A Technique for Evaluating Vendor Bids for Stock Replenishment of a Consumable Item.

Abstract

The Ships Parts Control Center (SPCC) Uniform Inventory Control Program (UICP) wholesale replenishment model for 1H cognizance symbol (consumable) material is an order quantity-reorder level or (Q,r) model. A stocked item's order quantity and reorder level are established in large part by the unit price and procurement lead time forecasted for it. When a replenishment is needed, the order quantity is specified and the procurement officer requests bids from vendors. These bids include both a unit price and production lead time. This thesis analyzes the influence of different bids with different unit price and different lead time on the future optimum total annual cost of stocking the item as computed by the UICP model. Based on this anlaysis, a simple technique to evaluate those bids is developed and steps to implement this technique are suggested. (Thesis)

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Document Details

Document Type
Technical Report
Publication Date
Jun 01, 1985
Accession Number
ADA159857

Entities

People

  • J. Steinberg

Organizations

  • Naval Postgraduate School

Tags

Communities of Interest

  • C4I
  • Ground and Sea Platforms

DTIC Thesaurus Topics

  • Air Force
  • Computations
  • Computer Programming
  • Computer Programs
  • Computers
  • Contracts
  • Inventory Control
  • Lead Time
  • Mainframe Computers
  • Normal Distribution
  • Optimization
  • Procedures (Computers)
  • Procurement
  • Random Variables
  • Replenishment
  • Standards
  • Two Dimensional

Readers

  • Industrial Economics
  • Logistics and Supply Chain Management.
  • Systems Analysis and Design