Abstract:
SUMMARY Todays business organizations have been surrounded by continuously chancing environmental conditions and many of the business decisions must be given under uncertanity. These conditions face the decision makers to systematize their decision making process. By the purpose of meeting the needs of decision makers, almost in every area of management, mathematical models have been developed. Among them are the stock control models, which are the subject matter of this study. Stock control models are developed in order to specify the most appropriate stock policies dealing with the best solution of the problem of "how much to order, when to order". This study aims to examine the basic stock control models in both aspects; theoritical and practical ability. The models included in this study are classified into according to the characterises of the optainable data as deterministic and probabilistic. The necessary definitions for the analysis of stock control models are given to meet the preliminary requirements. Then, the structure of stock control problem and decision variables are determined. The study deals with the stock control system; such as; fixed order quantity systems, fixed order period systems and fixed order quantity- order period systems. According to mentioned classification, basic and various deterministic EQQ model cases are examined and its extensions for back order is dicussed. The fact that material management functions must be applied is a vital requirement for every organization. Therefore a study in a textile factory is conducted in order to put a deterministic stock control model into practice.
