Cost Bounds for Inventory Systems Approaching JIT

Abstract

The literature on the close to just‐in‐time (JIT) problems of conditions already exists. However, most of it is descriptive and does not quantify cost savings derivable as one moves from the Economic Order Quantity (EOQ) scenario to one that is governed or nearly governed by zero inventory philosophy. This article seeks to establish cost bounds on inventory held under close to JIT conditions for the single item inventory.

Citation

Goh, M. and Hoon Hum, S. (1991), "Cost Bounds for Inventory Systems Approaching JIT", International Journal of Operations & Production Management, Vol. 11 No. 8, pp. 59-63. https://doi.org/10.1108/EUM0000000001281