scholarly journals Decay Management Model for Perishable Goods

2019 ◽  
Vol 9 (1S5) ◽  
pp. 203-205
Keyword(s):  
Experimental Investigation ◽  
Energy Level ◽  
Inventory Control ◽  
Inventory Management ◽  
Exponential Decay ◽  
Management Model ◽  
Perishable Goods ◽  
Rate Of Decay ◽  
Better Than ◽  
Linear Decay

Inventory management becomes a challenge when it comes to perishable goods. In practice managing perishable goodsis a difficult task worldwide.Improvement of inventory control of perishable goods depends on the model chosen or implemented. This paper proposes how to improve the profit and to reduce the risk of spoiling the goods with respect to the rate of decay which may be fixed or variable. By considering a specific type of perishable goods this experimental investigation has been done based on linear decay and exponential decay. It has been observed that irrespective of the type of decay, the energy level in forward approach is far better than the back approach of consuming the perishable goods.

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 Statistical Analysis of Inventory Management Systems on Organizational Performance

2020 ◽  
Vol 2 (1) ◽  
pp. 20-28
Author(s):  
Yoweri Rutagira ◽  
Richard Opaka Awichi
Keyword(s):  
Organizational Performance ◽  
Inventory Control ◽  
Inventory Management ◽  
Significant Relationship ◽  
Management Practices ◽  
Maintenance Policy ◽  
Materials Handling ◽  
Order Processing ◽  
Qualitative Approaches ◽  
The Relationship

The main purpose of the study was to investigate the effect of physical distribution management on organizational performance by Rutungu Distributors Ltd, Kampala (U). The study assessed the relationship between order processing and organizational performance in Rutungu Distributors Ltd in an attempt to establish the relationship between storage and organizational performance in the organization. It also sought to find out the relationship between other aspects of inventory management on organizational performance within the company. The research used a case study design approach which was correlational considering both quantitative and qualitative approaches in the data collection, presentation, and analysis. The population of the study was several categories of employees of the company. Findings from the study depicted that there is a positive significant relationship between order processing and organizational performance implying that when a customer submits an order, it is verified to ensure the necessary information is included and processed promptly. Storage and organizational performance; this means that the company can reduce damage through good materials handling. There was a positive significant relationship between inventory control and organizational performance as a result of heavy investment in inventory control practices and procedures. There was also a positive significant relationship between transportation and organizational performance showing that the company has an effective automated transportation system, observes well-coordinated fleet management practices, and also has a good vehicle maintenance policy. The study thus recommends the company to continue reducing the time it takes to get an order to a customer’s premises and to replenish its stores as it is what every company desires, but while faster fulfilment and small order sizes make customers, and store managers happy, faster fulfilment comes at a cost.

scholarly journals Inventory Control Accounting Computerization In J-Mart Karawang Based On Vb.Net 2008

2021 ◽  
Vol 1 (1) ◽  
pp. 43-55
Author(s):  
Indaryono Indaryono ◽  
Donny Apdian ◽  
Dudi Awalludin ◽  
Intan Ayu Nurhasanah
Keyword(s):  
Information System ◽  
Data Collection ◽  
Data Processing ◽  
Inventory Control ◽  
Inventory Management ◽  
Accounting Information ◽  
Sql Server ◽  
Reliable System ◽  
Accounting Information System ◽  
Collection Methods

When presented with an accounting information system based on a reliable system, it will certainly produce objective information as well. Inventory management and computerized goods reports are very beneficial for the company. J-Mart, which is a minimarket which still relies on Ms. So that data processing of reports cannot be fast and accurate. This study uses data collection methods in the form of observation, interviews and documentation. This application is designed to use Visual Basic.Net with SQL Server as the database. The output result obtained from this system is the inventory report. With the creation of this inventory system, it is hoped that it can make it easier to carry out the process of recording inventory, avoid input errors and can streamline the time of inputting and counting stock items in the warehouse.

scholarly journals EOQ FOR PERISHABLE GOODS: MODIFICATION OF WILSON’S MODEL FOR FOOD RETAILERS

2019 ◽  
Vol 25 (6) ◽  
pp. 1413-1432 ◽  
Author(s):  
Shouzhen Zeng ◽  
Oleksandr Nestorenko ◽  
Tetyana Nestorenko ◽  
Mangirdas Morkūnas ◽  
Artiom Volkov ◽  
...  
Keyword(s):  
Inventory Management ◽  
Process Management ◽  
Consumer Demand ◽  
Focal Point ◽  
Perishable Goods ◽  
Food Retailers ◽  
Retail Business ◽  
Proposed Model ◽  
Timely Response ◽  
A Company

A timely response to a fluctuating and ever-changing consumer demand is an important decision for a company, as it may impact its position in the market. Thus, proper inventory management becomes a focal point in retail business process management and can provide a substantial competitive advantage. In this paper, we introduce a modified version of Wilson’s model, which takes into account trends in consumer demand and offer flexibility in reordering time. The illustration of the proposed model is presented, showing the significant economic benefit under particular conditions.

scholarly journals Effects of Inventory Management on The Performance of State Corporations in Kenya

2020 ◽  
Vol 4 (2) ◽  
pp. 27
Author(s):  
Kwambai Mercy Jelagat ◽  
Dr. Samson Nyang’au Paul
Keyword(s):  
Information Technology ◽  
Technology Integration ◽  
Inventory Control ◽  
Inventory Management ◽  
P Value ◽  
Demand And Supply ◽  
Independent Variables ◽  
Control Techniques ◽  
Unit Increase ◽  
The Relationship

Purpose: The purpose of the study was to determine the effects of inventory management on the performance of state corporations in Kenya with an aim of making recommendations.Methodology: The study employed a descriptive research design. The researcher preferred this method because it allows an in-depth study of the subject. Data was collected using self-administered questionnaires. The study employed stratified random sampling technique in coming up with a sample size. Pilot study was carried out to establish the validity and reliability of the research instruments. The instruments were designed appropriately according to the study objectives. The data collected was analyzed by use of descriptive and inferential statistics. The study used multiple regression and correlation analysis to show the relationship between the dependent variable and the independent variables. The data generated was keyed in and analyzed by use of Statistical Package of Social Sciences (SPSS) version 24 to generate information which was presented using charts, frequencies and percentagesResults and conclusion: The regression equation above has established that taking all factors into account (inventory categorization, inventory control techniques, information technology integration and demand and supply forecasting) constant at zero, performance of state corporations in Kenya will be an index of 0.817.The findings presented also shows that taking all other independent variables at zero, a unit increase in inventory categorization will lead to a 0.537 increase in performance of state corporations in Kenya. The P-value was 0.000 which is less 0.05 and thus the relationship was significant. The study also found that a unit increase in inventory control techniques will lead to a 0.097 increase in performance of state corporations in Kenya. The P-value was 0.002 and thus the relationship was significant. In addition, the study found that a unit increase in information technology integration will lead to a 0.067 increase in the performance of state corporations in Kenya. The P-value was 0.000 and thus the relationship was significant. Lastly, the study found that a unit increase in demand and supply forecasting will lead to a 0.08 increase in the performance of state corporations in Kenya. The P-value was 0.001 and hence the relationship was significant since the p-value was lower than 0.05. The findings of the study show that, inventory categorization contributed most to the performance of state corporations in Kenya. The findings of the study indicated that; safety stock management, inventory control techniques, information technology integration and demand and supply forecasting have a positive relationship with performance of state corporations.Unique contribution to theory, policy and practice: Finally, the study recommended that public institutions should embrace inventory optimization practices so as to improve their performance and further researches should to be carried out in other public entities to find out if the same results can be obtained.

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