Abstract

TERNERO, R. et al. Inventory management with stochastic demand: case study of a medical equipment company. S. Afr. J. Ind. Eng. [online]. 2023, vol.34, n.1, pp.131-142. ISSN 2224-7890.  https://doi.org/10.7166/34-1-2668.

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.

        · abstract in Afrikaans     · text in English     · English ( pdf )