Review article
https://doi.org/10.17818/NM/2016/SI22
Proposal for Optimization of the Inventory Level Using the Appropriate Method for its Procurement
Ondrej Stopka
orcid.org/0000-0002-0932-4381
; Department of Transport and Logistics Institute of Technology and Business České Budějovice, Czech Republic
Mária Chovancová
; Department of Rail Transport Faculty of Operation and Economics of Transport and Communications University of Žilina, Slovak Republic
Ján Ližbetin
orcid.org/0000-0001-8081-8993
; Department of Transport and Logistics Institute of Technology and Business České Budějovice, Czech Republic
Vladimír Klapita
; Department of Rail Transport Faculty of Operation and Economics of Transport and Communications University of Žilina, Slovak Republic
Abstract
This paper deals with the optimization of the inventory level through determining and applying the appropriate way for the procurement of the inventory. It is important to determine the optimization criteria which are proposed on the basis of defining the factors affecting the determination of the procurement method. The criteria are proposed in such way in order the costs are optimized, and at the same time, the risk of the inventory deficiency is reduced. The paper also contains the algorithm regarding the determination of the appropriate procurement method. This algorithm takes into account the particular set of criteria and the proposal of multi-criteria model of the inventory management. Subsequently, the specific cases of costs reduction and reduction of risk of the inventory deficiency when applying the proposed model in comparison with the application of existing models are presented.
Keywords
optimization; inventory level; procurement; multi-criteria model; inventory management
Hrčak ID:
162592
URI
Publication date:
27.7.2016.
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