Engineering >> Industrial & Management Systems

Finding Ideal Order Size to Minimize Cost

by Azra Kurtic


Submitted : Spring 2015

The goal of this project is to minimize the total cost of holding inventory in the retail industry, particularly phone chargers at a MetroPCS Authorized Dealer. This is done using the Economic Order Quantity model, which is a formula that determines what order size minimizes the total inventory cost. For the MetroPCS, the ideal order size is 2887 chargers, resulting in the total inventory cost to be $2397.



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Advisors :
Arcadii Grinshpan, Mathematics and Statistics
Ala Awwad, MetroPCS
Suggested By :
Azra Kurtic