Proposal for Optimization of the Inventory Level Using the Appropriate Method for its Procurement/Prijedlog za optimizaciju razine inventara koristenjem prikladne metode za njihovu opskrbu

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 p...

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Bibliographic Details
Published in:Naše more znanstveni časopis za more i pomorstvo 2016-01, Vol.63 (3), p.195-195
Main Authors: Stopka, Ondrej, Chovancova, Maria, Lizbetin, Jan, Klapita, Vladimir
Format: Article
Language:English
Subjects:
Algorithms
Criteria
Inventories
Optimization
Procurement
Proposals
Risk
Stockpiling
Online Access:Get full text
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Summary: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.
ISSN:0469-6255
1848-6320
DOI:10.17818/NM/2016/SI22