Foundations of Inventory Management
- First Online: 21 March 2019
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- Marcel Sieke 2
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In today’s business world, inventories play an important role. Inventories are used to hedge against shortages in raw materials, allow a smooth production flow within a production line, or ensure the timely delivery of products to the end customer. But inventories also constitute a liability for a single company and the economy as a whole: Inventories are costly since they represent bounded capital that has to be managed continuously.
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Sieke, M. (2008). Foundations of Inventory Management. In: Supply Chain Contract Management. Edition KWV. Springer Gabler, Wiesbaden. https://doi.org/10.1007/978-3-658-24382-1_2
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Published : 21 March 2019
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INVENTORY MANAGEMENT AND ORGANIZATIONAL PERFORMANCE (Study of Dansa Food Limited)
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study of the existing inventory management strategy employed by the case company. First, a comprehensive understanding of the case company's inventory management is developed through a current state analysis, and the factors causing inefficient inventory management are identified. Then, methods for optimising inventory management are recommended to
Improving inventory management to increase profitability by Deborah Go B.A. Liberal Arts and Engineering Studies California Polytechnic State University, San Luis Obispo, 2011 Submitted to the MIT Sloan School of Management and the Department of Civil and Environmental Engineering in partial fulfillment of the requirements for the degrees of
Abstract Title: Inventory management: a high-level analysis of selected process elements, and factors impacting plan performance - A case study at Alfa Laval Purpose: The purpose of this thesis is to increase the effectiveness of the case company, Alfa Laval's, inventory management by finding challenges, opportunities, and gaps within their current inventory management practices.
addition, it provides an outline of the thesis chapters, offering a roadmap for the reader to better understand the key components and results of this academic work. 1.1. Motivation Effective inventory management is critical to organizations operating in today's complex and competitive global supply chains. Striking a balance between
Figure 3: Relationship between inventory investment and customer service levels Figure 4: EOQ - total cost development regarding order quantity Figure 5: Inventory management under uncertainty Figure 6: Standard deviation graph and customer service level Figure 7: Inventory turnover ratio per RM category Figure 8: Consumption of RM categories
Inventory management, also known as materials management, is the coordination and organization of the creative flow in a mechanized project by organizing, acquiring, storing and distributing the ...
eters in the demand model. In particular, we combine inventory management and parameter estimation into a single task to balance the costs of under- and overes-timation of the optimal inventory target. In the third study, we focus on nding a probabilistic guarantee on the near-optimality of an inventory-target estimator in the
The economic order quantity in this example would be 100 units per order. According to this model, ordering each time 100 units will bring the least amount of inventory-related costs compared to the options given as order quantity. Using the formula given in figure 4, the EOQ for this case is 110 units.
Inventory management alludes to all the actions included in developing and controlling the inventory levels of raw and semi-finished materials along with completed products. Inventories are fundamental for maintaining the flow of production, the market movement, and, thus, the supply system (Ziukov, 2015).
Foundations of Inventory Management. In today's business world, inventories play an important role. Invento-ries are used to hedge against shortages in raw materials, allow a smooth production flow within a production line, or ensure the timely delivery of products to the end customer. But inventories also constitute a li-ability for a single ...
Walden Dissertations and Doctoral Studies Walden Dissertations and Doctoral Studies Collection 2022 Successful Inventory Management Strategies in the Office Supply ... inventory management strategies small business owners develop and deploy successfully. I used a multiple case study design for my research. Researchers use the case
Master Thesis in International Logistics and Supply Chain Management Title: Improving Inventory Management in Small Business: A Case Study Authors: Lining Bai and Ying Zhong ... Inventory management also becomes a fundamental part of supply chain management (SCM) now. A lot of research in SCM over the last two decades can be characterized as so-
Inventory management as one of the key activities of business logistics, has always been a major preoccupation for the company's survival and growth. The aim of inventory management is to hold inventories at the lowest possible cost, given the objectives to ensure uninterrupted supplies for ongoing operations. When making
2.4.2. Inventory management practices and organizational competitiveness. Inventory management is very crucial to any organization that is improving on its performance and attaining high levels of customer satisfaction. According to Nzuza (Citation 2015), the material held by an organization makes up for most of the organization assets. Most ...
firms in Kenya relative to other inventory management practices studied. The research concluded that inventory management practices impact significantly the operational performances of consumer goods manufacturing firms in Kenya. The implementation of an effective inventory management practices leads to many benefits in a firm, including
The reliability analysis for constructs was as follows: inventory control (.666); inventory speed (.674); inventory cost (.642) inventory accountability (.757) and organizational performance (.670). The overall reliability statistic for all the 34 items based on Cronbach's Alpha was .883 as expressed in Table 4.1.
A Study of Inventory Management System. Case Study. 1* Nazar Sohail, Krukshetra University. 2 Tariq Hussain Sheikh, Govt. Degree college Poonch, [email protected]. Abstract--- Inventory ...
nerInternal Examiner Signature & DateSignature & DateSignature & Date DeclarationI, the undersigned, declare that the thesis entitled "An Assessment of Inventory Management System in the case of Habesha Cement Share Company." submitted by me for the award of the Masters of Business Administration (MBA), at. St. Mary's University, Origi.
This thesis explores the theory that a. company's inventory management practices directly impact the firm's efficiency, responsiveness, and profitability. Research from previously published studies on inventory management is shared. to develop a framework of understanding to answer the question of relevancy.
Video (online) Consult the top 50 dissertations / theses for your research on the topic 'Inventory management.'. Next to every source in the list of references, there is an 'Add to bibliography' button. Press on it, and we will generate automatically the bibliographic reference to the chosen work in the citation style you need: APA, MLA ...
Abstract and Figures. This study examines inventory control and organizational performance, using Dansa Food Limited for study. There has been inefficiency and uncharted inconsistence to address ...