scholarly journals Optimizing Firm Inventory Costs as a Fuzzy Problem

2014 ◽  
Vol 37 (1) ◽  
pp. 89-105 ◽  
Author(s):  
Dariusz Kacprzak ◽  
Witold Kosiński
Keyword(s):  
Inventory Management ◽  
Optimization Problem ◽  
Fuzzy Numbers ◽  
Fuzzy Optimization ◽  
Inventory Cost ◽  
Total Cost ◽  
Inventory Costs ◽  
Inventory Management System ◽  
Fixed Order ◽  
Total Cost Function

AbstractThe fixed order quantity model of inventory management system is used in the deterministic part. Several elements of inventory cost, such as ordering cost, transportation and storing costs, frozen capital cost, as well as extra rebates, are taken into account in the model. Then the fuzzy optimization problem for the total cost function is formulated within the space of Ordered Fuzzy Numbers when all variables of the model are fuzzy. After the choice of a particular defuzzification functional an appropriate theorem is formulated which gives the solution of the problem.

Analysis and Design of Supply Chain Inventory Management System under Internet of Things Environment

2014 ◽  
Vol 989-994 ◽  
pp. 5520-5523 ◽  
Author(s):  
Zhi Ping Peng
Keyword(s):  
Internet Of Things ◽  
Real Time ◽  
Inventory Management ◽  
Warehouse Management ◽  
Analysis And Design ◽  
Inventory Costs ◽  
Inventory Management System ◽  
Internet Of Things Environment ◽  
Intelligent Management ◽  
Networking Technology

The networking technology in warehouse management can be automated cargo management, operations and real-time access to inventory. Application networking technology greatly reduces the workload of warehouse management and unnecessary losses. Through the intelligent management of the goods, but also improve the utilization of warehouse space, to enable enterprises to understand the real-time inventory, thereby reducing inventory costs, improve the accuracy of inventory management.

scholarly journals Analisis Pengendalian Persediaan Bahan Baku dengan Menerapkan Metode EOQ (Economic Order Quantity) pada PT. Jatisari Furniture Work

2021 ◽  
Vol 5 (1) ◽  
pp. 215
Author(s):  
Arga Sutrisna ◽  
Rizki Ginanjar ◽  
Suci Putri Lestari
Keyword(s):  
Production Costs ◽  
Raw Material ◽  
Economic Order Quantity ◽  
Economic Order ◽  
Analysis Tool ◽  
Order Quantity ◽  
Inventory Cost ◽  
Total Cost ◽  
Inventory Costs ◽  
Total Inventory

This research objectives aims to determine and analyze raw material inventory control, the ideal raw material inventory that the company must provide and the efficiency of production costs carried out by Jatisri Furniture Work in Tasikmalaya for the period 2018.11 – 2020.02. The data collection method in this study is by direct observation at Jatisari Furniture Work in Tasikmalaya. Using techniques such us interviews, observation, and documentation. These observations were made in production reports for the years 2018 – 2020. The analysis tool was carried out using the Economic Order Quantity (EOQ) method such us safety stock, reorder point, and total inventory cost. The result of the Economic Order Quantity (EOQ) analysis show that the total cost of raw the material inventory that must be incurred by the company is greater than the total cost of inventories calculated according to the EOQ method. Companies should follow the calculations from the EOQ method so that they can save on raw material inventory costs, so that production costs are more efficient.

scholarly journals Effective Inventory Management of Entrepreneurs in Eastern Part Thailand: 10 Big Questions

2015 ◽  
Vol 7 (1) ◽  
pp. 67-71
Author(s):  
Adisak Suvittawat
Keyword(s):  
Inventory Management ◽  
Small Firm ◽  
Cost Reduction ◽  
Small Firms ◽  
Sample Space ◽  
Inventory Cost ◽  
Space Utilization ◽  
Large Size ◽  
Inventory Management System ◽  
Picking System

The objective of this research is finding the variables which effect on entrepreneurs’ inventory management in eastern part of Thailand. The entrepreneurs have been identified in 2 difference sizes, large and small as the inventory management variables must be different. The results show that inventory management of large size were accepted by the entrepreneurs are space utilization, product sample, product feature differentiation, effective inventory management system, inventory management objective, effective inventory picking system, inventory cost reduction, regular problem happen, effective IT system and specific soft ware for inventory management. The results show that inventory management of small size were accepted by the entrepreneurs are specific soft ware for inventory management, effective IT system, inventory management objective, effective inventory picking system, regular problem happen, product feature differentiation, inventory cost reduction, product sample, space utilization and effective inventory management. Inventory management in small firm and big firm has significantly priorities as the big firms have advantage in space utilization but need specific soft ware for inventory management due to big firms have more products or inventories items than small firms.

scholarly journals ANALISIS KINERJA MANAJEMEN PERSEDIAAN PRODUK UD. SINAR JAYA KARANGASEM

2021 ◽  
Vol 10 (3) ◽  
pp. 270
Author(s):  
I Putu Adi Sanjaya ◽  
Ni Ketut Purnawati
Keyword(s):  
Inventory Management ◽  
Descriptive Analysis ◽  
Safety Stock ◽  
Total Cost ◽  
Inventory Costs ◽  
Actual Application ◽  
Total Inventory ◽  
Operational Activities ◽  
Abc Analysis ◽  
Product Inventory

Inventory plays an important role in the company's operational activities, it is necessary to do inventory management in order to minimize losses caused by the large inventory costs. This research is conducted at UD. Sinar Jaya, aims to determine the performance of product inventory management and whether it’s efficient or not. Research data are obtained through interviews and observations. Descriptive analysis technique is used, which describes systematically several stages starting with ABC analysis, EOQ calculation, safety stock calculation, re-order point calculation, maximum inventory calculation, inventory turnover calculation, and comparing the total inventory cost between the method applied by the company with the EOQ method. Results show that product inventory management performance is not efficient. This is indicated by the total cost of inventory incurred using the company method in 2019 amounting to IDR 43,058,137. The product inventory management system that should be carried out is to classify products with ABC analysis, then determine EOQ of 1,208 units, determine safety stock of 518 units, and determine the re-order point of 1,099 units for each classification at unit A, so that the total cost of inventory incurred is only IDR 32,716,517 or 24.02 % lower than the actual application of company methods. Keywords: ABC analysis, EOQ, inventory costs

scholarly journals Fuzzified risk management: Selection of safeguards to minimize the maximum risk

2015 ◽  
Vol 12 (2) ◽  
pp. 567-585
Author(s):  
Eloy Vicente ◽  
Alfonso Mateos ◽  
Antonio Jiménez-Martín
Keyword(s):  
Risk Management ◽  
Simulated Annealing ◽  
Optimization Problem ◽  
Fuzzy Numbers ◽  
Selection Process ◽  
Fuzzy Optimization ◽  
Linguistic Terms ◽  
Material Loss ◽  
Risk Analysis And Management ◽  
Selection Of

Threats can trigger incidents in information systems (IS) causing damage or intangible material loss to assets. A good selection of safeguards is critical for reducing risks caused by threats. This paper deals with the selection of failure transmission, preventive and palliative safeguards that minimize the maximum risk of an IS for a specified budget. We assume that all the elements in the IS are valuated using a linguistic scale, which is capable of accounting for imprecision and/or vagueness concerning the inputs. Trapezoidal fuzzy numbers are associated with these linguistic terms, and risk analysis and management is consequently based on trapezoidal fuzzy number arithmetic. We model and solve the respective fuzzy optimization problem by means of the simulated annealing metaheuristic and give an example to illustrate the safeguard selection process.

Inventory Control and Replenishment of Multi-Product Multi-Echelon Based on Time Cost Under JMI Environment

2013 ◽  
Vol 5 (2) ◽  
pp. 19-30
Author(s):  
Zhi Chen ◽  
Chao Ren ◽  
Ren-long Zhang ◽  
Mi-Yuan Shan
Keyword(s):  
Supply Chain ◽  
Inventory Management ◽  
Service Level ◽  
Control Model ◽  
Management Tool ◽  
Time Cost ◽  
Inventory Cost ◽  
Inventory Costs ◽  
Total Inventory ◽  
Replenishment Strategy

Joint managed inventory is an advanced supply chain inventory management tool, which will effectively tackle the complicated problem between the inventory cost of supply chain and service level. The research on inventory model and its’ control under JMI environment is a hot issue at present. In this paper, the authors deeply discuss the question of the inventory time costs about the multi-product and multi-echelon control model and its’ replenishment strategy under JMI environment. With considering the foundation of JMI and time cost, the authors propose the multi-product multi-echelon inventory cost control model under time cost. Then formulate corresponding replenishment strategy. At last, through a numerical example, the authors discover that the multi-product multi-echelon joint inventory management based on time cost can effectively reduce the total inventory costs and improve the competitiveness of the entire supply chain.

Some Approaches for Fuzzy Multiobjective Programming Problems

2021 ◽  
Vol 6 (1) ◽  
Author(s):  
Yves Mangongo Tinda ◽  
◽  
Justin Dupar Kampempe Busili ◽  
Keyword(s):  
Optimization Problem ◽  
Multiobjective Programming ◽  
Fuzzy Numbers ◽  
Fuzzy Optimization ◽  
Objective Functions ◽  
Multiobjective Programming Problem ◽  
Effectiveness And Efficiency ◽  
Nearest Interval Approximation ◽  
Multiobjective Programming Problems ◽  
Interval Approximation

In this paper we discuss two approaches to bring a balance between effectiveness and efficiency while solving a multiobjective programming problem with fuzzy objective functions. To convert the original fuzzy optimization problem into deterministic terms, the first approach makes use of the Nearest Interval Approximation Operator (Approximation approach) for fuzzy numbers and the second one takes advantage of an Embedding Theorem for fuzzy numbers (Equivalence approach). The resulting optimization problem related to the first approach is handled via Karush- Kuhn-Tucker like conditions for Pareto Optimality obtained for the resulting interval optimization problem. A Galerkin like scheme is used to tackle the deterministic counterpart associated to the second approach. Our approaches enable both faithful representation of reality and computational tractability. They are thus in sharp contrast with many existing methods that are either effective or efficient but not both. Numerical examples are also supplemented for the sake of illustration.

scholarly journals Supply Chain Coordination with Variable Backorder, Inspections, and Discount Policy for Fixed Lifetime Products

2016 ◽  
Vol 2016 ◽  
pp. 1-14 ◽  
Author(s):  
Biswajit Sarkar
Keyword(s):  
Supply Chain ◽  
Supply Chain Coordination ◽  
Channel Coordination ◽  
Quantity Discounts ◽  
Inventory Cost ◽  
Quantity Discount ◽  
Total Cost ◽  
Inspection Cost ◽  
Inventory Costs ◽  
Fixed Lifetime

This paper illustrates a channel coordination and quantity discounts between a vendor and a buyer with single-setup multi-delivery (SSMD) strategy to reduce the joint total cost among supply chain players. The benefit of the coordination between a buyer and a vendor is considered as the vendor requests to the buyer for changing the ordering quantity such that the vendor can be benefited from lower inventory costs. After accepting the buyer’s condition, the vendor compensates the buyer for his increased inventory cost and gives consent for additional savings by offering a quantity discount. The centralized decision making is examined for the effect of this strategy with the presence of backorder for buyer and inspection cost for the vendor. The quantity discount strategy, with the presence of variable backorder and inspections, can allow more savings for all players of supply chain. Some numerical examples, sensitivity analysis, and graphical representations are given to illustrate more savings from existing literature and comparisons between the several demand values.

scholarly journals Pengembangan Model Vendor Managed Inventory dengan Banyak Retailer yang Mempertimbangkan Ketidakpastian Lead Times

2018 ◽  
Vol 7 (1) ◽  
pp. 41
Author(s):  
Carles Sitompul ◽  
Paulina Ariningsih ◽  
Ida Bagus Deva Narswara Santosa
Keyword(s):  
Inventory Management ◽  
Lead Time ◽  
Mathematical Formulation ◽  
Lead Times ◽  
Approximation Model ◽  
Vendor Managed Inventory ◽  
Inventory Cost ◽  
Inventory Management System ◽  
Total Inventory ◽  
The Cost

<p><em>An inventory management system in supply chains called Vendor Managed Inventory (VMI) is very promising due to the cost efficiency resulted from implementing such system. This research aims to develop a vendor managed inventory for multiple retailers. The model also takes into account lead time uncertainties from vendor to its retailers. A mathematical formulation for VMI with multiple retailers is first developed using deterministic lead times.  Subsequently, lead times uncertainties are then taken into account where modes lead times are broken into two components: modes and delays, each with their respective probabilities. In turn, an approximation model is used to solve the problem because the complexity aroused from the model is difficult to solve using analytical methods. It is shown that the proposed approximation method is able to solve VMI problem with multiple retailers and uncertain lead times.  Furthermore, the total inventory cost is significantly reduced when compared to the usual economic order quantity method because stockouts are less frequent. </em></p>

scholarly journals PENGARUH PENGELOLAAN PERSEDIAAN BAHAN BAKU TERHADAP EFISIENSI BIAYA PERSEDIAAN DI PT HARMONI MAKMUR SEJAHTERA

2020 ◽  
Vol 5 (1) ◽  
pp. 45-54
Author(s):  
Hartono Hartono ◽  
Indit Andaresta
Keyword(s):  
Inventory Management ◽  
Cost Efficiency ◽  
Cost Management ◽  
Control Variable ◽  
Raw Material ◽  
Test Results ◽  
Stock Management ◽  
Inventory Cost ◽  
Significance Level ◽  
Inventory Costs

The purpose of this study is to determine how much the influence of raw material inventory management to the inventory cost efficiency at PT Harmoni Makmur Sejahtera. This study uses quantity research methods by giving questionnaires to 30 respondents, the calculation and data analysis conducted by using SPSS version 25. From the data proccessing, it was found a correlation value of 0.671, thus it can be concluded that there is a strong correlation between the variables of raw material stock management (X) on the efficiency of inventory costs (Y). Result of R square (R2) value of 0.451 or in the amount of 45.1%, therefore it can be said that the raw material inventory control variable has an effect of 45.1% on inventory cost management. The test results show that the t count is 4.793. The t table value, which is the standard, obtained the t table value at a significance level of 0.05, which is 2.480. The analysis results show the value of t count> t table (4.793> 2.480). This means that Ho is rejected and H1 is accepted, or there is a positive and significant influence between Raw Material Inventory Management on Inventory Efficiency.

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