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<records>
  <record>
    <language>eng</language>
    <publisher>Science and Education Publishing</publisher>
    <journalTitle>American Journal of Applied Mathematics and Statistics</journalTitle>
    <eissn>2333-4576</eissn>
    <publicationDate>2014-09-21</publicationDate>
    <volume>2</volume>
    <issue>5</issue>
    <startPage>307</startPage>
    <endPage>317</endPage>
    <doi>10.12691/ajams-2-5-3</doi>
    <publisherRecordId>AJAMS2014253</publisherRecordId>
    <documentType>article</documentType>
    <title language="eng">Application of Inventory Model in Determining Stock Control in an Organization</title>
    <authors>
      <author>
        <name>Hycinth Chukwudi Iwu</name>
        <affiliationId>1</affiliationId>
      </author>
      <author>
        <name>Chukwudi J. Ogbonna</name>
        <affiliationId>1</affiliationId>
      </author>
      <author>
        <name>Opara Jude</name>
        <email>judend88@yahoo.com</email>
        <affiliationId>2</affiliationId>
      </author>
      <author>
        <name>Kalu Georgina Onuma</name>
        <affiliationId>2</affiliationId>
      </author>
    </authors>
    <affiliationsList>
      <affiliationName affiliationId="1">Federal University of Technology Owerri Nigeria PMB 1526, Owerri Nigeria</affiliationName>
      <affiliationName affiliationId="2">Department of Statistics, Imo State University PMB 2000, Owerri Nigeria</affiliationName>
    </affiliationsList>
    <abstract language="eng">This paper investigates the application of inventory model in determining stock control in an organization. A multi-product Economic Order Quantity model was used to determine the optimal order times. The result of the analysis revealed that J.O. Adimoha's investment does not have a proper inventory management which leads them to sometimes either over stock or under stock. The combination of orders at different time interval was carefully and constantly updated and verified because reorder points and EOQ may change. In conclusion, it was discovered that reorder points often coincides close together.</abstract>
    <fullTextUrl format="pdf">http://pubs.sciepub.com/ajams/2/5/3/ajams-2-5-3.pdf</fullTextUrl>
    <keywords language="eng">
      <keyword>inventory</keyword>
      <keyword>economic order quantity</keyword>
      <keyword>average stock</keyword>
      <keyword>abc analysis</keyword>
      <keyword>holding cost</keyword>
      <keyword>safety stock</keyword>
    </keywords>
  </record>
</records>