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Multi-criteria model for determining order size

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  • Katarzyna Jakowska-Suwalska

Abstract

A multi-criteria model for determining the order size for materials used in production has been presented. It was assumed that the consumption rate of each material is a random variable with a known probability distribution. Using such a model, in which the purchase cost of materials ordered is limited, three criteria were considered: order size, probability of a lack of materials in the production process, and deviations in the order size from the consumption rate in past periods. Based on an example, it has been shown how to use the model to determine the order sizes for polyurethane adhesive and wood in a hard-coal mine.

Suggested Citation

  • Katarzyna Jakowska-Suwalska, 2013. "Multi-criteria model for determining order size," Operations Research and Decisions, Wroclaw University of Science and Technology, Faculty of Management, vol. 23(2), pages 43-54.
    • Handle: RePEc:wut:journl:v:2:y:2013:p:43-54:id:1080
    DOI: 10.5277/ord130204
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    References listed on IDEAS

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    1. Khouja, Moutaz, 1999. "The single-period (news-vendor) problem: literature review and suggestions for future research," Omega, Elsevier, vol. 27(5), pages 537-553, October.
    2. JosÉ Figueira & Salvatore Greco & Matthias Ehrogott, 2005. "Multiple Criteria Decision Analysis: State of the Art Surveys," International Series in Operations Research and Management Science, Springer, number 978-0-387-23081-8, April.
    3. Harvey M. Wagner & Thomson M. Whitin, 1958. "Dynamic Version of the Economic Lot Size Model," Management Science, INFORMS, vol. 5(1), pages 89-96, October.
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