scholarly journals Rationalization of processes in storage system using ABC analysis and multi-criteria decision-making

Tehnika ◽  
2020 ◽  
Vol 75 (6) ◽  
pp. 621-628
Author(s):  
Željko Stević ◽  
Fatima Ibrahimović ◽  
Dejan Mirčetić
Keyword(s):  
Sustainable Management ◽  
Construction Material ◽  
Storage System ◽  
Quality Parameters ◽  
Global Market ◽  
Supplier Evaluation ◽  
Multi Criteria Decision Making ◽  
Logistics System ◽  
Logistics Systems ◽  
Abc Analysis

Cost rationalization has become imperative in every economic system in order to create adequate foundations for its efficient and sustainable management. Competitiveness in the global market is extremely high and it is challenging to manage business and logistics systems, especially in regards to financial parameters. The presence of inventories is inevitability in every logistics system, and it tends to create adequate policies for their efficient and sustainable management. In order to be able to do this, it is necessary to determine which products represent the largest percentage share in the value of procurement, and which are the most represented quantitatively. In this paper, the warehouse of construction material that represents the wholesale system is considered. Taking into account that it is wholesale, it is necessary to determine what the procurement costs are and what the demand is for certain products. The grouping of products into three categories A, B and C was performed, after which it is necessary to identify appropriate suppliers for each category in order to rationalize procurement costs. Financial, logistical and quality parameters are taken into account. The FUCOM method has been used to determine the significance of these parameters and ARAS method is applied for supplier evaluation and selection.

scholarly journals A New Model for Stock Management in Order to Rationalize Costs: ABC-FUCOM-Interval Rough CoCoSo Model

Symmetry ◽  
2019 ◽  
Vol 11 (12) ◽  
pp. 1527 ◽  
Author(s):  
Živko Erceg ◽  
Vitomir Starčević ◽  
Dragan Pamučar ◽  
Goran Mitrović ◽  
Željko Stević ◽  
...  
Keyword(s):  
Sustainable Management ◽  
Storage System ◽  
Quality Parameters ◽  
Global Market ◽  
Stock Management ◽  
Decision Matrix ◽  
Logistics System ◽  
New Model ◽  
Logistics Systems ◽  
Abc Analysis

Cost rationalization has become imperative in every economic system in order to create adequate foundations for its efficient and sustainable management. Competitiveness in the global market is extremely high and it is challenging to manage business and logistics systems, especially with regards to financial parameters. It is necessary to rationalize costs in all activities and processes. The presence of inventories is inevitability in every logistics system, and it tends to create adequate and symmetrical policies for their efficient and sustainable management. In order to be able to do this, it is necessary to determine which products represent the largest percentage share in the value of procurement, and which are the most represented quantitatively. For this purpose, ABC analysis, which classifies products into three categories, is applied taking into account different constraints. The aim of this paper is to form a new model that involves the integration of ABC analysis, the Full Consistency Method (FUCOM), and a novel Interval Rough Combined Compromise Solution (CoCoSo) for stock management in the storage system. A new IRN Dombi weighted geometric averaging (IRNDWGA) operator is developed to aggregate the initial decision matrix. After grouping the products into three categories A, B and C, it is necessary to identify appropriate suppliers for each category in order to rationalize procurement costs. Financial, logistical, and quality parameters are taken into account. The FUCOM method has been used to determine the significance of these parameters. A new Interval CoCoSo approach is developed to determine the optimal suppliers for each product group. The results obtained have been modeled throughout a multi-phase sensitivity analysis.

scholarly journals A Multi-Criteria Decision-Making (MCDM) Approach Using Hybrid SCOR Metrics, AHP, and TOPSIS for Supplier Evaluation and Selection in the Gas and Oil Industry

Processes ◽  
2018 ◽  
Vol 6 (12) ◽  
pp. 252 ◽  
Author(s):  
Chia-Nan Wang ◽  
Ying-Fang Huang ◽  
I-Fang Cheng ◽  
Van Nguyen
Keyword(s):  
Decision Making ◽  
Supplier Selection ◽  
Raw Materials ◽  
Oil Industry ◽  
Supplier Evaluation ◽  
Multi Criteria Decision Making ◽  
Analytic Hierarchy ◽  
Ahp Model ◽  
Decision Making Unit ◽  
Stability And Accuracy

Suppliers are extremely important in business operations. The supplier ensures the supply of materials, raw materials, commodities, etc. in sufficient quantity, quality, stability, and accuracy to meet the requirements of production and business with low costs and on-time deliveries. Therefore, selecting and managing good suppliers is a prerequisite for organizing the production of quality products as desired, according to the schedule, and with reasonable prices and competitiveness in the market. It is also important to gain the support of suppliers in order to continue to improve and achieve more as a business. The evaluation and selection of a supplier is a Multi-Criteria Decision-Making (MCDM) issue, in which the decision-maker is faced with both qualitative and quantitative factors. In this research, the authors propose an MCDM model using a hybrid of Supply Chain Operations Reference metrics (SCOR metrics), the Analytic Hierarchy Process (AHP) model, and the Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS) approach for supplier evaluation and selection in the gas and oil industry. Using literature reviews on SCOR metrics, all criteria that impact supplier selection are defined in the first stage, the AHP model is applied to determine the weight of each factor in the second stage, and the optimal supplier is presented in final stage using the TOPSIS model. As a result, Decision-Making Unit 5 (DMU-05) is found to be the best supplier for the gas and oil industry in this research. The contribution of this work is to propose a new hybrid MCDM model for supplier selection in the gas and oil industry. This research also introduces a useful tool for supplier selection in other industries.

scholarly journals Redistributed manufacturing system under uncertain evaluation using multi criteria decision making

2021 ◽  
Vol 12 (3) ◽  
pp. 3895-3908
Author(s):  
Ponugupati Narendra Mohan Et.al
Keyword(s):  
Decision Making ◽  
Research Work ◽  
Dynamic Programming Algorithm ◽  
Big Data Analytics ◽  
Global Market ◽  
Programming Algorithm ◽  
Multi Criteria Decision Making ◽  
Firm Level ◽  
Data Set ◽  
Value Analysis

Man In recent day’s occurrence of a global crisis in Environmental (Emission of pollutants) and in Health (Pandemic COVID-19) created a recession in all sectors. The innovations in technology lead to heavy competition in global market forcing to develop new variants especially in the automobile sector. This creates more turbulence in demand at the production of new models, maintenance of existing models that are obsolete while implementation of Bharat Standard automobile regulatory authority BS-VI of India. In this research work developed a novel model of value analysis is integrated by multi-objective function with multi-criteria decision-making analysis by incorporating the big data analytics with green supply chain management to bridge the gap in demand to an Indian manufacturing sector using a firm-level data set using matrix chain multiplication dynamic programming algorithm and the computational results illustrates that the algorithm proposed is effective.

Formation of an optimal logistics system based on the analysis of transport infrastructure of the city of Yekaterinburg

Innotrans ◽  
2021 ◽  
pp. 3-7
Author(s):  
Yuliana E. Zhuzhgova ◽  
◽  
Viktoriya V. Savel’eva ◽  
Keyword(s):  
Public Transport ◽  
Transport Infrastructure ◽  
Logistics System ◽  
Passenger Traffic ◽  
Route Network ◽  
System A ◽  
Different Types ◽  
Abc Analysis ◽  
The City ◽  
Constant Growth

The main problems of transport infrastructure of cities are the problems of interaction of different types of transport, optimization of route flows, technical backwardness, low capacity, low speed of travel on public transport, low comfort for passengers. Currently, this is complicated by the constant growth of population and the number of cars, which invariably results in the need for optimization of an urban logistics system. A comprehensive solution to the problems presented can be the building of a network of transport hubs as a new stage in the implementation of transport reform. The article analyzes the transport infrastructure of Yekaterinburg. Based on the ABC analysis of passenger traffic, a method has been developed to identify the stopping points of the route network, which can later be transformed into transport hubs. The optimal logistics system of Yekaterinburg has been formed, consisting of three transport and logistics hubs: “Bus terminal”, “Railway station”, “Professors’” (Professorskaya).

Proposed Model for Inventory Review Policy through ABC Analysis in an Automotive Manufacturing Industry

2017 ◽  
Vol 29 ◽  
pp. 165-174 ◽  
Author(s):  
S. Nallusamy ◽  
R. Balaji ◽  
S. Sundar
Keyword(s):  
Manufacturing Industry ◽  
Raw Materials ◽  
Global Market ◽  
Inventory Level ◽  
Periodic Review ◽  
Automotive Manufacturing ◽  
Abc Classification ◽  
Abc Analysis ◽  
One Year ◽  
And Control

A global market inventory is one of the largest and most significant resources of a manufacturing business. ABC analysis is one of the methods used extensively in manufacturing industries for inventory classification. The familiar ABC inventory classification approach categorizes inventory items as A, B and C classes according to their annual consumption value. To direct and control the inventory items more proficiently the inventories managers regularly classify and group all the inventory items. The objective of this paper is to create a periodic review policy based on the ABC classification in order to control the raw materials more efficiently. Based on the data collected through original equipment manufacturer, the necessary analysis was carried out. From the observed results, it was found that the developed periodic review policy improved the inventory turnover ratio from 3.15 to 2.13 by optimizing the inventory level for one year.

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