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    Applying an EOQ model to reduce an inventory cost 

    Russarin Jiraruttrakul; Srobol Smutkupt; Wasana Marksin; Liang, Liu; Chanasit Thanathawee (Assumption University Press, 2017)

    This research study applies an EOQ model (Economic Order Quantity) to reduce an inventory cost. The focus ABC Company is a Beer Importer in Thailand. It faced the problem of high inventory cost and lackluster inventory management. The root cause was that the Company had no standardized ordering process, which meant a high cost of carrying excess inventory, or having too little to meet demand. It also meant paying a high storage charge. The EOQ Model was proposed, to make substantial improvements. Historical inventory stock data for years ...