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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 ...
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    Costing a freight forwarder's outsourcing decision 

    Kasaem Limkarnjanachote; Srobol Smutkupt; Wasana Marksin; Sutta Sornmayura; Liang, Liu (Assumption University Press, 2016)

    Any international Freight Forwarder in Thailand faces tough competition. Airfreight is needed for some goods. The cost is high, but can be offset by low inventory cost. FF Company, the focus firm, provides airfreight services to manufacturers. To keep prices competitive, FF's total airfreight operation cost has to be contained. This research examined whether to outsource part of its airfreight operation or retain it in-house. The total cost of ownership (TCO) concept is used to evaluate this decision. Service quality had to be maintained, ...