Increasing Efficiency in Inventory Control of Products with Sporadic Demand Using Simulation

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F46747885%3A24310%2F22%3A00009876" target="_blank" >RIV/46747885:24310/22:00009876 - isvavai.cz</a>

Výsledek na webu

<a href="http://aip.vse.cz/doi/10.18267/j.aip.184.pdf" target="_blank" >http://aip.vse.cz/doi/10.18267/j.aip.184.pdf</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.18267/j.aip.184" target="_blank" >10.18267/j.aip.184</a>

Jazyk výsledku

angličtina

Název v původním jazyce

Increasing Efficiency in Inventory Control of Products with Sporadic Demand Using Simulation

Popis výsledku v původním jazyce

The goal of this paper is to examine whether in Q-system inventory control policy a combination of the reorder point exceeding order quantity lead to the minimal holding and ordering costs when dealing with sporadic demand. For this purpose past stock movement simulation is applied to the set of randomly generated data with different number of zero demand periods ranging from 10-90%. The outputs of the simulation prove that in situations when stock holding costs are too high the simulation tends to reduce average stock by overcoming periods between two demand peaks with increase in number of small replenishment orders and reaches lower stock holding and ordering costs. Furthermore, the correlation analysis proves that there is a statistically significant relationship (r = .847, p = .004) between the number of timeseries that reach the minimal holding and ordering costs under the control of reorder point ` replenishment order and the demand standard deviation affected by the evolving sporadicity. These findings can support the decision making linked with inventory management of products with sporadic demand and contribute to the development of business information systems.

Název v anglickém jazyce

Increasing Efficiency in Inventory Control of Products with Sporadic Demand Using Simulation

Popis výsledku anglicky

The goal of this paper is to examine whether in Q-system inventory control policy a combination of the reorder point exceeding order quantity lead to the minimal holding and ordering costs when dealing with sporadic demand. For this purpose past stock movement simulation is applied to the set of randomly generated data with different number of zero demand periods ranging from 10-90%. The outputs of the simulation prove that in situations when stock holding costs are too high the simulation tends to reduce average stock by overcoming periods between two demand peaks with increase in number of small replenishment orders and reaches lower stock holding and ordering costs. Furthermore, the correlation analysis proves that there is a statistically significant relationship (r = .847, p = .004) between the number of timeseries that reach the minimal holding and ordering costs under the control of reorder point ` replenishment order and the demand standard deviation affected by the evolving sporadicity. These findings can support the decision making linked with inventory management of products with sporadic demand and contribute to the development of business information systems.

Druh

J_imp - Článek v periodiku v databázi Web of Science

CEP obor

—

OECD FORD obor

50200 - Economics and Business

Projekt

—

Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2022

Kód důvěrnosti údajů

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

Název periodika

Acta Informatica Pragensia

ISSN

1805-4951

e-ISSN

—

Svazek periodika

11

Číslo periodika v rámci svazku

2

Stát vydavatele periodika

CZ - Česká republika

Počet stran výsledku

10

Strana od-do

—

Kód UT WoS článku

001105626500006

EID výsledku v databázi Scopus

2-s2.0-85136684527