NDLI: A new EOQ model for the life inventory of tools

Content Provider	IEEE Xplore Digital Library
Author	Chao Xu Baozhi Xie
Copyright Year	2008
Description	Author affiliation: Sch. of Mech. Eng., Southeast Univ., Nanjing, China (Chao Xu; Baozhi Xie)
Abstract	The traditional inventory model is on the assumption that the goods or materials in the inventory are lifeless. It is weak for the traditional theories of inventory to give a substantial description for the kinds of goods with some applicable lifecycle such as tools and molds. In this paper, tool inventory is taken as the discussed topic and a new tool life inventory model with some self-digesting engine is presented. Based on the performance analysis of the inventory, a new EOQ model is worked out. The data simulation of the model shows that it is better to describe the practical behavior of the tool life inventory. The cost of the inventory varies with its recovering ability and will be lower than that of the traditional inventory in some range. The traditional lifeless inventory model is just a special case of the economic life inventory model.
Starting Page	709
Ending Page	713
File Size	812956
Page Count	5
File Format	PDF
ISBN	9781424426294
DOI	10.1109/IEEM.2008.4737961
Language	English
Publisher	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Publisher Date	2008-12-08
Publisher Place	Singapore
Access Restriction	Subscribed
Rights Holder	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Subject Keyword	Chaos Cutting tools Production systems Costs EOQ Mechanical engineering Environmental economics Engines Manufacturing processes Supply and demand Life inventory model Performance analysis Tool
Content Type	Text
Resource Type	Article

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4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
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