Y77Inventory Management Model: A New EOQ Approach for Risk Management
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The purpose of this study was to introduce the Yousef77 Inventory Management Model (Y77IMM) as a new economic order quantity EOQ approach for risk management enhancement. A mixed-method approach using grounded theory and descriptive statistics was utilized to develop the Y77IMM that was applied more than 4000 years ago. Results of the study show that the Y77IMM is efficient, flexible, adaptive, and efficiently able to forecast needed demands. Thus, the study suggests a full utilization of the Y77IMM. Finally, based on the results, implications and recommendations for further study were made.