scholarly journals A Manufacturing Industry Case Study: ABC and HML Analysis for Inventory Management

2020 ◽  
Vol 3 (9) ◽  
pp. 146-149
Author(s):  
Pragati Jadhav ◽  
Maheshwar Jaybhaye
Keyword(s):  
Inventory Control ◽  
Inventory Management ◽  
Manufacturing Industry ◽  
Unit Cost ◽  
Work Force ◽  
Contextual Analysis ◽  
Cost Information ◽  
Control Activity ◽  
Abc Analysis

This article is a contextual analysis of ABC and HML examination of inventory control methods for an effective Inventory administration framework in the assembling business of India. The organization needs to control its inventory expense, so it utilized various kinds of inventory methods to control this. There are various strategies, for example, ABC, HML, VED, XYZ and S-O-S. In the ABC analysis, things are classifications in classifications A, B, C as per the utilization of the all-out expense. In the HML analysis, things are classifications in H, M, L classification as per the unit cost. Information assortment is chiefly a year through the head supervisor of the store and other work force associated with the Inventory control activity of the assembling business.

scholarly journals A Cobb-Douglas estimation of labour productivity in the South African motor vehicle manufacturing industry

1995 ◽  
Vol 21 (1) ◽  
Author(s):  
G. Van Zyl ◽  
E. P. J. Kleynhans
Keyword(s):  
South African ◽  
Manufacturing Industry ◽  
Motor Vehicle ◽  
Labour Productivity ◽  
Unit Cost ◽  
The South ◽  
Low Level ◽  
Motor Vehicle Industry

The objective of the paper is to demonstrate the use of an unique extention of the Cobb-Douglas efficiency criteria for the measurement and quantification of labour productivity. The South African motor vehicle manufacturing industry is used as a case study. This paper adopts the hypothesis that one of the more important factors contributing to the spiralling unit cost in the motor vehicle industry is the sluggish level of labour productivity. The results of the measurements are indeed interesting and it substantiates the hypothesis that the low level of labour productivity does contribute significantly to the increasing unit cost of the industry. Opsomming Die oogmerk van die artikel is om 'n unieke uitbreiding van die Cobb-Douglas doelmatigheidskriteria in die meting en kwantifisering van arbeidsproduktiwiteit bekend te stel. Die Suid-Afrikaanse motorindustrie is as 'n gevalle studie gebruik. Die artikel stel die hipotese dat een van die belangrike bydraende faktore tot die toenemende eenheidskoste in die Industrie die oenskynlike gebrek aan arbeidsproduktiwiteit is. Die resultate van die metings is interessant en staaf die hipotese dat die kontinue lae vlak van arbeidsproduktiwiteit in die bedryf 'n sterk bydraende faktor tot stygende eenheidskoste en die oneffektiewe samestelling van die arbeid/kapitaal insetkombinasie is.

scholarly journals On the Use of Importance Measures in the Reliability of Inventory Systems, Considering the Cost

2020 ◽  
Vol 10 (21) ◽  
pp. 7942
Author(s):  
Liwei Chen ◽  
Meng Kou ◽  
Songwei Wang
Keyword(s):  
Inventory Control ◽  
Inventory Management ◽  
Inventory Systems ◽  
Optimization Analysis ◽  
Proposed Model ◽  
Important Approach ◽  
Total Inventory ◽  
Inventory Control Model ◽  
The Cost

In order to maximize inventory benefits or minimize costs, reliability and cost of inventory control models need to be identified and analyzed. These importance measures are one important approach to recognize and evaluate system weaknesses. However, importance measures have fewer applications in inventory systems’ reliability. Considering the cost, this paper mainly discusses the reliability change of performance parameters with the importance measures in inventory systems. The calculation methods of differential importance and Birnbaum importance are studied in the inventory control model with shortages. By comparing the importance values of various parameters in the model, the optimization analysis of the inventory model can be used to identify the key parameters, so as to effectively reduce the total inventory cost. The importance order and the identification of key parameters are helpful to increase the operational efficiency of the inventory control and provide effective methods for improving the inventory management. Lastly, a case study with a shortage and limited inventory capacity is used to demonstrate the proposed model.

Computerised inventory management for a manufacturing industry: A case study in Nigeria

2014 ◽  
Vol 6 (4) ◽  
pp. 275-279 ◽  
Author(s):  
Emmanuel Seye Owoeye ◽  
Samuel Babatope Adejuyigbe ◽  
Bukola Olalekan Bolaji ◽  
A.F. Adekoya
Keyword(s):  
Inventory Management ◽  
Manufacturing Industry

scholarly journals Multi Unit Spares Inventory Control-Three Dimensional (MUSIC 3D) Approach to Inventory Management

2019 ◽  
Vol 5 (1) ◽  
pp. 19-27
Author(s):  
Zaidatun Ni'mah ◽  
Yuniar Farida
Keyword(s):  
Inventory Control ◽  
Inventory Management ◽  
Three Dimensional ◽  
Income Category ◽  
Maximum Profit ◽  
Abc Analysis

Inventory control is a series of efforts that need to be done for each company to generate the maximum profit from existing inventory. In this study inventory control was conducted through the Multi-Unit Spares Inventory Control – Three Dimensional (MUSIC 3D) approach at PT Fajar Mas Murni Surabaya using three analysis, namely ABC analysis, SDE analysis, and FSN analysis. The result of ABC analysis show that category A consists of 6 items (3%) which contribute 81% to company income, category B consists of 16 items (8%) which contributes 15% to company income, while category C consists of 190 items (89%) which contribute 4% to company income. The result of SDE analysis shows that category S consists of 127 items (60% of all items), category D consists of 43 items (20% of all items), while category E consist of 42 items (20% of all items). The result of FSN analysis show that category F consists of 15% (7% of all items), category S consists of 41 items (19% of all items) and category N consists of 156 items (74% of all items).

scholarly journals ABC analysis of drugs used in health camps organized in villages of Chintamani taluk, Karnataka, India

2016 ◽  
Vol 4 (1) ◽  
pp. 186
Author(s):  
Chethana T. ◽  
Babitha Rajan ◽  
Archana Selvaraj ◽  
Pruthvish S.
Keyword(s):  
Inventory Management ◽  
Unit Cost ◽  
Drug Acquisition ◽  
Drug Expenditure ◽  
Management Control ◽  
Total Consumption ◽  
Total Cost ◽  
Utmost Care ◽  
Abc Analysis ◽  
Storage Distribution

Background: Tracking of drug acquisition, storage, distribution, and utilization are to be handled properly with utmost care to eliminate wastage and to ensure scientific continuity of supplies. The present study was done with the objective to conduct the economic analysis of drug expenditure and to identify the categories of items needing stringent management control for health camps.  Methods: The study was done among health camps conducted in the 10 villages of Chintamani taluk during December 2015. For Always Better Control (ABC) analysis, the consumption of all the drugs was calculated after multiplying unit cost by total consumption and resulting figures were arranged in descending order of rupee value.Results: The drugs were classified in to A B C groups according to total cost consumed 70%, 20%, and 10% respectively. The total cost incurred for procurement of drugs in these camps was Indian rupees 12872.93. We found that 15.78% of drugs were in category A. If we were to manage drug inventory solely based on ABC analysis, supervision of only 6 drugs would have resulted in control over approximately 70% of the drug budget.        Conclusions: Thus ABC inventory management analysis of health camps will promote effective management of drug inventory with minimal monetary resources and will contribute to provision of uncompromised patient care.

Simulation of different reordering policies for optimizing the inventory of perishable food: an Italian case study

2021 ◽  
Vol 0 (0) ◽  
Author(s):  
Elena Piva ◽  
Letizia Tebaldi ◽  
Giuseppe Vignali ◽  
Eleonora Bottani
Keyword(s):  
Simulation Model ◽  
Inventory Management ◽  
Typical Case ◽  
Perishable Products ◽  
Order Interval ◽  
Perishable Items ◽  
Food And Beverages ◽  
Italian Case ◽  
Abc Analysis

Abstract Inventory management represents one of the main criticalities that companies have to face. The challenge is twofold: being able to satisfy a demand whose behavior can significantly vary and be unpredictable in order to avoid stock-out situations, whilst limiting excessive stocks and consequently costs. Some factors can complicate this already inherently difficult task. An example is the presence of constraints on the time for storage, which is the typical case for perishable products such as food and beverages, core business of the Italian company subject of the case study described in this paper. To optimize the reorder process in that context, a simulation model was developed for evaluating the potentials of three traditional reordering policies (i.e., Re-Order Point, Re-Order Interval, and (s, S)) to be applied to a set of products managed by the company, including perishable items, and for testing their performance. The items tested were selected through a preliminary ABC analysis, carried out on the volumes handled. A comparison with the current performance of the company’s and that achievable with the optimized policies is proposed.

ANALISA PENGENDALIAN PERSEDIAAN GUDANG BARANG JADI DENGAN ANALISA ABC PADA PERUSAHAAN CAT PT. PR

2019 ◽  
Vol 4 (1) ◽  
pp. 63
Author(s):  
Dian Friana Hidayat ◽  
Ossa Sutaarga ◽  
Akhmad Fakhrurozi
Keyword(s):  
Data Collection ◽  
Data Processing ◽  
Inventory Control ◽  
Inventory Management ◽  
Research Method ◽  
Abc Classification ◽  
Total Product ◽  
Collection Data ◽  
Abc Analysis ◽  
A Company

This research was conducted at a company that produces paints such as wall paint, tile paint, floor paint, steel construction paint and many other types of paint. In addition to these types of paint, color and size are additional factors that cause high product variants. Inventory management with ABC analysis is very necessary to control a number of inventories by taking into account the value of the investment. Based on company conditions and literature, the purpose of this study is to be able to classify inventory in the company and be able to determine inventory control based on ABC classification. The research method is divided into four stages, namely data formulation, data collection, data processing, and analysis and conclusions. Data processed is in 2016, available product variants are 941 items with a total product value of Rp 15,477,094,182.00. The results of ABC analysis are 124 product items or 13.18% A class, 211 product items or 22.42% B class, and 606 product items or 64.40% C class of the total number of products available.Key words :  Paint, Inventory Control, ABC Classification

scholarly journals INVENTORY CONTROL USING ABC AND HML ANALYSIS – A CASE STUDY ON A MANUFACTURING INDUSTRY

2014 ◽  
pp. 283-288
Author(s):  
SHIBAMAY MITRA ◽  
SUJIT KUMAR PATTANAYAK ◽  
PAPIYA BHOWMIK
Keyword(s):  
Control System ◽  
Supply Chains ◽  
Inventory Control ◽  
Manufacturing Industry ◽  
Intelligent System ◽  
Optimum Level ◽  
Analysis Method ◽  
Inventory Replenishment ◽  
And Control

Inherent uncertainties in demands and supply make it difficult for supply chains to achieve optimum inventory replenishment, resulting in loss of sales or keeping excessive inventories. An unkempt inventory can take up to one-third of an organization’s annual investment. Therefore, in order to compete with invariably erratic demands, it is not only challenging to develop an intelligent system to maintain and control an optimum level of inventory but has also become mandatory. Here we have tried to study the inventory control system of an EMU coach manufacturing industry using ABC and HML analysis method.

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