Inventory Control at AQ Electric Suzhou
Abstract: This report details the process and result of developing a mathematical inventory control model to be use by AQ Electric Suzhou. The mathematical model was written in Microsoft Excels inherent programming language Visual Basic and utilizes printouts such as sales history, bill of materials, component data etc. from AQ Electric Suzhous ERP system Monitor to derive a demand history for each component. Each component is then given a compound Poisson lead time demand distribution with an optimization of reorder point in a (R,Q) continuous review inventory system with regards to service level and maximum inventory constraints. The results were that AQ Electric Suzhou would find it difficult to achieve the target on time delivery and target inventory turn rate simultaneously without changing input parameters such as minimum order quantities and lead times.
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