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Conference Paper: An intelligent approach for managing materials purchasing in the RMC industry
Title | An intelligent approach for managing materials purchasing in the RMC industry |
---|---|
Authors | |
Keywords | Control EOQ JIT Multi-agent system |
Issue Date | 2008 |
Publisher | Vilnius Gediminas Technical University. |
Citation | Internal Symposium on Automation and Robotics in Construction (ISARC 2008), v. 1, p. 515-520 How to Cite? |
Abstract | A model for comparing the inventory costs of purchasing under the economic order quantity (EOQ) system and the just-intime (JIT) order purchasing system in existing literature concluded that JIT purchasing was virtually always the preferable inventory ordering system especially at high level of annual demand. By expanding the classical EOQ model, this paper shows that it is possible for the EOQ system to be more cost effective than the JIT system once the inventory demand approaches the EOQ-JIT cost indifference point. The intelligent agent paradigm, a natural fit to solve dynamic materials control problem, however has seldom been deployed in construction material management. Based on the EOQ-JIT cost indifference point function, an alternative agent based inventory management system is thus developed. A case study demonstrates how the equation affects the purchasing approach of a material. |
Persistent Identifier | http://hdl.handle.net/10722/115966 |
References |
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Wu, M | en_HK |
dc.contributor.author | Rowlinson, S | en_HK |
dc.date.accessioned | 2010-09-26T06:09:32Z | - |
dc.date.available | 2010-09-26T06:09:32Z | - |
dc.date.issued | 2008 | en_HK |
dc.identifier.citation | Internal Symposium on Automation and Robotics in Construction (ISARC 2008), v. 1, p. 515-520 | en_HK |
dc.identifier.uri | http://hdl.handle.net/10722/115966 | - |
dc.description.abstract | A model for comparing the inventory costs of purchasing under the economic order quantity (EOQ) system and the just-intime (JIT) order purchasing system in existing literature concluded that JIT purchasing was virtually always the preferable inventory ordering system especially at high level of annual demand. By expanding the classical EOQ model, this paper shows that it is possible for the EOQ system to be more cost effective than the JIT system once the inventory demand approaches the EOQ-JIT cost indifference point. The intelligent agent paradigm, a natural fit to solve dynamic materials control problem, however has seldom been deployed in construction material management. Based on the EOQ-JIT cost indifference point function, an alternative agent based inventory management system is thus developed. A case study demonstrates how the equation affects the purchasing approach of a material. | en_HK |
dc.language | eng | en_HK |
dc.publisher | Vilnius Gediminas Technical University. | en_HK |
dc.relation.ispartof | ISARC 2008 - Proceedings from the 25th International Symposium on Automation and Robotics in Construction | en_HK |
dc.subject | Control | en_HK |
dc.subject | EOQ | en_HK |
dc.subject | JIT | en_HK |
dc.subject | Multi-agent system | en_HK |
dc.title | An intelligent approach for managing materials purchasing in the RMC industry | en_HK |
dc.type | Conference_Paper | en_HK |
dc.identifier.email | Rowlinson, S:hrecsmr@hkucc.hku.hk | en_HK |
dc.identifier.authority | Rowlinson, S=rp01020 | en_HK |
dc.description.nature | link_to_subscribed_fulltext | - |
dc.identifier.scopus | eid_2-s2.0-84863003796 | en_HK |
dc.identifier.hkuros | 150153 | en_HK |
dc.relation.references | http://www.scopus.com/mlt/select.url?eid=2-s2.0-84863003796&selection=ref&src=s&origin=recordpage | en_HK |
dc.identifier.volume | , v. 1 | en_HK |
dc.identifier.spage | 515 | en_HK |
dc.identifier.epage | 520 | en_HK |
dc.identifier.scopusauthorid | Wu, M=55266336500 | en_HK |
dc.identifier.scopusauthorid | Rowlinson, S=7003696228 | en_HK |