INVENTORY MANAGEMENT WITH STOCHASTIC DEMAND: CASE STUDY OF A MEDICAL EQUIPMENT COMPANY

Ternero, R.; Sepulveda-Rojas, J. P.; ALFARO-MARCHANT, MIGUEL DOMINGO; Fuertes, Guillermo; Vargas, Manuel

Abstract

This research proposes an inventory management system based on a periodic review model for a medical equipment company. The work aims to reduce inventory volume and out-of-stock and to improve service levels. The proposed methodology is a combined ABC/XYZ classification using the patterns and magnitude of demand under the constraints of spare parts cost. For the ABC/XYZ classification, we propose a model to forecast demand; and we evaluate eight forecasting methods to adjust the classification characteristics. The results obtained allow the reduction of arrears, an increased service level, and a decrease in average inventory.

Más información

Título según WOS: ID WOS:001015487600011 Not found in local WOS DB
Título según SCOPUS: ID SCOPUS_ID:85161295831 Not found in local SCOPUS DB
Título de la Revista: South African #Journal of Industrial Engineering
Volumen: 34
Fecha de publicación: 2023
Página de inicio: 131
Página final: 142
DOI:

10.7166/34-1-2668

Notas: ISI, SCOPUS