scholarly journals Advanced Methods of Mathematical Modelling and Their Use in the Inventory Management Model

2016 ◽  
pp. 1-8 ◽  
Author(s):  
Václav Olešovský
Keyword(s):  
Mathematical Modelling ◽  
Inventory Management ◽  
Management Model

APPLICATION OF PERIODIC REVIEW INVENTORIES MODEL IN A TYPICAL MEXICAN FOOD COMPANY

2021 ◽  
Vol 8 (1) ◽  
pp. 27-36
Author(s):  
Ramsés Cabrera-Gala ◽  
Luis Carreón-Nava ◽  
Hugo Valencia-Cuevas ◽  
León Rivera-Sosa
Keyword(s):  
Inventory Management ◽  
Management Model ◽  
Periodic Review ◽  
Food Company ◽  
Periodic Model ◽  
Santa Monica ◽  
Typical Food ◽  
The One ◽  
The City ◽  
Optimal Quantity

The Mexican family companies must face the challenges of market volatility with greater recurrence, forcing them to use effective tools and models for the proper management of their organizations and inherent activities, such as inventory management. Therefore, this research was carried out at “Moles Santa Monica”, a typical food company located in the city of Puebla, Mexico. This enterprise has reflected a high variability in the administration of its inventories, with a Coefficient of Variation (CV) greater than 0.2 in most of their portfolio products. In this way, the objective of this study was to propose an inventory management model that might reduce the shortages and overstock, and also; improves its performance and profitability when it is managed. The applied methods were Pareto and ABC model to choose correctly the best seller company products. The inventory management model chosen was the periodic review (R, S) as well, for being the most effective and the one that best suited the circumstances of the company in question. Three of the portfolio products were studied (MPP10, MPC10 and COP10) due to they are the most representative in incomes and valuables for the company managers. The results allowed us to propose the review periodic model (R), the optimal quantity of units to produce (Q), the safety stock (Ss) and the maximum inventory (S) for each product. We conclude that this model will help the company to face the uncertainty of the demand. Finally, we include limitations and future studies.

scholarly journals Application of ABC and XYZ Analysis to Inventory Optimization at a Commercial Enterprise

2020 ◽  
Vol 80 ◽  
pp. 01007
Author(s):  
T G Trubchenko ◽  
E S Kiseleva ◽  
M. A. Loshchilova ◽  
A N Dreval ◽  
T G Ryzhakina ◽  
...  
Keyword(s):  
Inventory Management ◽  
Consumer Demand ◽  
Management Model ◽  
Relevant Issue ◽  
Maintenance Costs ◽  
Inventory Optimization ◽  
Commercial Enterprise

Inventory management at an enterprise is the essential logistics function. Reducing inventory maintenance costs and optimizing the range of goods while focusing on consumer demand analy-sis are inextricably linked to inventory management methods. This article describes the differentiated inventory management model of the ABC-XYZ classification matrix in relation to the inven-tory of Karandash LLC commercial enterprise (Tomsk). Inventory management is a highly relevant issue, since the company has several branches, cooperates with many suppliers, and its range of office supplies includes more than 30 000 items. The ABC-XYZanalysis of the inventory of this commercial enterprise allowed us to determine strategies for optimizing inventory and to identify the groups that should be removed from the range, and, vice versa, should be available in stock due to constant demand.

Inventory management model in a butcher shop

2015 ◽  
pp. 30-51 ◽  
Author(s):  
Andrés Ordoñez Castano ◽  
Juan Pablo Orejuela Cabrera ◽  
Juan José Bravo
Keyword(s):  
Inventory Management ◽  
Management Model ◽  
Butcher Shop

scholarly journals Dynamics Analysis and Fractional-Order Approximate Entropy of Nonlinear Inventory Management Systems

2021 ◽  
Vol 2021 ◽  
pp. 1-8
Author(s):  
Tengfei Lei ◽  
Rita Yi Man Li ◽  
Haiyan Fu
Keyword(s):  
Lyapunov Exponent ◽  
Inventory Management ◽  
Approximate Entropy ◽  
Human Action ◽  
Management Model ◽  
Management Systems ◽  
Largest Lyapunov Exponent ◽  
Complex Nonlinear Systems ◽  
Definition Of ◽  
Special Circumstances

Inventory management is complex nonlinear systems that are affected by various external factors, including course human action and policy. We study the inventory management model under special circumstances and analyse the equilibrium point of the system. The dynamics of the system is analysed by means of the eigenvalue trajectory, bifurcations, chaotic attractor, and largest Lyapunov exponent diagram. At the same time, according to the definition of fractional calculus, the fractional approximate entropy is used to analyse the system, and the results are consistent with those of the largest Lyapunov exponent diagram, which shows the effectiveness of this method.

scholarly journals Designing Smart Supplier Chain Management Model under Big Data and Internet of Things Environmen

2019 ◽  
Vol 8 (2S6) ◽  
pp. 290-294
Keyword(s):  
Artificial Intelligence ◽  
Supply Chain ◽  
Internet Of Things ◽  
Inventory Management ◽  
Industrial Revolution ◽  
Management Model ◽  
Web Based ◽  
Chain Management ◽  
Smart Supply Chain Management ◽  
Business Requirements

Recently, the business paradigm has shifted to the direction of strengthening consumer-oriented process interconnections and thus demand diversity and volatility have increased. The automation, autonomy, and connectivity of the entire supply chain are emphasized on the basis of the fourth industry technology such as Internet of things and artificial intelligence. In this paper, we propose a smart Supply Chain Management model that accommodates current high technological issues and business requirements under 4th industrial revolution era. The proposed web based SCM consists of automatic ordering/purchasing system, artificial intelligence based appropriate inventory computation system based on Monte Carlo simulation, and detachable IoT based inventory management system. The system is expected to be a sophisticated and intelligent smart SCM solution that adheres to logistics standards for visibility, safety and efficiency.

scholarly journals The Inventory Management Model for Enhancing the Performance of Retail Companies

Upravlenets ◽  
2017 ◽  
Vol 69 (5) ◽  
pp. 98-111
Author(s):  
Konstantin S. Tedeev ◽  
◽  
Lyudmila G. Protasova ◽  
Keyword(s):  
Inventory Management ◽  
Management Model
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