Tuning inventory policy parameters in a small chemical company

Tuning inventory policy parameters in a small chemical company

A project to improve inventory management in a small UK chemical company is described. A research group comprising university academics and company managers for logistics and information technology examined current practices and analysed a database of historical records of business operations of the...

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Veröffentlicht in:The Journal of the Operational Research Society 2003-04, Vol.54 (4), p.350-361
Hauptverfasser: García-Flores, R, Wang, X Z, Burgess, T F
Format: Artikel
Sprache:eng
Schlagworte:
Alliances
Analytical forecasting
Applied sciences
Business and Management
Case Oriented Papers
Case-oriented Paper
Chemical industry
chemicals
Customers
Data mining
Economic value
Electronic data interchange
Exact sciences and technology
Finished goods
forecasting
Forecasting models
Forecasting techniques
Information systems
Inventories
Inventory
Inventory control
Inventory control, production control. Distribution
Inventory management
Laboratories
Management
Manufacturing
Mathematical models
Operational research and scientific management
Operational research. Management science
Operations research
Operations Research/Decision Theory
practice of OR
Raw materials
Schools
small and medium enterprises
Studies
Suppliers
Time series forecasting
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Beschreibung
Zusammenfassung:A project to improve inventory management in a small UK chemical company is described. A research group comprising university academics and company managers for logistics and information technology examined current practices and analysed a database of historical records of business operations of the company. Based on the analysis, a scheme to categorise stock and set ordering policies to optimise inventory costs was developed. Some comments are made on process issues and the learning that took place.
ISSN:0160-5682
1476-9360
DOI:10.1057/palgrave.jors.2601530