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2017 | OriginalPaper | Chapter
5. Procurement Cost
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Abstract
Components associated with the procurement cost are explained. With respect to certain changes, procurement cost might get reduced or increased. With procurement cost reduction, effects on the output parameters such as total relevant cost and procurement lot size are presented in this chapter. In the context of procurement cost increase, such effects are also discussed. After incorporating stock out inclusion, results are tabulated with reference to a downward or upward revision of purchase cost.