To have an efficient control of a huge amount of inventory items, traditional approach is to classify the inventory into different groups. Different inventory control policies can then applied to different groups. The well-known ABC classification is simple-to-understand and easy-to-use. However, ABC analysis is based on only single measurement such as annual dollar usage. It has been recognize...

In multi-item inventory with very large number of items in retail sale stores, purchase dependency in demand amongst the items can be described by association rules mined from sale transaction data. With the knowledge of association rules, inventory replenishment policy can be designed which will result in low inventory cost and better profitability. The relevant inventory costs include the cos...

The MISTRAL code was used to analyze the BEATRIX-II experimental results of Li,O ring samples. The analysis included the change in inventory due to different temperature transients, the end-of-life inventory of the Phase I ring sample, and the analysis of the transient tritium release history of both Phase I and Phase II ring samples. The change in inventory results were used in order to obtain...

This simulation study explores and compares the potential benefits of three work-in-process inventory drive systems and their associated inventory buffer characteristics. The three inventory drives are a push, a pull and a hybrid push-pull system. While these systems have some aspects in common, their buffer management systems vary. The statistical analysis associated with the study was based o...

Spare parts inventory management is one of the major areas of inventory research. Analysis of recent literature showed that an approach integrating spare parts classification, demand forecasting, and stock control policies is essential; however, adapting this integrated approach is limited. This work presents an integrated framework for spare part inventory management and an Excel based applica...

303  Abstract— Inventory management is the process of efficiently overseeing the constant flow of units into and out of an existing inventory. Inventory management of spare parts plays an important role in achieving the desired plant availability at an optimum cost. This paper presents a spare part classification method based on item movement in store department and criticality. FSN analysis i...

The paper aims to investigate the effects of Inventory Turnover and Inventory Days on firm performance in the United Kingdom agricultural machinery industry by examining past literature reviews and empirical evidence of a primary research. Specific performance measures such as Earnings before Interest and Tax to Sales Ratio, Gross Profit to Sales Ratio, and Return on Assets are examined by cond...

multi-echelon inventory systems are one of the most important and attractive areas in modelling supply chain management so that several researches and studies have been done about. in this paper, the total cost function of a two-echelon inventory system with central warehouse and many identical retailers controlled by continuous review inventory policy is estimated. we have assumed the demand i...

We consider a periodic review inventory system and present its optimal policy in the infinite horizon setting. The optimal inventory policy that maximizes the infinite horizon expected discounted profit for the model is analytically obtained by relating to the finite horizon setting using results from variational analysis. Results are provided that elucidate the operations of the inventory syst...

this paper presents an inventory model for deteriorating items in which shortages are allowed. it is assumed that the production rate is proportional to the demand rate and greater than demand rate. the inventory model is developed by considering four different circumstances. the optimal of the problem is obtained with the help of mathematica 7 software. numerical examples are given to illustra...