A model for comparative analysis of inventory costs of JIT and EOQ purchasing in the ready mixed concrete industryWu, M. and Xu, M.Z. (2006) A model for comparative analysis of inventory costs of JIT and EOQ purchasing in the ready mixed concrete industry. Materials Science Forum, 532-533. pp. 1020-1023. ISSN 1662-9752 Full text not archived in this repository. It is advisable to refer to the publisher's version if you intend to cite from this work. See Guidance on citing. To link to this item DOI: 10.4028/www.scientific.net/MSF.532-533.1020 Abstract/SummaryA model for comparing the inventory costs of purchasing under the economic order quantity (EOQ) system and the just-in-time (JIT) order purchasing system in existing literature concluded that JIT purchasing was virtually always the preferable inventory ordering system especially at high level of annual demand. By expanding the classical EOQ model, this paper shows that it is possible for the EOQ system to be more cost effective than the JIT system once the inventory demand approaches the EOQ-JIT cost indifference point. The case study conducted in the ready-mixed concrete industry in Singapore supported this proposition.
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