ABC Inventory Research Articles

ABC analysis using Particle Swarm Optimization and its performance evaluation with other models

PurposeThe purpose of this article is to develop a cost-effective model for Multi-Criteria ABC Inventory Classification and to measure its performance in comparison to the other existing models.Design/methodology/approachParticle Swarm Optimization (PSO) algorithm is exclusively designed for Multi-Criteria ABC Inventory Classification wherein the inventory is classified based on the objective of cost minimization, which is achieved through the inventory performance index – total relevant cost. Effectiveness of classification of the proposed model and the other classification models toward two inventory performance measures, that is, cost and inventory turnover has been computed, and the results of all models are relatively compared by arriving at the cumulative performance score of each model.FindingsThis study reveals that the ABC Inventory classification based on the proposed PSO approach is more effective toward cost and inventory turnover ratio in comparison to the twenty existing models.Practical implicationsThe proposed model can be easily adapted to the industrial requirement of inventory classification by cost as objective as well as other inventory management performance measures.Originality/valueThe conceptual model is more versatile which can be adapted for various objectives and the effectiveness of classification in comparison to the other models can be measured toward each objective as well as combining all the objectives.

A Proposed Extended Version of the Hadi-Vencheh Model to Improve Multiple-Criteria ABC Inventory Classification

The ABC classification problem is approached as a ranking problem by the most current classification models; that is, a group of inventory items is expressed according to its overall weighted score of criteria in descending order. In this paper, we present an extended version of the Hadi-Vencheh model for multiple-criteria ABC inventory classification. The proposed model is one based on the nonlinear weighted product method (WPM), which determines a common set of weights for all items. Our proposed nonlinear WPM incorporates multiple criteria with different measured units without converting the performance of each inventory item, in terms of converting each criterion into a normalized attribute value, thereby providing an improvement over the model proposed by Hadi-Vencheh. Our study mainly includes various criteria for ABC classification and demonstrates an efficient algorithm for solving nonlinear programming problems, in which the feasible solution set does not have to be convex. The algorithm presented in this study substantially improves the solution efficiency of the canonical coordinates method (CCM) algorithm when applied to large-scale, nonlinear programming problems. The modified algorithm was tested to compare our proposed model results to the results derived using the Hadi-Vencheh model and demonstrate the algorithm’s efficacy. The practical objectives of the study were to develop an efficient nonlinear optimization solver by optimizing the quality of existing solutions, thus improving time and space efficiency.

Improving Distributed Decision Making in Inventory Management: A Combined ABC-AHP Approach Supported by Teamwork

The need of organizations to ensure service levels that impact on customer satisfaction has required the design of collaborative processes among stakeholders involved in inventory decision making. The increase of quantity and variety of items, on the one hand, and demand and customer expectations, on the other hand, are transformed into a greater complexity in inventory management, requiring effective communication and agreements between the leaders of the logistics processes. Traditionally, decision making in inventory management was based on approaches conditioned only by cost or sales volume. These approaches must be overcome by others that consider multiple criteria, involving several areas of the companies and taking into account the opinions of the stakeholders involved in these decisions. Inventory management becomes part of a complex system that involves stakeholders from different areas of the company, where each agent has limited information and where the cooperation between such agents is key for the system’s performance. In this paper, a distributed inventory control approach was used with the decisions allowing communication between the stakeholders and with a multicriteria group decision-making perspective. This work proposes a methodology that combines the analysis of the value chain and the AHP technique, in order to improve communication and the performance of the areas related to inventory management decision making. This methodology uses the areas of the value chain as a theoretical framework to identify the criteria necessary for the application of the AHP multicriteria group decision-making technique. These criteria were defined as indicators that measure the performance of the areas of the value chain related to inventory management and were used to classify ABC inventory of the products according to these selected criteria. Therefore, the methodology allows us to solve inventory management DDM based on multicriteria ABC classification and was validated in a Colombian company belonging to the graphic arts sector.

ABC Inventory Classification Considering Economic Available Life and Opportunity Cost

ABC Inventory Classification Considering Economic Available Life and Opportunity Cost

Flexible ABC Inventory Classification

ABC inventory classification is a well-known approach to assign inventory item into A, B, and C groups based on their sales and usage volume. This helps inventory management become more efficient. Behind its advantage, it usually shows some problems with an inventory budget and warehouse space because the ABC assignment of SKUs are mad e without an inventory budget and space available involved. In this paper, the ABC group under restricted of an inventory budget and warehouse space to maximize the profit with optimal service level is presented. We establish this proposed model to enhance the existing ABC approach to be more applicable in real life, which has the limited inventory budget and warehouse space. Keywords: ABC Inventory Classification; Inventory Management

Designing MRP Model in the Condition of Capacity Constraints and Variability of Delivery for Critical Items in ABC Inventory Model “Case Study in National Company of South’s Oil-rich”

In productive enterprises, timely preparation and procurement of goods is very important due to that related costs to the production and working capitals of organization is severely affected. In available scientific methods, including MRP, regardless of resource constraints and other factors, the amount of lead time of goods has always considered to be fixed. In this paper, then a model will present that lead time of goods is considered as dynamic by using statistical and also effectiveness models from internal and external environment variables of organization and optimized the cost of production in order to reduce the latency in timely receiving and balancing the warehousing time. At the end, researcher with the implementation of issue in a simulated environment and compare it with the real environment, shows the advantage of proposed model compared to other models by numbers and figures.

RELACIÓN ENTRE LA AUTORREGULACIÓN PERSONAL Y LA CONFIANZA ACADÉMICA (PRESAGIO) CON EL ENGAGEMENT-BOURNOUT DE LOS ESTUDIANTES UNIVERSITARIOS (PRODUCTO)

Resumen.Introducción. La autorregulación personal ha sido definida como la capacidad de una persona para planificar, supervisar y dirigir su comportamiento en situaciones de cambio. La confianza académica es un término general que suele considerarse con carácter menos específico de la situación y, como tal, podría ser visto como un constructo de auto-eficacia académica. El Modelo 3P ha establecido diversas variables de presagio, proceso y producto de los alumnos, con una evidencia empírica consistente de estas relaciones. Entre las mismas, la investigación reciente está centrada en el establecimiento del papel de las variables emocionales y sus relaciones con las de carácter motivacional y cognitivo.Método. Un total de 250 estudiantes de la Universidad de Almería (España, correspondientes a segundo y cuarto curso, de Grado y Licenciatura, respectivamente,) participaron en esta investigación. Para la evaluación de la autorregulación personal se evaluó el Cuestionario de Autorregulación, SRQ en su versión española, CARAbreviada y validada en muestras españolas. Para la evaluación de la confianza académica el inventario ABC, validado con muestras españolas. El compromiso-agotamiento se evaluó a través de una versión española validada del Marlach Bournout Inventory Survey-Utrech Work Engegement Scale for Students, con adecuados índices de fiabilidad y validez de constructo. La cumplimentación de los cuestionarios se realizó de manera anónima, en clase y en semanas diferentes. Se utilizo un diseño de investigación de carácter ex post-facto. Los análisis realizados en relación a los objetivos e hipótesis propuestos fueron de asociación (correlaciones bivariadas de Pearson).Resultados. Apareció una relación general de asociación, positiva y significativa, entre la autorregulación personal y la confianza académica (variables presagio) con respecto a al compromiso emocional, engagement (como variable producto), así como negativa con el agotamiento emocional (bournout). También, aparecieron numerosas relaciones significativas específicas.Discusión. Los resultados confirman dos aspectos. De una parte, la relevancia de los modelos 3P y DIDEPRO, como heurísticos consistentes para el análisis del proceso de enseñanza-aprendizaje universitario. De otra, la importancia de las emocionales positivas (engagement) vs. negativas (bournout), asociadas a los constructos autorregulación personal y a la confianza académica.Palabras Clave: Autorregulación personal, confianza académica, engagement, bournout, universidad.

Designing MRP Model in the Condition of Capacity Constraints and Variability of Delivery for Critical Items in ABC Inventory Model “Case Study in National Company of South’s Oil-rich”

In productive enterprises, timely preparation and procurement of goods is very important due to that related costs to the production and working capitals of organization is severely affected. In available scientific methods, including MRP, regardless of resource constraints and other factors, the amount of lead time of goods have always considered to be fixed. In this paper, then a model will present that lead time of goods is considered as dynamic by using statistical and also effectiveness models from internal and external environment variables of organization and optimized the cost of production in order to reduce the latency in timely receiving and balancing the warehousing time. At the end, researcher with the implementation of issue in a simulated environment and compare it with the real environment, shows the advantage of proposed model compared to other models by numbers and figures.

Avaliação da Aplicabilidade de Ferramentas de Gestão em uma Unidade Básica de Saúde

This job aims to contribute to the development of the National Immunization Programme, a Public Health Programme of importance for people, acting directly in vaccine-preventable diseases and reducing the impacts on public health. The methods used were the ABC curve, accuracy and inventory as administrative tools. The results show that protocols should be established and some modified in order to increase accuracy. Our conclusion is that in public health facilities good management is not always carried out, due to the need of human resources and programmes that meet the needs of each sector; nevertheless, when using some control tools applied in management, results can be visible.

A Common Weight Linear Optimization Approach for Multicriteria ABC Inventory Classification

Organizations typically employ the ABC inventory classification technique to have an efficient control on a huge amount of inventory items. The ABC inventory classification problem is classification of a large amount of items into three groups: A, very important; B, moderately important; and C, relatively unimportant. The traditional ABC classification only accounts for one criterion, namely, the annual dollar usage of the items. But, there are other important criteria in real world which strongly affect the ABC classification. This paper proposes a novel methodology based on a common weight linear optimization model to solve the multiple criteria inventory classification problem. The proposed methodology enables the classification of inventory items via a set of common weights which is very essential in a fair classification. It has a remarkable computational saving when compared with the existing approaches and at the same time it needs no subjective information. Furthermore, it is easy enough to apply for managers. The proposed model is applied on an illustrative example and a case study taken from the literature. Both numerical results and qualitative comparisons with the existing methods reveal several merits of the proposed approach for ABC analysis.

ABC Inventory Management Support System With a Clinical Laboratory Application

Many manufacturing and service organizations invest a large amount of capital in inventory. For this reason, it is important for inventory managers to reduce the costs associated with inventory. Firms that carry a variety of items require a classification system for the effective management of inventory. The ABC support system is a well-established inventory planning and control method that is used to manage different classes of inventory and reduce inventory costs concurrently. This paper presents a decision support system for ABC inventory management that can be used by managers to determine the efficiency of their inventory policies and to evaluate inventory decisions. The mathematical formulas to support inventory decisions are discussed. Since managers must manage in term of dollars, the quantitative tools are explained in terms suitable for management.

Testing Policy as Part of Kindergarten Entrance Procedures

At issue in this study was educational policy supporting the testing of kindergarten students. The ABC Inventory and the Developing Skills Checklist (DSC) are brought into question as appropriate instruments for identifying or labeling kindergartners for special instructional assistance. Data were collected on 92 subjects that included participants in a special instructional assistance program and a comparison group. The findings indicated that using the ABC and DSC for identifying students for special instructional assistance is inappropriate. Therefore administrative policy allowing the labeling of young children as a result of testing should be challenged.

Operations Research: Applications and Algorithms

Operations Research: Applications and Algorithms

Operations Research: Applications and Algorithms

Operations Research: Applications and Algorithms

The influence of an affective curriculum on the cognitive performance of four and five year olds

Forty-eight four and five year old children enrolled in the Honey Tree Child Developmental Center, Spartanburg, South Carolina, were divided into two groups of 24Ss each based upon pre-treatment ABC Inventory test scores using a matched pairs procedure. ExperimentalSs were given a special program of affective training experiences known as the Magic Circle Preschool/Kindergarten curriculum. The structured affective training procedure took place for three months duration, 20 minutes each day. The control subjects also had a 20 minute daily break from their usual routine but the break was spent in doing informal, unstructured activities. Except for the special 20 minute daily period the children were given no differential treatment and did not function as separate groups. A post-test of the ABC inventory was administered. Statistical analyses revealed that both groups significantly improved over time, but also that the experimental group was clearly superior to the control group in achievement.

Race differences on the developmental test of Visual Motor Integration, the Slosson Intelligence Test, and the ABC Inventory

Race differences on the developmental test of Visual Motor Integration, the Slosson Intelligence Test, and the ABC Inventory

Two readiness measures as predictors of first and third-grade reading achievement

Multiple-regression procedures were used to assess the effectiveness of the ABC Inventory and the Metropolitan Readiness Test (MRT) in predicting first and third-grade reading achievement. Sex and chronological age were included in the first-grade analysis (N = 62) and the first-grade PMA intelligence test score was added to the equation in predicting third-grade reading (N = 65). MRT performance accounted for 11% of the variance in first-grade SRA reading scores (R = .34). In predicting third-grade reading, the MRT accounted for 26% of the variance and the PMA IQ scores accounted for an additional 6% (final multiple R = .57). No other predictor made a significant contribution to explaining variance in first or third-grade reading achievement.

Relationships between the ABC inventory and the metropolitan readiness test

Relationships between the ABC inventory and the metropolitan readiness test