Raw Material Inventory Reduction In An Automobile Assembly Plant
An application of Multi-Criteria ABC Classification, Fill Rate Analysis, Min-Max Model & Vendor Scheduling
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Inventory ties up working capital and incurs holding cost which reduces profit for every excess stock held. In large organizations, the cost associated with inventory can run into millions of dollars. So there is always a need for determining an optimum inventory level so that it can avoid under-stocking and overstocking. The work in the dissertation shows how simple inventory management approach can minimize the inventory investment. It shows the application of Multi-Criteria ABC classification, Min Max inventory model, service level calculation and vendor scheduling along with the conceptual...
Inventory ties up working capital and incurs holding cost which reduces profit for every excess stock held. In large organizations, the cost associated with inventory can run into millions of dollars. So there is always a need for determining an optimum inventory level so that it can avoid under-stocking and overstocking. The work in the dissertation shows how simple inventory management approach can minimize the inventory investment. It shows the application of Multi-Criteria ABC classification, Min Max inventory model, service level calculation and vendor scheduling along with the conceptualized literature review. The book can be of great help to supply chain professional in the field of inventory management.
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