The graphical-empirical method

Abstract

A number of variants of the graphical-empirical method are described in the literature. It is the simplest and most understandable, but in most cases also the most laborious method. Despite this drawback, however, the graphical-empirical method constitutes an excellent introductory study not only for those engaged in mastering the principles of inventory control, but also for companies planning to introduce these principles for the first time, since it provides a step-by-step analysis of events. At the same time, every effort should be made to ensure an eventual change to one of the other methods, described later, since they are less time-consuming.