Abstract
Inventory management is a challenging problem area in supply chain management. Companies need to have inventories in warehouses in order to fulfil customer demand, meanwhile these inventories have holding costs and this is frozen fund that can be lost. Therefore, the task of inventory management is to find the quantity of inventories that will fulfil the demand, avoiding overstocks. This paper presents a case study for the assembling company on inventory management. It is proposed to use inventory management in order to decrease stock levels and to apply an agent system for automation of inventory management processes.
Highlights
Inventory is the stock of any item or resource used in an organisation [1]
The proposed system can be used in two modes: completely autonomous mode, when an agent performs all of the inventory management operations: ABC classification, future demand forecasting, replenishment policy definition and assembling order making, or it works as a decision support system for a human inventory manager performing all the mentioned activities except ordering by providing the achieved results to an inventory manager and he decides whether to accept or not these recommendations
Having calculations on future demand and replenishment policies, the proposed inventory management result check on real data is of interest
Summary
Inventory is the stock of any item or resource used in an organisation [1]. There are three types of manufacturing inventories: raw materials, work in progress and finished goods (Fig. 1). This paper is organised as follows: at first, the task is presented, after that the existing situation is analysed, the solution is proposed, after that the experiments are shown and, conclusions are presented
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