Date of Award
1988
Document Type
Thesis
Department
Business
Abstract
This research paper was conducted in an effort to develop a better material management program for Hankins and Johann, Inc. Some simple models such as the two bin system, and more sophisticated models, such as manufacturing resources planning (MRP II), were investigated. Although it became apparent that the sophisticated models were currently not necessarily applicable to the Hankins and Johann situation, the research of these models helped to uncover the primary goal of all such models: To maximize the economic use of available resources in the day to day operation of a company. To move Hankins and Johann in this direction will require: 1) classification of inventory, 2) installation of a two-bin system, 3) implementation of EOQ theory, 4) installation of computer programs to gather data for and maintain a stochastic re-order point model, and 5) establishment of Material Requirement Planning (MRP) procedures. This paper explains in detail how this is being and will continue to be accomplished at Hankins and Johann.
Recommended Citation
Johann, R. M., "The development of a material management program for Hankins & Johan, Inc." (1988). Master's Theses. 527.
https://scholarship.richmond.edu/masters-theses/527