Professional paper

A TRADING COMPANY'S INVENTORY MANAGEMENT MODEL

Stjepan Vidačić ; Faculty of Organization and Informatics, University of Zagreb, Varaždin, Croatia

Abstract

This paper is a review of some general mathematical models for inventories management and an example of their application in a trading company's inventory management. The first part of this paper is a description of the problem of optimal inventories management in a complex trading company that deals with a wide range of 'products, and where the function of ordering goods is distributed according to the types of goods among several marketing officers. The second part of the paper is a summary of some existing general mathematical models for inventories management. The third part of the paper is a definition of the basic requirements for the automatic management of goods inventories in a trading company. The fourth part of this work presents a mathematical model for a trading company's inventory management, which is done automatically by a commercial program package for inventory accounting. By using this application a company may make substantial savings.

Keywords

inventories management; mathematical model; trading company; supply; demand; order

Hrčak ID:

78763

URI

https://hrcak.srce.hr/78763

Publication date:

11.6.1999.

Visits: 4.768 *