Inventory Model Design by Implementing New Parameters into the Deterministic Model Objective Function to Streamline Effectiveness Indicators of the Inventory Management

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F75081431%3A_____%2F19%3A00001604" target="_blank" >RIV/75081431:_____/19:00001604 - isvavai.cz</a>

Result on the web

<a href="https://www.mdpi.com/2071-1050/11/15/4175" target="_blank" >https://www.mdpi.com/2071-1050/11/15/4175</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.3390/su11154175" target="_blank" >10.3390/su11154175</a>

Result language

angličtina

Original language name

Inventory Model Design by Implementing New Parameters into the Deterministic Model Objective Function to Streamline Effectiveness Indicators of the Inventory Management

Original language description

The aim of this article is to modify the parameters and thus the objective function of the deterministic model of inventory theory so that other important aspects, which influence inventory management, can be taken into consideration. These aspects include the nature of inventory consumption, the share of inventories in sales, the capacity of means of transport and, above all, the reliability of suppliers. This goal is achieved by performing sophisticated and specific calculations for the individual parameters in the modified model. The modification of the objective function of the deterministic model has created a new multi-criteria model. The outcome of this model sought to optimize the supply process in a way that minimizes the risks associated with a lack of inventories while maintaining the economic effectiveness thereof. The model effectiveness is examined by comparing the application of the deterministic model and the proposed model with modified objective function. The results of applying these individual models have been produced based on calculations of indicators showing inventory management effectiveness—the speed of inventory turnover and the average number of inventories in storage.

Czech name

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Czech description

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Type

J_SC - Article in a specialist periodical, which is included in the SCOPUS database

CEP classification

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OECD FORD branch

50703 - Transport planning and social aspects of transport (transport engineering to be 2.1)

Project

<a href="/en/project/LTC19009" target="_blank" >LTC19009: Autonomous mobility in the context of regional development</a><br>

Continuities

P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)<br>S - Specificky vyzkum na vysokych skolach

Publication year

2019

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Name of the periodical

Sustainability

ISSN

2071-1050

e-ISSN

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Volume of the periodical

Vol. 11

Issue of the periodical within the volume

Issue 15

Country of publishing house

CH - SWITZERLAND

Number of pages

15

Pages from-to

1-15

UT code for WoS article

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EID of the result in the Scopus database

2-s2.0-85070364676