Shelf life-based inventory management policy for RF monitored warehouse

2018 ◽  
Vol 9 (3-4) ◽  
pp. 101-111 ◽  
Author(s):  
R. Micale ◽  
G. La Scalia
Keyword(s):  
Shelf Life ◽  
Inventory Management ◽  
Management Policy

scholarly journals An Inventory Model for Deteriorating Drugs with Stochastic Lead Time

2018 ◽  
Vol 15 (12) ◽  
pp. 2772 ◽  
Author(s):  
Jian Li ◽  
Lu Liu ◽  
Hao Hu ◽  
Qiuhong Zhao ◽  
Libin Guo
Keyword(s):  
Shelf Life ◽  
Inventory Management ◽  
Lead Time ◽  
Service Level ◽  
Inventory Model ◽  
Effective Management ◽  
Product Availability ◽  
Stochastic Lead Time ◽  
Random Lead Time ◽  
The Right

Inventory management of deteriorating drugs has attracted considerable attention recently in hospitals. Drugs are a kind of special product. Two characteristics of some drugs are the shorter shelf life and high service level. This causes hospitals a great deal of difficulty in inventory management of perishable drugs. On one hand, hospitals should increase the drug inventory to achieve a higher service level. On the other hand, hospitals should decrease the drug inventory because of the short shelf life of drugs. An effective management of pharmaceuticals is required to ensure 100% product availability at the right time, at the right cost, in good conditions to the right customers. This requires a trade-off between shelf-life and service level. In addition, many uncontrollable factors can lead to random lead time of drugs. This paper focuses on deteriorating drugs with stochastic lead time. We have established a stochastic lead time inventory model for deteriorating drugs with fixed demand. The lead time obeyed a certain distribution function and shortages were allowed. This model also considered constraints on service level, stock space and drug shelf life. Through the analysis of the model, the shelf life of drugs and service level were weighted in different lead time distributions. Empirical analysis and sensitivity analysis were given to get reach important conclusions and enlightenment.

Analisis Pengendalian Persediaan Barang Pupuk Dengan Metode Economic Order Quality Pada Perusahaan Maju Mapan

2021 ◽  
Vol 2 (1) ◽  
pp. 7-14
Author(s):  
Dini Fitriani
Keyword(s):  
Inventory Management ◽  
Management Policy ◽  
Economic Order Quantity ◽  
Economic Order ◽  
Order Quantity ◽  
Inventory Cost ◽  
Sales Process ◽  
Main Activity ◽  
A Company

The Maju Mapan Company is a company engaged in trading, whose main activity is selling fertilizer types. In carrying out sales activities, it is closely related to merchandise inventory which is an important component that must be available for the smooth running of the sales process. This study aims to determine the quantity of economical fertilizer merchandise inventory using the Economic Order Quantity method. From the results of calculations that have been done by comparing the current trading goods inventory management policy in the company with the EOQ method in the procurement of merchandise, it can be concluded that by using the EOQ method, the quantity of EOQ orders is higher than the order according to the company, but if the company uses the method EOQ, the company will save an inventory cost of Rp. 48,546,480

Inventory Management in Competition Environment Based on Customer Service

2011 ◽  
Vol 58-60 ◽  
pp. 2141-2146
Author(s):  
Xiao Di ◽  
Bao Xing
Keyword(s):  
Supply Chain ◽  
Supply Chains ◽  
Customer Service ◽  
Inventory Management ◽  
Demand Uncertainty ◽  
Management Policy ◽  
Management Decision ◽  
Inventory Level ◽  
On Demand ◽  
Optimal Policies

Based on demand uncertainty, the paper studies inventory management decision of two competing supply chains from the perspective of customer service. The paper mainly discusses two different inventory strategies, which are widely used, that is, consignment stock and VMI, and analyzes the optimal policies under three competitive scenarios, which consist of using consignment stock in both supply chains (CC mode), using VMI in both supply chains (DD mode), and using consignment stock in one supply chain but VMI another (VC mode). The paper compares equilibrium inventory level and profit of supply chain in different competitive modes, and concludes that both supply chains use VMI is equilibrium, which means that when manufacturers have right to choose inventory management policy, they prefer VMI. But it isn’t paradoxical with the phenomenon that consignment stock is common in reality, because manufacturers are forced to use consignment by retailer’s channel power.

A Distributed Model Predictive Control Strategy for the Bullwhip Reducing Inventory Management Policy

2019 ◽  
Vol 15 (2) ◽  
pp. 932-941 ◽  
Author(s):  
Dongfei Fu ◽  
Hai-Tao Zhang ◽  
Ying Yu ◽  
Clara Mihaela Ionescu ◽  
El-Houssaine Aghezzaf ◽  
...  
Keyword(s):  
Model Predictive Control ◽  
Inventory Management ◽  
Predictive Control ◽  
Control Strategy ◽  
Management Policy ◽  
Distributed Model ◽  
Distributed Model Predictive Control

scholarly journals THE FORMATION AND EFFECTIVE USE OF INVENTORIES BY ENTERPRISES

2021 ◽  
pp. 81-92
Author(s):  
Svitlana Koshelenko
Keyword(s):  
Inventory Management ◽  
Management Policy ◽  
Foreign Firms ◽  
Main Trend ◽  
Just In Time ◽  
Modern Approach ◽  
Doing Business ◽  
The Subject ◽  
Direct Delivery ◽  
Effective Use

The article considers the issues of formation and effective use of inventories by enterprises. It is confirmed that the subject of the inventory management policy consists of two main blocks: the inventory formation policy and the inventory use management policy. Inventory formation management occurs by applying inventory management models. Inventory use management performed by means of indicator calculations of reserves effective use. Inventories are grouped and classified according to the most important features. Inventory management tasks and exiting models is carried out, which takes into account the classic and modern approach to doing business. It is proved that the concepts previously used fail to justify themselves in the new conditions. It is established that most companies in the world improve the efficiency of inventory management as follows: rationalization of processes between companies, shifting ownership of inventory towards suppliers (implementation of the principle of “inventory managed by supplier”), direct delivery of finished products to the consumer in accordance with his wishes and financial capabilities, inventory management using the principle of “just in time”, introduction of flexible (lean) production, etc. Thus, the main trend of foreign firms, in contrast to domestic ones, is the spread of the concept of inventory minimization. Nine provisions (theses) have been formulated for the methodology of forming various for managing inventory values of an enterprise.

scholarly journals Continuous Genetic Algorithms in the Optimization of Logistic Networks: Applicability Assessment and Tuning

2020 ◽  
Vol 10 (21) ◽  
pp. 7851
Author(s):  
Przemysław Ignaciuk ◽  
Łukasz Wieczorek
Keyword(s):  
Inventory Management ◽  
Numerical Experiments ◽  
Fitness Function ◽  
Management Policy ◽  
Uncertain Demand ◽  
Satisfaction Level ◽  
Contact Points ◽  
Operational Costs ◽  
Distribution Process ◽  
Continuous Genetic Algorithm

Globalization opens up new perspectives for handling goods distribution in logistic networks. However, establishing an efficient inventory policy is challenging by virtue of the analytical and computational complexity. In this study, the goods distribution process that was governed by the order-up-to policy, implemented in either a distributed or centralized way, was investigated in the logistic systems with complex interconnection topologies. Uncertain demand may be imposed at any node, not just at conveniently chosen contact points, with a lost-sales assumption that introduces a non-linearity into the node dynamics. In order to adjust the policy parameters, the continuous genetic algorithm (CGA) was applied, with the fitness function incorporating both the operational costs and customer satisfaction level. This study investigated how to select the parameters of the popular inventory management policy when operating in the non-trivial networked structures. Moreover, precise guidelines for the CGA tuning in the considered class of problems were provided and evaluated in extensive numerical experiments.

Supplying networks in the healthcare sector

2016 ◽  
Vol 116 (8) ◽  
pp. 1493-1519 ◽  
Author(s):  
Chiara Paltriccia ◽  
Lorenzo Tiacci
Keyword(s):  
Inventory Management ◽  
Management Policy ◽  
Healthcare Sector ◽  
Collaborative Network ◽  
Periodic Review ◽  
Materials Management ◽  
Positive Interaction ◽  
Content Type ◽  
Two Factors

Purpose The purpose of this paper is to present a new outsourcing model for materials management related to the operating theatre of hospitals. Two distinguishing features characterize the model: the long-term collaborative network established among the supplying companies (the “Network factor”), and the implementation of the RFID technology along the supply chain (the “RFID factor”). The network factor allows sharing transportation costs, while the RFID factor allows implementing a continuous review policy, instead of the periodic review policy normally utilized in hospitals. In the paper the effect of these two factors on the minimization of total materials management costs is investigated. Design/methodology/approach An analytical model, validated through a simulation study, is proposed to calculate total management costs of materials, depending on the presence of the network and the RFID factors. Throughout the model it is possible to perform a scenario analysis and individuate the inventory management policy that allows minimizing total costs. The procedure has been applied to a real case study of a long-term collaborative network of supplying companies in the healthcare sector that operates in Central Italy. Findings The optimal inventory management policy strongly depends on the mutual distances of supplying companies and the hospital. Both of the two factors have an impact on the reduction of total annual costs. The analysis of the scenario shows that a positive interaction effect exists between the two factors, so that higher savings are obtained when both factors are present. Originality/value The outsourcing model presented in the paper is new, and the managerial insights that can be drawn from the application of the model to the healthcare sector can be extended to many other industries.

scholarly journals BENEFIT EVALUATION OF REST AREAS IN THE INTERSTATE HIGHWAY NETWORK Case Study Cikopo Palimanan (Cipali) Rest Areas

2020 ◽  
Vol 21 (1) ◽  
pp. 47-58
Author(s):  
Tetty Sulastry Mardiana
Keyword(s):  
Inventory Management ◽  
Government Regulation ◽  
Average Duration ◽  
Management Policy ◽  
Primary Data ◽  
Toll Roads ◽  
Toll Road ◽  
Rest Areas ◽  
Management Policies ◽  
High Level

Cikampek-Palimanan so called Toll Cipali is a part of trans-Java network, also the longest road in Indonesia along 116.75 km. In Government Regulation No. 15 of 2005, among others, set on every intercity toll roads are equipped with rest area  (rest area ) and services for the benefit highway users. The presence of the rest area  is expected to solve the congestion concentration in one point (the toll booth), so that the process to unravel congestion during peak times is more easily implemented. This study aimed to get an idea of the importance of rest area along the Cipali road in meeting basic needs and expectations of users of toll roads and his contribution to unravel congestion along cikampek-palimanan toll road. This study uses a quantitative descriptive approaches. The types and sources of data, namely primary data by observation in the field and interviews or questionnaires to users and managers rest area  cikampek-palimanan toll road km 130 and km 166. The scope of the research starts from the inventory results of studies that have been done before, inventory management policies toll road, inventory management policies rest area , rest area  existing capacity analysis, analysis based on rest area  user expectations, analysis of toll road management policy, analysis of management policies rest area , conclusions and recommendations. The result is that level of expediency rest area  km 130 states that the benefit level is moderate and the rest area  at km 166 expressed high level of expediency rest area . The average vehicle entry / min at rest area  KM 130 is 1.23 vehicle / min, and the vehicle exit is as much as 1:29 vehicle / min. With an average duration of parking per vehicle for 24 minutes. The average vehicle entry / min at rest area  166 is 2 vehicles / minute, and the vehicle exit is as much as 1 vehicle / min. With an average duration of parking per vehicle for 39 minutes. Location of the rest area  to another rest area  along cikampek-palimanan toll road has been compliance with applicable laws, less than 50 kilometers (farthest distance is 28.4 km from the rest area  rest area  km 102 to km 130). Locations rest area  KM 130 and 166 toward palimanan based Technical Guidelines How Siting Rest in Highway No.037 / T / BM / 1999, already exceeding the positioning or the distance from the toll gate to the facility location based fatigue resting place for driver, which is 20.3 km (rest area  km 130) and 8.7 km (rest area  km 166).

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