Planning of Optimal Capacity for the Middle-Sized Storage Using a Mathematical Model

Jozef Kuľka,Martin Mantič,Marián Siman,Eva Faltinová,Melichar Kopas

doi:10.1515/eng-2019-0077

Abstract

Abstract The article deals with the issue of midsize businesses, their position within the association, and specifically determining the size and range of stocks in their ware-houses. A mathematical model is used and several examples explain the issue of calculating warehouse items.

Highlights

Due to the ongoing globalisation especially small and midsize companies are affected by the immense pressure to reduce cost wherever they can
With this mathematic model it can be determined which items are essential to stock in order not to risk a potential production stop caused by a no stock situation. This model allows to individual choose the most suitable protection level for different items. (Depending on their importance for the ongoing production flow) The further aim is to analysis and quantify the expected demand of items to be stocked by using mathematic principles to obtain the most efficient quantity and minimising the investment in stockings
Capture the amount of system redundancy the company owner intends to consider in his planning CRF= 0 for category 1 spare parts

Summary

Introduction

Due to the ongoing globalisation especially small and midsize companies are affected by the immense pressure to reduce cost wherever they can. There are many expensive tools and products to streamline the set up of warehouses available on the market For those of the companies who could not afford or are incapable to incorporate they could make use of the help of a mathematical approach model which is capable to identify the optimised amount of spare parts on basis of key driving parameters tailored to each of the individual circumstances [6]. On the other hand they have the pressure not to over stock and invest too much on potential unused spare parts To cope with these complex requirements the use of an adjusted mathematical approach model seems to be promising solution [7,8,9]

The Mathematic Model Approach

Poisson Distribution Table

Application of the Poisson Distribution Formula on Concrete Examples

Optimization of Stocks in Storehouses

Findings

Conclusion