Inventory management in manufacturing organizations
Abstract
Inventory management in organizations is one of the most important issues that should be treated as seriously as possible since it is directly related to customer satisfaction and cost reduction. This article provides a literature review of inventory management models in the industry, which is classified into three sections, item classification models, demand forecasting models and inventory management models. The models identified in each of these sections are presented in tables, and the relevant information for each. Among the results obtained, it can be concluded that despite the good participation of multi-criteria classification, the traditional ABC classification with a single criterion is still the most used, that the most used forecasting methods for demand forecasting are time series and that the most studied inventory management models are those implemented when independent demand is considered.
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