasing. Then the solution and its numerical description are proposed.

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Key words

decision making,purchasing,eoq purchasing,jit purchasing,cost decision model,manufacturer,numerical description,materials,decision models,cost function,economics,production,transportation

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