Adaptive inventory control system for material items with continuous non-stationary demand

This paper describes an algorithm of dynamic inventory control system for large numbers of material items with continuous non-stationary demand. It uses principles of pull inventory control systems, statistical inventory analysis and joint replenishment inventory systems. This algorithm was processe...

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Veröffentlicht in:Management and Production Engineering Review 2014-03, Vol.5 (1), p.11-20
Hauptverfasser: Krajcovic, Martin, Plinta, Dariusz
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description This paper describes an algorithm of dynamic inventory control system for large numbers of material items with continuous non-stationary demand. It uses principles of pull inventory control systems, statistical inventory analysis and joint replenishment inventory systems. This algorithm was processed in software module (VBA for Excel) and applied in practice. The target of described algorithm is to keep an optimum inventory level and optimum customer service level in terms of inventory control of items with non-stationary demand.
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subjects Algorithms
Demand
Dynamical systems
Dynamics
Inventories
Inventory controls
Optimization
Stockpiling
title Adaptive inventory control system for material items with continuous non-stationary demand
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