A model for evaluating proposals from multiple vendors which have different prices and lead times
Childress, Duane Allen.
McMasters, Alan W.
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This thesis presents a PC-based Best Value model which can be used to evaluate up to three vendor proposals for manufacture of a consumable secondary item. This software is designed to run on EXCEL 5.0 or equivalent applications. Both bid price and production lead time for a given order quantity are considered. The model calculates the minimum expected total annual inventory management costs associated with the item for each vendor These costs include ordering, holding, backordering, and procurement costs of the item. This thesis provides the mathematical development of the model, illustration of the calculations, and a user's guide for the program. This thesis also compares the current Navy's Flexible Computer-Aided Manufacturing (FCIM-DSS) model with the Best Value model.