Hello fellow researchers.
I want to have your insigth on the categorization of inventory model based on demand pattern data. i have 8 item in different consumption value class and of course different consumption rate.
currently im using Average demand interval (ADI) analysis and coefficient variation (CV) analysis to categorize irregular pattern as lumpy, intermitten, erratic and smooth. as far as analyzed them by monthly usage , 2 of them are erratic and 6 are lumpy.
for the inventory model categorization, i already know 4 types of them based the book ive read (silver, et al 1998): continous review model : (s,S), (s,Q) Period review model : (R,s,S),(R,S)
do you guys have any insigth how to categorized them to wich kind of inventory model will be used in the first place based on the demand pattern i attached?
further, i will use those model and calculate their variables to get the optimal value using cost minimization function.
Hi,
I think it is doable, but definitely not too easy. You could take a look into these:
Conference Paper Scheme for Inventory Management Parameter Readjusting Based ...
Conference Paper Dynamic Inventory Management Parameters Adjusting Scheme as ...
Conference Paper Adjusting inventories based on demand prediction using dynam...
Conference Paper Applicability of CPFR in Inventory Replenishment Operation M...
Article Systematic literature review and research gap issues on 3rd ...
Conference Paper Exception Management in Inventory Replenishment Operation Mo...
B.R.,
Ari
This can be done by calculating the coefficient of variation for historical sales or purchases data
See Hamdi Taha
Introduction to Operations Research eighth edition
There are four types of models
It is determined by the coefficient of variation, which is
.. static models
.. Dynamic Models
.. Stable Probability Models
.. Unstable Probability Models (Simulation)
It is important to analyze if the demand for products is real and true, stocks are dynamic with great movements, I recommend reading the book by Ronald H. Ballou
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