Models of multiproduct inventory control with discrete non-deterministic non-stationary demand

A. A. Gritsaj

Vestnik Tverskogo gosudarstvennogo universiteta. Seriâ Prikladnaâ matematika, no. 2 (2018), pp. 99-122

Résumé

In the paper described a model of multiproduct inventory control with discrete non-deterministic time-varying demand and fixed order period taking into account best before dates, shortages, cost of holding inventory, cost of funds and gap in purchase prices. Also, the model takes into account the multiplicity of delivery, the minimum possible order quantity in monetary units, delivery time of item, shipping cost and order processing. With the use of the developed model there is solved three tasks inventory management: calculating the optimal inventory, the choice of the optimal period of ordering, the selection of the best supplier. The numerical example of solving the problem of calculating the optimal inventory is described. All three models are implemented in a developed computer system for stocks control and optimization of trade enterprises Forecast NOW! The system is aimed at small and medium-sized commercial enterprises. It allows you to release funds in the amount of 20-30% of the volume of reserves and to increase the level of satisfied demand by 5-7%. This is achieved by accurate forecasting of inventory based on the optimum level of service for each item. Software implementation system support of inventory models discussed in Chapter 5.

Détail

Keywords: inventory management, inventory optimization, inventory management, demand forecasting, optimal service level, optimal inventory, optimal period of the order, the optimum supplier, level of service, software product.