Solution Methods for Managing Inventory Through EOQ in Repair and Waste Disposal Processes

EasyChair Preprint 15110

Abstract

Effective management of inventory plays a critical role in minimizing costs and improving operational efficiency in repair and waste disposal processes. The Economic Order Quantity (EOQ) model, traditionally used to optimize inventory levels by determining the ideal order size, can be adapted to manage inventory in systems that involve both repairable items and waste disposal. This paper explores solution methods for applying EOQ to these processes, addressing the complexities introduced by returns, repairs, and disposal of defective or end-of-life items. By integrating reverse logistics into the EOQ framework, we aim to strike a balance between holding costs, repair costs, and waste disposal expenses. The study evaluates the impact of repair and disposal rates on inventory levels, highlighting strategies to minimize the total cost of ownership while ensuring operational continuity. Sensitivity analysis and case studies are used to demonstrate the applicability of these methods in real-world scenarios, providing insights for industries looking to optimize inventory management in the face of repair and waste disposal challenges.

Keyphrases: Cost minimization, Economic Order Quantity, Inventory Management, Repair operations, holding costs, waste disposal

@booklet{EasyChair:15110,
  author    = {Oluwaseun Abiade},
  title     = {Solution Methods for Managing Inventory Through EOQ in Repair and Waste Disposal Processes},
  howpublished = {EasyChair Preprint 15110},
  year      = {EasyChair, 2024}}