Inventory Order Quantity -A Heuristic Approach-

Abstract

Ever since the scientific approach was introduced to business, management science has become the domain of scientific researchers. There is a proliferation of researches and articles which attempted to explain and answer management phenomena and problems by applying such scientific approaches as operations research, mathematics, statistics and so forth.

In reality, however, not all managers have enough backgrounds to understand these rigorous approaches. It is almost natural that they are irritated and frustrated by the numerous equations and formulas which most business consultants and books advise them to use for better management.

Furthermore, most theories generated from these researches assume accurate and complete information about their topics. More often than not, this assumption is not realized.