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action="https://publications.waset.org/abstracts/search"> <div id="custom-search-input"> <div class="input-group"> <i class="fas fa-search"></i> <input type="text" class="search-query" name="q" placeholder="Author, Title, Abstract, Keywords" value="inventory management"> <input type="submit" class="btn_search" value="Search"> </div> </div> </form> </div> </div> <div class="row mt-3"> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Commenced</strong> in January 2007</div> </div> </div> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Frequency:</strong> Monthly</div> </div> </div> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Edition:</strong> International</div> </div> </div> <div class="col-sm-3"> <div class="card"> <div class="card-body"><strong>Paper Count:</strong> 10166</div> </div> </div> </div> <h1 class="mt-3 mb-3 text-center" style="font-size:1.6rem;">Search results for: inventory management</h1> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">10166</span> Inventory Decisions for Perishable Products with Age and Stock Dependent Demand Rate</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Maher%20Agi">Maher Agi</a>, <a href="https://publications.waset.org/abstracts/search?q=Hardik%20Soni"> Hardik Soni</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This paper presents a deterministic model for optimized control of the inventory of a perishable product subject to both physical deterioration and degradation of its freshness condition. The demand for the product depends on its current inventory level and freshness condition. Our model allows for any positive amount of end of cycle inventory. Some useful conditions that characterize the optimal solution of the model are derived and an algorithm is presented for finding the optimal values of the price, the inventory cycle, the end of cycle inventory level and the order quantity. Numerical examples are then given. Our work shows how the product freshness in conjunction with the inventory deterioration affects the inventory management decisions. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=inventory%20management" title="inventory management">inventory management</a>, <a href="https://publications.waset.org/abstracts/search?q=lot%20sizing" title=" lot sizing"> lot sizing</a>, <a href="https://publications.waset.org/abstracts/search?q=perishable%20products" title=" perishable products"> perishable products</a>, <a href="https://publications.waset.org/abstracts/search?q=deteriorating%20inventory" title=" deteriorating inventory"> deteriorating inventory</a>, <a href="https://publications.waset.org/abstracts/search?q=age-dependent%20demand" title=" age-dependent demand"> age-dependent demand</a>, <a href="https://publications.waset.org/abstracts/search?q=stock-dependent%20demand" title=" stock-dependent demand"> stock-dependent demand</a> </p> <a href="https://publications.waset.org/abstracts/86620/inventory-decisions-for-perishable-products-with-age-and-stock-dependent-demand-rate" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/86620.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">234</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">10165</span> Hybrid Inventory Model Optimization under Uncertainties: A Case Study in a Manufacturing Plant</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=E.%20Benga">E. Benga</a>, <a href="https://publications.waset.org/abstracts/search?q=T.%20Tengen"> T. Tengen</a>, <a href="https://publications.waset.org/abstracts/search?q=A.%20Alugongo"> A. Alugongo</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Periodic and continuous inventory models are the two classical management tools used to handle inventories. These models have advantages and disadvantages. The implementation of both continuous (r,Q) inventory and periodic (R, S) inventory models in most manufacturing plants comes with higher cost. Such high inventory costs are due to the fact that most manufacturing plants are not flexible enough. Since demand and lead-time are two important variables of every inventory models, their effect on the flexibility of the manufacturing plant matter most. Unfortunately, these effects are not clearly understood by managers. The reason is that the decision parameters of the continuous (r, Q) inventory and periodic (R, S) inventory models are not designed to effectively deal with the issues of uncertainties such as poor manufacturing performances, delivery performance supplies performances. There is, therefore, a need to come up with a predictive and hybrid inventory model that can combine in some sense the feature of the aforementioned inventory models. A linear combination technique is used to hybridize both continuous (r, Q) inventory and periodic (R, S) inventory models. The behavior of such hybrid inventory model is described by a differential equation and then optimized. From the results obtained after simulation, the continuous (r, Q) inventory model is more effective than the periodic (R, S) inventory models in the short run, but this difference changes as time goes by. Because the hybrid inventory model is more cost effective than the continuous (r,Q) inventory and periodic (R, S) inventory models in long run, it should be implemented for strategic decisions. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=periodic%20inventory" title="periodic inventory">periodic inventory</a>, <a href="https://publications.waset.org/abstracts/search?q=continuous%20inventory" title=" continuous inventory"> continuous inventory</a>, <a href="https://publications.waset.org/abstracts/search?q=hybrid%20inventory" title=" hybrid inventory"> hybrid inventory</a>, <a href="https://publications.waset.org/abstracts/search?q=optimization" title=" optimization"> optimization</a>, <a href="https://publications.waset.org/abstracts/search?q=manufacturing%20plant" title=" manufacturing plant"> manufacturing plant</a> </p> <a href="https://publications.waset.org/abstracts/64054/hybrid-inventory-model-optimization-under-uncertainties-a-case-study-in-a-manufacturing-plant" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/64054.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">382</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">10164</span> Inventory Management System of Seasonal Raw Materials of Feeds at San Jose Batangas through Integer Linear Programming and VBA</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Glenda%20Marie%20D.%20Balitaan">Glenda Marie D. Balitaan</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The branch of business management that deals with inventory planning and control is known as inventory management. It comprises keeping track of supply levels and forecasting demand, as well as scheduling when and how to plan. Keeping excess inventory results in a loss of money, takes up physical space, and raises the risk of damage, spoilage, and loss. On the other hand, too little inventory frequently causes operations to be disrupted and raises the possibility of low customer satisfaction, both of which can be detrimental to a company's reputation. The United Victorious Feed mill Corporation's present inventory management practices were assessed in terms of inventory level, warehouse allocation, ordering frequency, shelf life, and production requirement. To help the company achieve their optimal level of inventory, a mathematical model was created using Integer Linear Programming. Due to the season, the goal function was to reduce the cost of purchasing US Soya and Yellow Corn. Warehouse space, annual production requirements, and shelf life were all considered. To ensure that the user only uses one application to record all relevant information, like production output and delivery, the researcher built a Visual Basic system. Additionally, the technology allows management to change the model's parameters. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=inventory%20management" title="inventory management">inventory management</a>, <a href="https://publications.waset.org/abstracts/search?q=integer%20linear%20programming" title=" integer linear programming"> integer linear programming</a>, <a href="https://publications.waset.org/abstracts/search?q=inventory%20management%20system" title=" inventory management system"> inventory management system</a>, <a href="https://publications.waset.org/abstracts/search?q=feed%20mill" title=" feed mill"> feed mill</a> </p> <a href="https://publications.waset.org/abstracts/160839/inventory-management-system-of-seasonal-raw-materials-of-feeds-at-san-jose-batangas-through-integer-linear-programming-and-vba" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/160839.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">83</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">10163</span> Effect of Inventory Management on Financial Performance: Evidence from Nigerian Conglomerate Companies</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Adamu%20Danlami%20Ahmed">Adamu Danlami Ahmed</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Inventory management is the determinant of effective and efficient work for any manager. This study looked at the relationship between inventory management and financial performance. The population of the study comprises all conglomerate quoted companies in the Nigerian Stock Exchange market as at 31<sup>st</sup> December 2010. The scope of the study covered the period from 2010 to 2014. Descriptive, Pearson correlation and multiple regressions are used to analyze the data. It was found that inventory management is significantly related to the profitability of the company. This entails that an efficient management of the inventory cycle will enhance the profitability of the company. Also, lack of proper management of it will hinder the financial performance of organizations. Based on the results, it was recommended that a conglomerate company should try to see that inventories are kept to a minimum, as well as make sure the proper checks are maintained to make sure only needed inventories are in the store. As well as to keep track of the movement of goods, in order to avoid unnecessary delay of finished and work in progress (WIP) goods in the store and warehouse. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=finished%20goods" title="finished goods">finished goods</a>, <a href="https://publications.waset.org/abstracts/search?q=work%20in%20progress" title=" work in progress"> work in progress</a>, <a href="https://publications.waset.org/abstracts/search?q=financial%20performance" title=" financial performance"> financial performance</a>, <a href="https://publications.waset.org/abstracts/search?q=inventory" title=" inventory"> inventory</a> </p> <a href="https://publications.waset.org/abstracts/54433/effect-of-inventory-management-on-financial-performance-evidence-from-nigerian-conglomerate-companies" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/54433.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">233</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">10162</span> The Relationship between Inventory Management and Profitability: A Comparative Research on Turkish Firms Operated in Weaving Industry, Eatables Industry, Wholesale and Retail Industry</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Gamze%20Sekeroglu">Gamze Sekeroglu</a>, <a href="https://publications.waset.org/abstracts/search?q=Mikail%20Altan"> Mikail Altan</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Working capital is identified as firm’s all current assets. Inventories which are one of the working capital elements are very important among current assets for firms. Because, profitability is an indicator for firms’ financial success is provided with minimum cost and optimum inventory quantity. So in this study, it is investigated as comparatively that the effect of inventory management on the profitability of Turkish firms which operated in weaving industry, eatables industry, wholesale and retail industry in between 2003 – 2012 years. Research data consist of profitability ratios and inventory turnovers ratio calculated by using balance sheets and income statements of firms which operated in Borsa Istanbul (BIST). In this research, the relationship between inventories and profitability is investigated by using SPSS-20 software with regression and correlation analysis. The results achieved from three industry departments which exist in study interpreted as comparatively. Accordingly, it is determined that there is a positive relationship between inventory management and profitability in eatables industry. However, it was founded that there is no relationship between inventory management and profitability in weaving industry and wholesale and retail industry. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=profitability" title="profitability">profitability</a>, <a href="https://publications.waset.org/abstracts/search?q=regression%20analysis" title=" regression analysis"> regression analysis</a>, <a href="https://publications.waset.org/abstracts/search?q=inventory%20management" title=" inventory management"> inventory management</a>, <a href="https://publications.waset.org/abstracts/search?q=working%20capital" title=" working capital"> working capital</a> </p> <a href="https://publications.waset.org/abstracts/6435/the-relationship-between-inventory-management-and-profitability-a-comparative-research-on-turkish-firms-operated-in-weaving-industry-eatables-industry-wholesale-and-retail-industry" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/6435.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">336</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">10161</span> Ranking of Inventory Policies Using Distance Based Approach Method</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Gupta%20Amit">Gupta Amit</a>, <a href="https://publications.waset.org/abstracts/search?q=Kumar%20Ramesh"> Kumar Ramesh</a>, <a href="https://publications.waset.org/abstracts/search?q=P.%20C.%20Tewari"> P. C. Tewari</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Globalization is putting enormous pressure on the business organizations specially manufacturing one to rethink the supply chain in innovative manners. Inventory consumes major portion of total sale revenue. Effective and efficient inventory management plays a vital role for the successful functioning of any organization. Selection of inventory policy is one of the important purchasing activities. This paper focuses on selection and ranking of alternative inventory policies. A deterministic quantitative model-based on Distance Based Approach (DBA) method has been developed for evaluation and ranking of inventory policies. We have employed this concept first time for this type of the selection problem. Four inventory policies Economic Order Quantity (EOQ), Just in Time (JIT), Vendor Managed Inventory (VMI) and monthly policy are considered. Improper selection could affect a company’s competitiveness in terms of the productivity of its facilities and quality of its products. The ranking of inventory policies is a multi-criteria problem. There is a need to first identify the selection criteria and then processes the information with reference to relative importance of attributes for comparison. Criteria values for each inventory policy can be obtained either analytically or by using a simulation technique or they are linguistic subjective judgments defined by fuzzy sets, like, for example, the values of criteria. A methodology is developed and applied to rank the inventory policies. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=inventory%20policy" title="inventory policy">inventory policy</a>, <a href="https://publications.waset.org/abstracts/search?q=ranking" title=" ranking"> ranking</a>, <a href="https://publications.waset.org/abstracts/search?q=DBA" title=" DBA"> DBA</a>, <a href="https://publications.waset.org/abstracts/search?q=selection%20criteria" title=" selection criteria"> selection criteria</a> </p> <a href="https://publications.waset.org/abstracts/1726/ranking-of-inventory-policies-using-distance-based-approach-method" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/1726.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">390</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">10160</span> Supply Chain Control and Inventory Management in Garment Industry</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Nisa%20Nur%20Duman">Nisa Nur Duman</a>, <a href="https://publications.waset.org/abstracts/search?q=S%C3%BCmeyya%20Kili%C3%A7"> Sümeyya Kiliç</a> </p> <p class="card-text"><strong>Abstract:</strong></p> In global competition conditions, survival of the plants by obtaining competitive advantage relies on the effective usage of existing sources. By this way, the plants can minimize their costs without losing their quality. They also take advantage took advantage on their competitors and enlarge customer portfolio by increasing profit margins. Changing structure of market and customer demands also change the structure of the competition between companies. Furthermore, competition is not only between the companies. By this manner, supply chain and supply chain management get importance by considering company performances. Companies that want to survive, search the ways of decreasing costs and the ways of meeting customer expectations. One of the important tools for reaching these goals is inventory managemet. The best inventory management system is meeting the demands by considering plant goals. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=Supply%20chain" title="Supply chain">Supply chain</a>, <a href="https://publications.waset.org/abstracts/search?q=inventory%20management" title=" inventory management"> inventory management</a>, <a href="https://publications.waset.org/abstracts/search?q=apparel%20sector" title=" apparel sector"> apparel sector</a>, <a href="https://publications.waset.org/abstracts/search?q=garment%20industry" title=" garment industry"> garment industry</a> </p> <a href="https://publications.waset.org/abstracts/28977/supply-chain-control-and-inventory-management-in-garment-industry" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/28977.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">370</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">10159</span> Optimizing a Hybrid Inventory System with Random Demand and Lead Time</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Benga%20Ebouele">Benga Ebouele</a>, <a href="https://publications.waset.org/abstracts/search?q=Thomas%20Tengen"> Thomas Tengen</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Implementing either periodic or continuous inventory review model within most manufacturing-companies-supply chains as a management tool may incur higher costs. These high costs affect the system flexibility which in turn affects the level of service required to satisfy customers. However, these effects are not clearly understood because the parameters of both inventory review policies (protection demand interval, order quantity, etc.) are not designed to be fully utilized under different and uncertain conditions such as poor manufacturing, supplies and delivery performance. Coming up with a hybrid model which may combine in some sense the feature of both continuous and a periodic inventory review models should be useful. Therefore, there is a need to build and evaluate such hybrid model on the annual total cost, stock out probability and system’s flexibility in order to search for the most cost effective inventory review model. This work also seeks to find the optimal sets of parameters of inventory management under stochastic condition so as to optimise each policy independently. The results reveal that a continuous inventory system always incurs lesser cost than a periodic (R, S) inventory system, but this difference tends to decrease as time goes by. Although the hybrid inventory is the only one that can yield lesser cost over time, it is not always desirable but also natural to use it in order to help the system to meet high performance specification. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=demand%20and%20lead%20time%20randomness" title="demand and lead time randomness">demand and lead time randomness</a>, <a href="https://publications.waset.org/abstracts/search?q=hybrid%20Inventory%20model" title=" hybrid Inventory model"> hybrid Inventory model</a>, <a href="https://publications.waset.org/abstracts/search?q=optimization" title=" optimization"> optimization</a>, <a href="https://publications.waset.org/abstracts/search?q=supply%20chain" title=" supply chain"> supply chain</a> </p> <a href="https://publications.waset.org/abstracts/41794/optimizing-a-hybrid-inventory-system-with-random-demand-and-lead-time" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/41794.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">313</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">10158</span> Improving Sales through Inventory Reduction: A Retail Chain Case Study</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=M.%20G.%20Mattos">M. G. Mattos</a>, <a href="https://publications.waset.org/abstracts/search?q=J.%20E.%20P%C3%A9cora%20Jr"> J. E. Pécora Jr</a>, <a href="https://publications.waset.org/abstracts/search?q=T.%20A.%20Briso"> T. A. Briso</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Today's challenging business environment, with unpredictable demand and volatility, requires a supply chain strategy that handles uncertainty and risks in the right way. Even though inventory models have been previously explored, this paper seeks to apply these concepts on a practical situation. This study involves the inventory replenishment problem, applying techniques that are mainly based on mathematical assumptions and modeling. The primary goal is to improve the retailer’s supply chain processes taking store differences when setting the various target stock levels. Through inventory review policy, picking piece implementation and minimum exposure definition, we were able not only to promote the inventory reduction as well as improve sales results. The inventory management theory from literature review was then tested on a single case study regarding a particular department in one of the largest Latam retail chains. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=inventory" title="inventory">inventory</a>, <a href="https://publications.waset.org/abstracts/search?q=distribution" title=" distribution"> distribution</a>, <a href="https://publications.waset.org/abstracts/search?q=retail" title=" retail"> retail</a>, <a href="https://publications.waset.org/abstracts/search?q=risk" title=" risk"> risk</a>, <a href="https://publications.waset.org/abstracts/search?q=safety%20stock" title=" safety stock"> safety stock</a>, <a href="https://publications.waset.org/abstracts/search?q=sales" title=" sales"> sales</a>, <a href="https://publications.waset.org/abstracts/search?q=uncertainty" title=" uncertainty"> uncertainty</a> </p> <a href="https://publications.waset.org/abstracts/78978/improving-sales-through-inventory-reduction-a-retail-chain-case-study" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/78978.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">268</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">10157</span> Multi-Criteria Inventory Classification Process Based on Logical Analysis of Data</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Diana%20L%C3%B3pez-Soto">Diana López-Soto</a>, <a href="https://publications.waset.org/abstracts/search?q=Soumaya%20Yacout"> Soumaya Yacout</a>, <a href="https://publications.waset.org/abstracts/search?q=Francisco%20%C3%81ngel-Bello"> Francisco Ángel-Bello</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Although inventories are considered as stocks of money sitting on shelve, they are needed in order to secure a constant and continuous production. Therefore, companies need to have control over the amount of inventory in order to find the balance between excessive and shortage of inventory. The classification of items according to certain criteria such as the price, the usage rate and the lead time before arrival allows any company to concentrate its investment in inventory according to certain ranking or priority of items. This makes the decision making process for inventory management easier and more justifiable. The purpose of this paper is to present a new approach for the classification of new items based on the already existing criteria. This approach is called the Logical Analysis of Data (LAD). It is used in this paper to assist the process of ABC items classification based on multiple criteria. LAD is a data mining technique based on Boolean theory that is used for pattern recognition. This technique has been tested in medicine, industry, credit risk analysis, and engineering with remarkable results. An application on ABC inventory classification is presented for the first time, and the results are compared with those obtained when using the well-known AHP technique and the ANN technique. The results show that LAD presented very good classification accuracy. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=ABC%20multi-criteria%20inventory%20classification" title="ABC multi-criteria inventory classification">ABC multi-criteria inventory classification</a>, <a href="https://publications.waset.org/abstracts/search?q=inventory%20management" title=" inventory management"> inventory management</a>, <a href="https://publications.waset.org/abstracts/search?q=multi-class%20LAD%20model" title=" multi-class LAD model"> multi-class LAD model</a>, <a href="https://publications.waset.org/abstracts/search?q=multi-criteria%20classification" title=" multi-criteria classification"> multi-criteria classification</a> </p> <a href="https://publications.waset.org/abstracts/29498/multi-criteria-inventory-classification-process-based-on-logical-analysis-of-data" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/29498.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">881</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">10156</span> Inventory Management to Minimize Storage Costs and Improve Delivery Time in a Pharmaceutical Industry</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Israel%20Becerril%20Rosales">Israel Becerril Rosales</a>, <a href="https://publications.waset.org/abstracts/search?q=Manuel%20Gonz%C3%A1lez%20De%20La%20Rosa"> Manuel González De La Rosa</a>, <a href="https://publications.waset.org/abstracts/search?q=Gerardo%20Villa%20S%C3%A1nchez"> Gerardo Villa Sánchez</a> </p> <p class="card-text"><strong>Abstract:</strong></p> In this work, the effects that produce not having a good inventory management is analyzed, in addition of the way that how it affects the storage costs. The research began conducting the historical analysis about stored products, its storage capacity, and distribution. The results were not optimal, since in all its raw materials (RM) have overstocking, the warehouse capacity is only used by 61%, does not have a specific place for each of its RM, causing that the delivery times increases and makes difficult a cyclical inventory. These shortcomings allowed to view and select as design alternatives the inventory ABC, so that depending on the consumption of each RM would be redistributed by using economic amount requested. Also, the Delphi method to ensure the practical applicability of the proposed tool was used, taking in account comments and suggestions of the involved experts, as well as the compliance of NOM-059-SSA1-2015 good manufacturing practices of drug. With the actions implemented, the utilization rate drops of 61% to 32% capacity, it shows that the warehouse was not designed properly due to there is not an industrial engineering area. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=lead%20time" title="lead time">lead time</a>, <a href="https://publications.waset.org/abstracts/search?q=improve%20delivery" title=" improve delivery"> improve delivery</a>, <a href="https://publications.waset.org/abstracts/search?q=storage%20costs" title=" storage costs"> storage costs</a>, <a href="https://publications.waset.org/abstracts/search?q=inventory%20management" title=" inventory management"> inventory management</a> </p> <a href="https://publications.waset.org/abstracts/76051/inventory-management-to-minimize-storage-costs-and-improve-delivery-time-in-a-pharmaceutical-industry" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/76051.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">232</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">10155</span> Optimization of Economic Order Quantity of Multi-Item Inventory Control Problem through Nonlinear Programming Technique</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Prabha%20Rohatgi">Prabha Rohatgi</a> </p> <p class="card-text"><strong>Abstract:</strong></p> To obtain an efficient control over a huge amount of inventory of drugs in pharmacy department of any hospital, generally, the medicines are categorized on the basis of their cost ‘ABC’ (Always Better Control), first and then categorize on the basis of their criticality ‘VED’ (Vital, Essential, desirable) for prioritization. About one-third of the annual expenditure of a hospital is spent on medicines. To minimize the inventory investment, the hospital management may like to keep the medicines inventory low, as medicines are perishable items. The main aim of each and every hospital is to provide better services to the patients under certain limited resources. To achieve the satisfactory level of health care services to outdoor patients, a hospital has to keep eye on the wastage of medicines because expiry date of medicines causes a great loss of money though it was limited and allocated for a particular period of time. The objectives of this study are to identify the categories of medicines requiring incentive managerial control. In this paper, to minimize the total inventory cost and the cost associated with the wastage of money due to expiry of medicines, an inventory control model is used as an estimation tool and then nonlinear programming technique is used under limited budget and fixed number of orders to be placed in a limited time period. Numerical computations have been given and shown that by using scientific methods in hospital services, we can give more effective way of inventory management under limited resources and can provide better health care services. The secondary data has been collected from a hospital to give empirical evidence. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=ABC-VED%20inventory%20classification" title="ABC-VED inventory classification">ABC-VED inventory classification</a>, <a href="https://publications.waset.org/abstracts/search?q=multi%20item%20inventory%20problem" title=" multi item inventory problem"> multi item inventory problem</a>, <a href="https://publications.waset.org/abstracts/search?q=nonlinear%20programming%20technique" title=" nonlinear programming technique"> nonlinear programming technique</a>, <a href="https://publications.waset.org/abstracts/search?q=optimization%20of%20EOQ" title=" optimization of EOQ"> optimization of EOQ</a> </p> <a href="https://publications.waset.org/abstracts/68645/optimization-of-economic-order-quantity-of-multi-item-inventory-control-problem-through-nonlinear-programming-technique" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/68645.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">255</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">10154</span> The Role of Inventory Classification in Supply Chain Responsiveness in a Build-to-Order and Build-To-Forecast Manufacturing Environment: A Comparative Analysis</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Qamar%20Iqbal">Qamar Iqbal</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Companies strive to improve their forecasting methods to predict the fluctuations in customer demand. These fluctuation and variation in demand affect the manufacturing operations and can limit a company’s ability to fulfill customer demand on time. Companies keep the inventory buffer and maintain the stocking levels to reduce the impact of demand variation. A mid-size company deals with thousands of stock keeping units (skus). It is neither easy and nor efficient to control and manage each sku. Inventory classification provides a tool to the management to increase their ability to support customer demand. The paper presents a framework that shows how inventory classification can play a role to increase supply chain responsiveness. A case study will be presented to further elaborate the method both for build-to-order and build-to-forecast manufacturing environments. Results will be compared that will show which manufacturing setting has advantage over another under different circumstances. The outcome of this study is very useful to the management because this will give them an insight on how inventory classification can be used to increase their ability to respond to changing customer needs. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=inventory%20classification" title="inventory classification">inventory classification</a>, <a href="https://publications.waset.org/abstracts/search?q=supply%20chain%20responsiveness" title=" supply chain responsiveness"> supply chain responsiveness</a>, <a href="https://publications.waset.org/abstracts/search?q=forecast" title=" forecast"> forecast</a>, <a href="https://publications.waset.org/abstracts/search?q=manufacturing%20environment" title=" manufacturing environment"> manufacturing environment</a> </p> <a href="https://publications.waset.org/abstracts/35689/the-role-of-inventory-classification-in-supply-chain-responsiveness-in-a-build-to-order-and-build-to-forecast-manufacturing-environment-a-comparative-analysis" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/35689.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">595</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">10153</span> Reducing Inventory Costs by Reducing Inventory Levels: Kuwait Flour Mills and Bakeries Company</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Dana%20Al-Qattan">Dana Al-Qattan</a>, <a href="https://publications.waset.org/abstracts/search?q=Faiza%20Goodarzi"> Faiza Goodarzi</a>, <a href="https://publications.waset.org/abstracts/search?q=Heba%20Al-Resheedan"> Heba Al-Resheedan</a>, <a href="https://publications.waset.org/abstracts/search?q=Kawther%20Shehab"> Kawther Shehab</a>, <a href="https://publications.waset.org/abstracts/search?q=Shoug%20Al-Ansari"> Shoug Al-Ansari</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This project involves working with different types of forecasting methods and facility planning tools to help the company we have chosen to improve and reduce its inventory, increase its sales, and decrease its wastes and losses. The methods that have been used by the company have shown no improvement in decreasing the annual losses. The research made in the company has shown that no interest has been made in exploring different techniques to help the company. In this report, we introduce several methods and techniques that will help the company make more accurate forecasts and use of the available space efficiently. We expect our approach to reduce costs without affecting the quality of the product, and hence making production more viable. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=production%20planning" title="production planning">production planning</a>, <a href="https://publications.waset.org/abstracts/search?q=inventory%20management" title=" inventory management"> inventory management</a>, <a href="https://publications.waset.org/abstracts/search?q=inventory%20control" title=" inventory control"> inventory control</a>, <a href="https://publications.waset.org/abstracts/search?q=simulation" title=" simulation"> simulation</a>, <a href="https://publications.waset.org/abstracts/search?q=facility%20planning%20and%20design" title=" facility planning and design"> facility planning and design</a>, <a href="https://publications.waset.org/abstracts/search?q=engineering%20economy%20and%20costs" title=" engineering economy and costs"> engineering economy and costs</a> </p> <a href="https://publications.waset.org/abstracts/9187/reducing-inventory-costs-by-reducing-inventory-levels-kuwait-flour-mills-and-bakeries-company" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/9187.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">570</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">10152</span> Simulating Economic Order Quantity and Reorder Point Policy for a Repairable Items Inventory System </h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Mojahid%20F.%20Saeed%20Osman">Mojahid F. Saeed Osman</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Repairable items inventory system is a management tool used to incorporate all information concerning inventory levels and movements for repaired and new items. This paper presents development of an effective simulation model for managing the inventory of repairable items for a production system where production lines send their faulty items to a repair shop considering the stochastic failure behavior and repair times. The developed model imitates the process of handling the on-hand inventory of repaired items and the replenishment of the inventory of new items using Economic Order Quantity and Reorder Point ordering policy in a flexible and risk-free environment. We demonstrate the appropriateness and effectiveness of the proposed simulation model using an illustrative case problem. The developed simulation model can be used as a reliable tool for estimating a healthy on-hand inventory of new and repaired items, backordered items, and downtime due to unavailability of repaired items, and validating and examining Economic Order Quantity and Reorder Point ordering policy, which would further be compared with other ordering strategies as future work. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=inventory%20system" title="inventory system">inventory system</a>, <a href="https://publications.waset.org/abstracts/search?q=repairable%20items" title=" repairable items"> repairable items</a>, <a href="https://publications.waset.org/abstracts/search?q=simulation" title=" simulation"> simulation</a>, <a href="https://publications.waset.org/abstracts/search?q=maintenance" title=" maintenance"> maintenance</a>, <a href="https://publications.waset.org/abstracts/search?q=economic%20order%20quantity" title=" economic order quantity"> economic order quantity</a>, <a href="https://publications.waset.org/abstracts/search?q=reorder%20point" title=" reorder point"> reorder point</a> </p> <a href="https://publications.waset.org/abstracts/122752/simulating-economic-order-quantity-and-reorder-point-policy-for-a-repairable-items-inventory-system" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/122752.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">144</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">10151</span> The Management Information System for Convenience Stores: Case Study in 7 Eleven Shop in Bangkok</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Supattra%20Kanchanopast">Supattra Kanchanopast</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The purpose of this research is to develop and design a management information system for 7 eleven shop in Bangkok. The system was designed and developed to meet users’ requirements via the internet network by use of application software such as My SQL for database management, Apache HTTP Server for Web Server and PHP Hypertext Preprocessor for an interface between web server, database and users. The system was designed into two subsystems as the main system, or system for head office, and the branch system for branch shops. These consisted of three parts which are classified by user management as shop management, inventory management and Point of Sale (POS) management. The implementation of the MIS for the mini-mart shop, can lessen the amount of paperwork and reduce repeating tasks so it may decrease the capital of the business and support an extension of branches in the future as well. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=convenience%20store" title="convenience store">convenience store</a>, <a href="https://publications.waset.org/abstracts/search?q=the%20management%20information%20system" title=" the management information system"> the management information system</a>, <a href="https://publications.waset.org/abstracts/search?q=inventory%20management" title=" inventory management"> inventory management</a>, <a href="https://publications.waset.org/abstracts/search?q=7%20eleven%20shop" title=" 7 eleven shop"> 7 eleven shop</a> </p> <a href="https://publications.waset.org/abstracts/56141/the-management-information-system-for-convenience-stores-case-study-in-7-eleven-shop-in-bangkok" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/56141.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">482</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">10150</span> Modeling the Three - Echelon Repairable Parts Inventory System under (S-1, S) Policy</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Rohit%20Kapoor">Rohit Kapoor</a> </p> <p class="card-text"><strong>Abstract:</strong></p> In this paper, an attempt is made to formulate 3-echelon repairable parts inventory system under (S-1, S) policy. This analytical model is the extension of an exact formulation of two - echelon repairable parts inventory system, already reported in the established literature. In the present paper, we try to formulate the total cost expression consisting of two components, viz., system investment cost and expected backorder cost. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=%28S-1" title="(S-1">(S-1</a>, <a href="https://publications.waset.org/abstracts/search?q=S%29%20inventory%20policy" title=" S) inventory policy"> S) inventory policy</a>, <a href="https://publications.waset.org/abstracts/search?q=multi-echelon%20inventory%20system" title=" multi-echelon inventory system"> multi-echelon inventory system</a>, <a href="https://publications.waset.org/abstracts/search?q=repairable%20parts" title=" repairable parts"> repairable parts</a> </p> <a href="https://publications.waset.org/abstracts/36101/modeling-the-three-echelon-repairable-parts-inventory-system-under-s-1-s-policy" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/36101.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">539</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">10149</span> Real-Time Inventory Management and Operational Efficiency in Manufacturing</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Tom%20Wanyama">Tom Wanyama</a> </p> <p class="card-text"><strong>Abstract:</strong></p> We have developed a weight-based parts inventory monitoring system utilizing the Industrial Internet of Things (IIoT) to enhance operational efficiencies in manufacturing. The system addresses various challenges, including eliminating downtimes caused by stock-outs, preventing human errors in parts delivery and product assembly, and minimizing motion waste by reducing unnecessary worker movements. The system incorporates custom QR codes for simplified inventory tracking and retrieval processes. The generated data serves a dual purpose by enabling real-time optimization of parts flow within manufacturing facilities and facilitating retroactive optimization of stock levels for informed decision-making in inventory management. The pilot implementation at SEPT Learning Factory successfully eradicated data entry errors, optimized parts delivery, and minimized workstation downtimes, resulting in a remarkable increase of over 10% in overall equipment efficiency across all workstations. Leveraging the IIoT features, the system seamlessly integrates information into the process control system, contributing to the enhancement of product quality. This approach underscores the importance of effective tracking of parts inventory in manufacturing to achieve transparency, improved inventory control, and overall profitability. In the broader context, our inventory monitoring system aligns with the evolving focus on optimizing supply chains and maintaining well-managed warehouses to ensure maximum efficiency in the manufacturing industry. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=industrial%20Internet%20of%20things" title="industrial Internet of things">industrial Internet of things</a>, <a href="https://publications.waset.org/abstracts/search?q=industrial%20systems%20integration" title=" industrial systems integration"> industrial systems integration</a>, <a href="https://publications.waset.org/abstracts/search?q=inventory%20monitoring" title=" inventory monitoring"> inventory monitoring</a>, <a href="https://publications.waset.org/abstracts/search?q=inventory%20control%20in%20manufacturing" title=" inventory control in manufacturing"> inventory control in manufacturing</a> </p> <a href="https://publications.waset.org/abstracts/191890/real-time-inventory-management-and-operational-efficiency-in-manufacturing" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/191890.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">35</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">10148</span> Virtual Container Yard: A Paradigm Shift in Container Inventory Management</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Lalith%20Edirisinghe">Lalith Edirisinghe</a>, <a href="https://publications.waset.org/abstracts/search?q=Zhihong%20Jin"> Zhihong Jin</a>, <a href="https://publications.waset.org/abstracts/search?q=A.W.%20Wijeratne"> A.W. Wijeratne</a>, <a href="https://publications.waset.org/abstracts/search?q=Hansa%20Edirisinghe"> Hansa Edirisinghe</a>, <a href="https://publications.waset.org/abstracts/search?q=Lakshmi%20Ranwala%20Rashika%20Mudunkotuwa"> Lakshmi Ranwala Rashika Mudunkotuwa</a> </p> <p class="card-text"><strong>Abstract:</strong></p> A paradigm shift in container inventory management (CIM) is a long-awaited industry need. Virtual container yard (VCY) is a concept developed in 2013 and its primary objective is to minimize shipping transport cost through implementing container exchange between carriers. Shipping lines always try to maintain lower container idle time and provide higher customer satisfaction. However, it is disappointing to note that carriers turn a blind eye to the escalating cost resulted from the present inefficient CIM mechanism. The cost of empty container management is simply transferred to the importers and exporters as freight adjustments. It also creates an environmental hazard. Therefore, it has now become a problem for the society. Therefore, a paradigm shift may be required as the present CIM system is not working for common interests of human beings as it should be. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=collaboation" title="collaboation">collaboation</a>, <a href="https://publications.waset.org/abstracts/search?q=inventory" title=" inventory"> inventory</a>, <a href="https://publications.waset.org/abstracts/search?q=shipping" title=" shipping"> shipping</a>, <a href="https://publications.waset.org/abstracts/search?q=virtual%20container%20yard" title=" virtual container yard"> virtual container yard</a> </p> <a href="https://publications.waset.org/abstracts/126828/virtual-container-yard-a-paradigm-shift-in-container-inventory-management" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/126828.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">263</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">10147</span> An Assessment of Existing Material Management Process in Building Construction Projects in Nepal</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Uttam%20Neupane">Uttam Neupane</a>, <a href="https://publications.waset.org/abstracts/search?q=Narendra%20Budha"> Narendra Budha</a>, <a href="https://publications.waset.org/abstracts/search?q=Subash%20Kumar%20Bhattarai"> Subash Kumar Bhattarai</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Material management is an essential part in construction project management. There are a number of material management problems in the Nepalese construction industry, which contribute to an inefficient material management system. Ineffective material management can cause waste of time and money thus increasing the problem of time and cost overrun. An assessment of material management system with gap and solution was carried out on 20 construction projects implemented by the Federal Level Project Implementation Unit (FPIU); Kaski district of Nepal. To improve the material management process, the respondents have provided possible solutions to overcome the gaps seen in the current material management process. The possible solutions are preparation of material schedule in line with the construction schedule for material requirement planning, verifications of material and locating of source, purchasing of the required material in advance before commencement of work, classifying the materials, and managing the inventory based on their usage value and eliminating and reduction in wastages during the overall material management process. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=material%20management" title="material management">material management</a>, <a href="https://publications.waset.org/abstracts/search?q=construction%20site" title=" construction site"> construction site</a>, <a href="https://publications.waset.org/abstracts/search?q=inventory" title=" inventory"> inventory</a>, <a href="https://publications.waset.org/abstracts/search?q=construction%20project" title=" construction project"> construction project</a> </p> <a href="https://publications.waset.org/abstracts/181880/an-assessment-of-existing-material-management-process-in-building-construction-projects-in-nepal" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/181880.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">69</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">10146</span> Two-Warehouse Inventory Model for Deteriorating Items with Inventory-Level-Dependent Demand under Two Dispatching Policies</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Lei%20Zhao">Lei Zhao</a>, <a href="https://publications.waset.org/abstracts/search?q=Zhe%20Yuan"> Zhe Yuan</a>, <a href="https://publications.waset.org/abstracts/search?q=Wenyue%20Kuang"> Wenyue Kuang</a> </p> <p class="card-text"><strong>Abstract:</strong></p> This paper studies two-warehouse inventory models for a deteriorating item considering that the demand is influenced by inventory levels. The problem mainly focuses on the optimal order policy and the optimal order cycle with inventory-level-dependent demand in two-warehouse system for retailers. It considers the different deterioration rates and the inventory holding costs in owned warehouse (OW) and rented warehouse (RW), and the conditions of transportation cost, allowed shortage and partial backlogging. Two inventory models are formulated: last-in first-out (LIFO) model and first-in-first-out (FIFO) model based on the policy choices of LIFO and FIFO, and a comparative analysis of LIFO model and FIFO model is made. The study finds that the FIFO policy is more in line with realistic operating conditions. Especially when the inventory holding cost of OW is high, and there is no difference or big difference between deterioration rates of OW and RW, the FIFO policy has better applicability. Meanwhile, this paper considers the differences between the effects of warehouse and shelf inventory levels on demand, and then builds retailers’ inventory decision model and studies the factors of the optimal order quantity, the optimal order cycle and the average inventory cost per unit time. To minimize the average total cost, the optimal dispatching policies are provided for retailers’ decisions. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=FIFO%20model" title="FIFO model">FIFO model</a>, <a href="https://publications.waset.org/abstracts/search?q=inventory-level-dependent" title=" inventory-level-dependent"> inventory-level-dependent</a>, <a href="https://publications.waset.org/abstracts/search?q=LIFO%20model" title=" LIFO model"> LIFO model</a>, <a href="https://publications.waset.org/abstracts/search?q=two-warehouse%20inventory" title=" two-warehouse inventory"> two-warehouse inventory</a> </p> <a href="https://publications.waset.org/abstracts/50101/two-warehouse-inventory-model-for-deteriorating-items-with-inventory-level-dependent-demand-under-two-dispatching-policies" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/50101.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">279</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">10145</span> Reimagining the Management of Telco Supply Chain with Blockchain</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Jeaha%20Yang">Jeaha Yang</a>, <a href="https://publications.waset.org/abstracts/search?q=Ahmed%20Khan"> Ahmed Khan</a>, <a href="https://publications.waset.org/abstracts/search?q=Donna%20L.%20Rodela"> Donna L. Rodela</a>, <a href="https://publications.waset.org/abstracts/search?q=Mohammed%20A.%20Qaudeer"> Mohammed A. Qaudeer</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Traditional supply chain silos still exist today due to the difficulty of establishing trust between various partners and technological barriers across industries. Companies lose opportunities and revenue and inadvertently make poor business decisions resulting in further challenges. Blockchain technology can bring a new level of transparency through sharing information with a distributed ledger in a decentralized manner that creates a basis of trust for business. Blockchain is a loosely coupled, hub-style communication network in which trading partners can work indirectly with each other for simpler integration, but they work together through the orchestration of their supply chain operations under a coherent process that is developed jointly. A Blockchain increases efficiencies, lowers costs, and improves interoperability to strengthen and automate the supply chain management process while all partners share the risk. Blockchain ledger is built to track inventory lifecycle for supply chain transparency and keeps a journal of inventory movement for real-time reconciliation. State design patterns are used to capture the life cycle (behavior) of inventory management as a state machine for a common, transparent and coherent process which creates an opportunity for trading partners to become more responsive in terms of changes or improvements in process, reconcile discrepancies, and comply with internal governance and external regulations. It enables end-to-end, inter-company visibility at the unit level for more accurate demand planning with better insight into order fulfillment and replenishment. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=supply%20chain%20management" title="supply chain management">supply chain management</a>, <a href="https://publications.waset.org/abstracts/search?q=inventory%20trace-ability" title=" inventory trace-ability"> inventory trace-ability</a>, <a href="https://publications.waset.org/abstracts/search?q=perpetual%20inventory%20system" title=" perpetual inventory system"> perpetual inventory system</a>, <a href="https://publications.waset.org/abstracts/search?q=inventory%20lifecycle" title=" inventory lifecycle"> inventory lifecycle</a>, <a href="https://publications.waset.org/abstracts/search?q=blockchain" title=" blockchain"> blockchain</a>, <a href="https://publications.waset.org/abstracts/search?q=inventory%20consignment" title=" inventory consignment"> inventory consignment</a>, <a href="https://publications.waset.org/abstracts/search?q=supply%20chain%20transparency" title=" supply chain transparency"> supply chain transparency</a>, <a href="https://publications.waset.org/abstracts/search?q=digital%20thread" title=" digital thread"> digital thread</a>, <a href="https://publications.waset.org/abstracts/search?q=demand%20planning" title=" demand planning"> demand planning</a>, <a href="https://publications.waset.org/abstracts/search?q=hyper%20ledger%20fabric" title=" hyper ledger fabric"> hyper ledger fabric</a> </p> <a href="https://publications.waset.org/abstracts/152844/reimagining-the-management-of-telco-supply-chain-with-blockchain" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/152844.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">90</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">10144</span> Using Blockchain Technology to Extend the Vendor Managed Inventory for Sustainability</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Elham%20Ahmadi">Elham Ahmadi</a>, <a href="https://publications.waset.org/abstracts/search?q=Roshaali%20Khaturia"> Roshaali Khaturia</a>, <a href="https://publications.waset.org/abstracts/search?q=Pardis%20Sahraei"> Pardis Sahraei</a>, <a href="https://publications.waset.org/abstracts/search?q=Mohammad%20Niyayesh"> Mohammad Niyayesh</a>, <a href="https://publications.waset.org/abstracts/search?q=Omid%20Fatahi%20Valilai"> Omid Fatahi Valilai</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Nowadays, Information Technology (IT) is changing the way traditional enterprise management concepts work. One of the most dominant IT achievements is the Blockchain Technology. This technology enables the distributed collaboration of stakeholders for their interactions while fulfilling the security and consensus rules among them. This paper has focused on the application of Blockchain technology to enhance one of traditional inventory management models. The Vendor Managed Inventory (VMI) has been considered one of the most efficient mechanisms for vendor inventory planning by the suppliers. While VMI has brought competitive advantages for many industries, however its centralized mechanism limits the collaboration of a pool of suppliers and vendors simultaneously. This paper has studied the recent research for VMI application in industries and also has investigated the applications of Blockchain technology for decentralized collaboration of stakeholders. Focusing on sustainability issue for total supply chain consisting suppliers and vendors, it has proposed a Blockchain based VMI conceptual model. The different capabilities of this model for enabling the collaboration of stakeholders while maintaining the competitive advantages and sustainability issues have been discussed. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=vendor%20managed%20inventory" title="vendor managed inventory">vendor managed inventory</a>, <a href="https://publications.waset.org/abstracts/search?q=VMI" title=" VMI"> VMI</a>, <a href="https://publications.waset.org/abstracts/search?q=blockchain%20technology" title=" blockchain technology"> blockchain technology</a>, <a href="https://publications.waset.org/abstracts/search?q=supply%20chain%20planning" title=" supply chain planning"> supply chain planning</a>, <a href="https://publications.waset.org/abstracts/search?q=sustainability" title=" sustainability"> sustainability</a> </p> <a href="https://publications.waset.org/abstracts/134024/using-blockchain-technology-to-extend-the-vendor-managed-inventory-for-sustainability" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/134024.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">225</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">10143</span> Predictive Modelling Approach to Identify Spare Parts Inventory Obsolescence</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Madhu%20Babu%20Cherukuri">Madhu Babu Cherukuri</a>, <a href="https://publications.waset.org/abstracts/search?q=Tamoghna%20Ghosh"> Tamoghna Ghosh</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Factory supply chain management spends billions of dollars every year to procure and manage equipment spare parts. Due to technology -and processes changes some of these spares become obsolete/dead inventory. Factories have huge dead inventory worth millions of dollars accumulating over time. This is due to lack of a scientific methodology to identify them and send the inventory back to the suppliers on a timely basis. The standard approach followed across industries to deal with this is: if a part is not used for a set pre-defined period of time it is declared dead. This leads to accumulation of dead parts over time and these parts cannot be sold back to the suppliers as it is too late as per contract agreement. Our main idea is the time period for identifying a part as dead cannot be a fixed pre-defined duration across all parts. Rather, it should depend on various properties of the part like historical consumption pattern, type of part, how many machines it is being used in, whether it- is a preventive maintenance part etc. We have designed a predictive algorithm which predicts part obsolescence well in advance with reasonable accuracy and which can help save millions. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=obsolete%20inventory" title="obsolete inventory">obsolete inventory</a>, <a href="https://publications.waset.org/abstracts/search?q=machine%20learning" title=" machine learning"> machine learning</a>, <a href="https://publications.waset.org/abstracts/search?q=big%20data" title=" big data"> big data</a>, <a href="https://publications.waset.org/abstracts/search?q=supply%20chain%20analytics" title=" supply chain analytics"> supply chain analytics</a>, <a href="https://publications.waset.org/abstracts/search?q=dead%20inventory" title=" dead inventory"> dead inventory</a> </p> <a href="https://publications.waset.org/abstracts/56373/predictive-modelling-approach-to-identify-spare-parts-inventory-obsolescence" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/56373.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">319</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">10142</span> Modelling Patient Condition-Based Demand for Managing Hospital Inventory</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Esha%20Saha">Esha Saha</a>, <a href="https://publications.waset.org/abstracts/search?q=Pradip%20Kumar%20Ray"> Pradip Kumar Ray</a> </p> <p class="card-text"><strong>Abstract:</strong></p> A hospital inventory comprises of a large number and great variety of items for the proper treatment and care of patients, such as pharmaceuticals, medical equipment, surgical items, etc. Improper management of these items, i.e. stockouts, may lead to delay in treatment or other fatal consequences, even death of the patient. So, generally the hospitals tend to overstock items to avoid the risk of stockout which leads to unnecessary investment of money, difficulty in storing, more expiration and wastage, etc. Thus, in such challenging environment, it is necessary for hospitals to follow an inventory policy considering the stochasticity of demand in a hospital. Statistical analysis captures the correlation of patient condition based on bed occupancy with the patient demand which changes stochastically. Due to the dependency on bed occupancy, the markov model is developed that helps to map the changes in demand of hospital inventory based on the changes in the patient condition represented by the movements of bed occupancy states (acute care state, rehabilitative state and long-care state) during the length-of-stay of patient in a hospital. An inventory policy is developed for a hospital based on the fulfillment of patient demand with the objective of minimizing the frequency and quantity of placement of orders of inventoried items. The analytical structure of the model based on probability calculation is provided to show the optimal inventory-related decisions. A case-study is illustrated in this paper for the development of hospital inventory model based on patient demand for multiple inpatient pharmaceutical items. A sensitivity analysis is conducted to investigate the impact of inventory-related parameters on the developed optimal inventory policy. Therefore, the developed model and solution approach may help the hospital managers and pharmacists in managing the hospital inventory in case of stochastic demand of inpatient pharmaceutical items. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=bed%20occupancy" title="bed occupancy">bed occupancy</a>, <a href="https://publications.waset.org/abstracts/search?q=hospital%20inventory" title=" hospital inventory"> hospital inventory</a>, <a href="https://publications.waset.org/abstracts/search?q=markov%20model" title=" markov model"> markov model</a>, <a href="https://publications.waset.org/abstracts/search?q=patient%20condition" title=" patient condition"> patient condition</a>, <a href="https://publications.waset.org/abstracts/search?q=pharmaceutical%20items" title=" pharmaceutical items"> pharmaceutical items</a> </p> <a href="https://publications.waset.org/abstracts/50442/modelling-patient-condition-based-demand-for-managing-hospital-inventory" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/50442.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">323</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">10141</span> Sensitive Analysis of the ZF Model for ABC Multi Criteria Inventory Classification</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Makram%20Ben%20Jeddou">Makram Ben Jeddou</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The ABC classification is widely used by managers for inventory control. The classical ABC classification is based on the Pareto principle and according to the criterion of the annual use value only. Single criterion classification is often insufficient for a closely inventory control. Multi-criteria inventory classification models have been proposed by researchers in order to take into account other important criteria. From these models, we will consider the ZF model in order to make a sensitive analysis on the composite score calculated for each item. In fact, this score based on a normalized average between a good and a bad optimized index can affect the ABC items classification. We will then focus on the weights assigned to each index and propose a classification compromise. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=ABC%20classification" title="ABC classification">ABC classification</a>, <a href="https://publications.waset.org/abstracts/search?q=multi%20criteria%20inventory%20%20classification%20models" title=" multi criteria inventory classification models"> multi criteria inventory classification models</a>, <a href="https://publications.waset.org/abstracts/search?q=ZF-model" title=" ZF-model"> ZF-model</a> </p> <a href="https://publications.waset.org/abstracts/22613/sensitive-analysis-of-the-zf-model-for-abc-multi-criteria-inventory-classification" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/22613.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">508</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">10140</span> A Dynamical Approach for Relating Energy Consumption to Hybrid Inventory Level in the Supply Chain</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Benga%20Ebouele">Benga Ebouele</a>, <a href="https://publications.waset.org/abstracts/search?q=Thomas%20Tengen"> Thomas Tengen</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Due to long lead time, work in process (WIP) inventory can manifest within the supply chain of most manufacturing system. It implies that there are lesser finished good on hand and more in the process because the work remains in the factory too long and cannot be sold to either customers The supply chain of most manufacturing system is then considered as inefficient as it take so much time to produce the finished good. Time consumed in each operation of the supply chain has an associated energy costs. Such phenomena can be harmful for a hybrid inventory system because a lot of space to store these semi-finished goods may be needed and one is not sure about the final energy cost of producing, holding and delivering the good to customers. The principle that reduces waste of energy within the supply chain of most manufacturing firms should therefore be available to all inventory managers in pursuit of profitability. Decision making by inventory managers in this condition is a modeling process, whereby a dynamical approach is used to depict, examine, specify and even operationalize the relationship between energy consumption and hybrid inventory level. The relationship between energy consumption and inventory level is established, which indicates a poor level of control and hence a potential for energy savings. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=dynamic%20modelling" title="dynamic modelling">dynamic modelling</a>, <a href="https://publications.waset.org/abstracts/search?q=energy%20used" title=" energy used"> energy used</a>, <a href="https://publications.waset.org/abstracts/search?q=hybrid%20inventory" title=" hybrid inventory"> hybrid inventory</a>, <a href="https://publications.waset.org/abstracts/search?q=supply%20chain" title=" supply chain"> supply chain</a> </p> <a href="https://publications.waset.org/abstracts/41799/a-dynamical-approach-for-relating-energy-consumption-to-hybrid-inventory-level-in-the-supply-chain" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/41799.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">268</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">10139</span> Estimation of PM2.5 Emissions and Source Apportionment Using Receptor and Dispersion Models</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Swetha%20Priya%20Darshini%20Thammadi">Swetha Priya Darshini Thammadi</a>, <a href="https://publications.waset.org/abstracts/search?q=Sateesh%20Kumar%20Pisini"> Sateesh Kumar Pisini</a>, <a href="https://publications.waset.org/abstracts/search?q=Sanjay%20Kumar%20Shukla"> Sanjay Kumar Shukla</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Source apportionment using Dispersion model depends primarily on the quality of Emission Inventory. In the present study, a CMB receptor model has been used to identify the sources of PM<sub>2.5</sub>, while the AERMOD dispersion model has been used to account for missing sources of PM<sub>2.5 </sub>in the Emission Inventory. A statistical approach has been developed to quantify the missing sources not considered in the Emission Inventory. The inventory of each grid was improved by adjusting emissions based on road lengths and deficit in measured and modelled concentrations. The results showed that in CMB analyses, fugitive sources - soil and road dust - contribute significantly to ambient PM<sub>2.5</sub> pollution. As a result, AERMOD significantly underestimated the ambient air concentration at most locations. The revised Emission Inventory showed a significant improvement in AERMOD performance which is evident through statistical tests. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=CMB" title="CMB">CMB</a>, <a href="https://publications.waset.org/abstracts/search?q=GIS" title=" GIS"> GIS</a>, <a href="https://publications.waset.org/abstracts/search?q=AERMOD" title=" AERMOD"> AERMOD</a>, <a href="https://publications.waset.org/abstracts/search?q=PM%E2%82%82.%E2%82%85" title=" PM₂.₅"> PM₂.₅</a>, <a href="https://publications.waset.org/abstracts/search?q=fugitive" title=" fugitive"> fugitive</a>, <a href="https://publications.waset.org/abstracts/search?q=emission%20inventory" title=" emission inventory"> emission inventory</a> </p> <a href="https://publications.waset.org/abstracts/95921/estimation-of-pm25-emissions-and-source-apportionment-using-receptor-and-dispersion-models" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/95921.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">340</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">10138</span> Inventory Policy Above Country Level for Cooperating Countries for Vaccines</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Aysun%20P%C4%B1narba%C5%9F%C4%B1">Aysun Pınarbaşı</a>, <a href="https://publications.waset.org/abstracts/search?q=B%C3%A9la%20Vizv%C3%A1ri"> Béla Vizvári</a> </p> <p class="card-text"><strong>Abstract:</strong></p> The countries are the units that procure the vaccines during the COVID-19 pandemic. The delivered quantities are huge. The countries must bear the inventory holding cost according to the variation of stock quantities. This cost depends on the speed of the vaccination in the country. This speed is time-dependent. The vaccinated portion of the population can be approximated by the cumulative distribution function of the Cauchy distribution. A model is provided for determining the minimal-cost inventory policy, and its optimality conditions are provided. The model is solved for 20 countries for different numbers of procurements. The results reveal the individual behavior of each country. We provide an inventory policy for the pandemic period for the countries. This paper presents a deterministic model for vaccines with a demand rate variable over time for the countries. It is aimed to provide an analytical model to deal with the minimization of holding cost and develop inventory policies regarding this aim to be used for a variety of perishable products such as vaccines. The saturation process is introduced, and an approximation of the vaccination curve of the countries has been discussed. According to this aspect, a deterministic model for inventory policy has been developed. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=covid-19" title="covid-19">covid-19</a>, <a href="https://publications.waset.org/abstracts/search?q=vaccination" title=" vaccination"> vaccination</a>, <a href="https://publications.waset.org/abstracts/search?q=inventory%20policy" title=" inventory policy"> inventory policy</a>, <a href="https://publications.waset.org/abstracts/search?q=bounded%20total%20demand" title=" bounded total demand"> bounded total demand</a>, <a href="https://publications.waset.org/abstracts/search?q=inventory%20holding%20cost" title=" inventory holding cost"> inventory holding cost</a>, <a href="https://publications.waset.org/abstracts/search?q=cauchy%20distribution" title=" cauchy distribution"> cauchy distribution</a>, <a href="https://publications.waset.org/abstracts/search?q=sigmoid%20function" title=" sigmoid function"> sigmoid function</a> </p> <a href="https://publications.waset.org/abstracts/162848/inventory-policy-above-country-level-for-cooperating-countries-for-vaccines" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/162848.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">76</span> </span> </div> </div> <div class="card paper-listing mb-3 mt-3"> <h5 class="card-header" style="font-size:.9rem"><span class="badge badge-info">10137</span> Spare Part Inventory Optimization Policy: A Study Literature</h5> <div class="card-body"> <p class="card-text"><strong>Authors:</strong> <a href="https://publications.waset.org/abstracts/search?q=Zukhrof%20Romadhon">Zukhrof Romadhon</a>, <a href="https://publications.waset.org/abstracts/search?q=Nani%20Kurniati"> Nani Kurniati</a> </p> <p class="card-text"><strong>Abstract:</strong></p> Availability of Spare parts is critical to support maintenance tasks and the production system. Managing spare part inventory deals with some parameters and objective functions, as well as the tradeoff between inventory costs and spare parts availability. Several mathematical models and methods have been developed to optimize the spare part policy. Many researchers who proposed optimization models need to be considered to identify other potential models. This work presents a review of several pertinent literature on spare part inventory optimization and analyzes the gaps for future research. Initial investigation on scholars and many journal database systems under specific keywords related to spare parts found about 17K papers. Filtering was conducted based on five main aspects, i.e., replenishment policy, objective function, echelon network, lead time, model solving, and additional aspects of part classification. Future topics could be identified based on the number of papers that haven’t addressed specific aspects, including joint optimization of spare part inventory and maintenance. <p class="card-text"><strong>Keywords:</strong> <a href="https://publications.waset.org/abstracts/search?q=spare%20part" title="spare part">spare part</a>, <a href="https://publications.waset.org/abstracts/search?q=spare%20part%20inventory" title=" spare part inventory"> spare part inventory</a>, <a href="https://publications.waset.org/abstracts/search?q=inventory%20model" title=" inventory model"> inventory model</a>, <a href="https://publications.waset.org/abstracts/search?q=optimization" title=" optimization"> optimization</a>, <a href="https://publications.waset.org/abstracts/search?q=maintenance" title=" maintenance"> maintenance</a> </p> <a href="https://publications.waset.org/abstracts/181509/spare-part-inventory-optimization-policy-a-study-literature" class="btn btn-primary btn-sm">Procedia</a> <a href="https://publications.waset.org/abstracts/181509.pdf" target="_blank" class="btn btn-primary btn-sm">PDF</a> <span class="bg-info text-light px-1 py-1 float-right rounded"> Downloads <span class="badge badge-light">62</span> </span> </div> </div> <ul class="pagination"> <li class="page-item disabled"><span class="page-link">&lsaquo;</span></li> <li class="page-item active"><span class="page-link">1</span></li> <li class="page-item"><a class="page-link" href="https://publications.waset.org/abstracts/search?q=inventory%20management&page=2">2</a></li> <li class="page-item"><a class="page-link" href="https://publications.waset.org/abstracts/search?q=inventory%20management&page=3">3</a></li> <li class="page-item"><a class="page-link" href="https://publications.waset.org/abstracts/search?q=inventory%20management&page=4">4</a></li> <li class="page-item"><a class="page-link" href="https://publications.waset.org/abstracts/search?q=inventory%20management&page=5">5</a></li> <li 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