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An EOQ Model for Streamlining Raw Material Inventory at the Texacone Company

(Wallace Wheeler, 1992)

The procurement of raw materials for manufacturing is a critical function because any shortage of materials can lead to a partial or complete production shutdown. Conversely, excessive material stock involves unnecessary costs related to maintaining large inventories. The optimal solution to this dilemma is to keep inventory costs at a minimum while avoiding costly stock-outs. This study focuses on the purchasing department of the Texacone Company of Mesquite, Texas and specifically on raw material procurement. It will assist in providing an increase in control and effectiveness of the inventory while streamlining costs using an inventory modeling system.

Richard S. Barr
Fri Feb 17 16:09:51 CST 2006