Inventory Volume Research Articles

ЕВОЛЮЦІЯ ТЕОРІЙ ЦИКЛІЧНОСТІ ЕКОНОМІЧНОГО РОЗВИТКУ

The aim of the article is to study the historical aspects of the development of theories of cyclicity in economics. The article analyzes the historical aspects of the emergence and development of theories of cyclicity. The concept of the cyclical nature of time was formed in ancient Egypt. From there, the idea of cyclicity penetrated into ancient Greece and were developed in the teachings of the Pythagoreans and Stoics. The Pythagoreans associated cyclicity, i.e. the existence of time segments of equal length, with world harmony. The cyclicity of time is also reflected in the calendars of the Maya, Incas and Aztecs. However, the most developed concepts of the cyclical nature of time, in our opinion, were formed in India. Particular attention is paid to the study of concepts about the cyclical nature of time, which were formed in India on the example of Hinduism and Jainism. The essence, nature, mechanisms of cyclic transformations in economic dynamics are considered. At the present stage of development of economic thought, the first attempt to explain the cyclical nature of capitalist production was made by the English economist William Stanley Jevons with the theory of the economic cycle based on the periodicity of solar activity. The explanation of cyclicality, as a periodic need to renew the fixed capital of enterprises, began to prevail in scientific circles since the second half of the nineteenth century. Systematization and classification of the then theories of cyclical economic development contributed to the study of Ukrainian scientist M.I. Tugan-Baranovsky. The division of existing theories of the cycle into three groups is analyzed: theories of social production, theories of the sphere of social exchange and the theories of social distribution. The classification of economic cycles according to the duration of waves according to J. Schumpeter is generalized. It is proved that, in contrast to Kitchin's cycles, within the Juglar cycles there are fluctuations not only in the level of utilization of existing production capacity (and, accordingly, in the volume of inventories), but also fluctuations in fixed capital investment. Subsequently, the existence of short-term cycles was explained by fluctuations in world gold reserves, but in our time such an explanation can not be considered satisfactory. In modern economic theory, the mechanism of generating these cycles is usually associated with time delays (time lags) in the movement of information that affect decision-making by commercial enterprises.

ПРИМЕНЕНИЕ МОДЕЛИ PDCA И МОДИФИКАЦИИ АВС-XYZ-АНАЛИЗА В УПРАВЛЕНИИ ПРОИЗВОДСТВЕННЫМИ ЗАПАСАМИ

The article discusses the possibility of using a process approach in managing the company's inventory based on the Shewhart-Deming cycle (PDCA model), as well as identifies modern problems of using ABC-analysis and XYZ-analysis models in practice, and proposes the introduction of a modified ABC-XYZ analysis model. The results of the study showed that the development of an inventory management policy in a company based on the PDCA model with the use of the proposed modification of the ABC-XYZ analysis will make it possible to systematize the processes of warehousing and supply of stocks using the «Just-in-Time» method, minimize warehouse costs by reducing the volume of stock, reduce the volume of illiquid inventory, improve customer satisfaction, accelerate inventory turnover.

The static model of inventory management without a deficit with Neutrosophic logic

In this paper, we present an expansion of one of the well-known classical inventory management models, which is the static model of inventory management without a deficit and for a single substance, based on the neutrosophic logic, where we provide through this study a basis for dealing with all data, whether specific or undefined in the field of inventory management, as it provides safe environment to manage inventory without running into deficit , and give us an approximate ideal volume of inventory. Since the ideal size is affected by the rate of demand for inventory, we present in this paper a study of the rate of demand for inventory when it is not precisely defined, and we find that the indeterminate values ​​of the demand rate cannot be ignored, because they actually affect determining the ideal size of inventory and calculating its costs, thus affecting on the efficiency of the facility and achieve great profits for it.

Does Inventory Management Improve Profitability? Empirical Evidence from Polish Manufacturing Industries

Purpose: The main purpose of this article is to investigate the relationship between inventory management and industrial processing companies' financial performance. In analyzing these relationships, the study took account of total inventories (INV) and their components, i.e., materials and raw materials (RMI), intermediates and work-in-progress (WIP), finished products (FGI), and commodities (GI). Approach/Methodology/Design: Descriptive statistics and dynamic panel regression were used in analyzing the causative links between the efficiency of inventory management and profitability. The analysis was carried out on a 2013–2019 database for the Polish industrial processing sector, taking into account the size classes of enterprises. Findings: The article proves the existence of statistically significant relationships between the efficiency of total inventories and inventory components (except for finished products), on one side, and business profitability, on the other. The estimated panel regression parameters showed that the days in inventory ratios for intermediates and work-in-progress (WIPC) and raw and other materials (RMI) have the strongest correlation with profitability. Increasing the inventory days for these components had the strongest and negative impact on the return on total assets in the population surveyed and in enterprise size classes identified in this study. Practical implications: The study provides evidence for financial benefits derived from inventory performance. Also, it indicates which inventory components have the greatest impact on financial results. Originality/value: The article extends knowledge on causative links between the management of inventories and inventory components and enterprises' financial performance. It also analyzes the results of inventory management by industrial processing sub-sector and by enterprise size. The results confirm that it is advisable to adjust the volume and mix of inventories because rational inventory management practices are also a factor that empowers industrial company owners to add more value.

Integrated Highway Safety Information System (HSIS) datasets by means of a Roadway Safety Data Integrator (RSDI) tool.

The datasets and tool presented in this article are related to the research article entitled “Improving crash predictability of the Highway Safety Manual through optimizing local calibration process” (Dadvar et al., 2020) [1], in which these datasets were used to investigate alternative local calibration methods for the Highway Safety Manual (HSM) [2] local application. The datasets are integrated Highway Safety Information System (HSIS) [3] state-wide rural two-lane, two-way roads (R2U) data from states of Illinois and Washington.The HSIS is a database that maintains motor vehicle crash data, roadway inventory, and traffic volume data for several US states. It is an excellent source of data to highway safety research and can be used to investigate many research questions. However, to prepare an analysis-ready roadway safety dataset based on the HSIS or any databases that store the relevant data in multiple different datasets, the researchers should integrate multiple datasets, merge or unmerge and remove certain inconsistent records, and finally clean the integrated dataset. The HSIS staff is usually accommodating and eager to help, but sometimes the nature of data needs is complicated and laborious.A tool named Roadway Safety Data Integrator (RSDI) was developed for combining, segmenting, and selecting homogeneous (unchanged during the study period for certain variables of interest) HSIS roadway segments and also crash assignment by desired crash attributes (e.g., crash severity or type). The RSDI tool can be helpful for integrating different safety-related datasets such as roadway inventory (including grade, curve, and other subsets), traffic volume, and motor vehicle crash data; also, it can do required segmentation and identify the homogeneous roadway segments over the desired years of study that are the basis for development and calibration of the HSM predictive models.The shared datasets contain homogeneous roadway segments, geometric details, and crash data for six years from Illinois (2005–10) and Washington (2010–15). The datasets and RSDI tool would be important sources generally for investigating highway safety research questions and in particular, for HSM-related analyses. The RSDI tool can be used for similar purposes and it is not limited to the HSIS data. It can be used for segmentation and finding homogeneous segments of any datasets that follow linear referencing.The datasets and RSDI tool are hosted in the Mendeley Data repository [4].

Large wood (LW) 3D accumulation mapping and assessment using structure from Motion photogrammetry in the laboratory

A Structure from Motion (SfM) photogrammetry-based methodology for precise mapping of large wood (LW) accumulations in fluvial systems is presented. The technique may be useful for routine inventory and rapid volume estimation of complex LW structures that tend to divert or obstruct flow in rivers. Our methodology is validated by means of laboratory experiments, ranging from elementary to complex arrangements of LW components and organic fine material (OFM). Seven experimental setups were used as the basis for (i) manual approximations of 2.5D and 3D geometric reference volumes, (ii) 2.5D volume models based on mesh geometry, (iii) a closed (‘watertight’) 3D mesh from an unorganized point cloud and (iv) estimates of porosity. A commercially available SfM photogrammetry software package, Pix4Dmapper, was used for point cloud and simplified mesh generation. In order to obtain more precise volumes, 3D surface models are required. Accordingly, we generated 3D watertight mesh models of the unorganized point cloud using the screened Poisson Surface Reconstruction (PSR) technique. The Pix4D volume tool (2.5D) resulted in an overestimation (2.9 to 52.7%) of the geometric volume (3D), due to the convex hull approximation of the geometry normal to the surface plane. PSR (3D) resulted in more precise volumes, showing deviations from the geometric volume (3D) in a range of −15.9 to +10.6%, as the algorithm could capture concavities and involuted surfaces on the accumulation. Assuming that the difference between 3D and 2.5D volume models represents many of the voids visible within or on the surface of the deposit, this volume can be used as an estimate of porosity. Our assessment suggests that image-based SfM methodology is well-suited for further investigations in LW research, due to its time and cost efficiency in comparison with other conventional surveying techniques. The methodology can be used to generate high quality point cloud and mesh models of log jam formations; these may be used by river managers and researchers to quantify accumulation volume and thus gain a better understanding of LW composition and the influence of wood geometry on hydraulic flow conditions.

Continuous Improvement Through Lean using VSM for Application in Machining Based Product Company

This paper is a consequence of a job in a business devoted to mechanical manufacturing (machining base product). During the entire manufacturing cycle, several wastes could be detected using a lean manufacturing approach by Value Stream Mapping (VSM). This paper proposes the techniques that are used to show the improvements to be achieved with each of the lean tools suggested. This work is primarily intended to be a guide for organisations that want to begin to implement lean production. The development of how lean management techniques are used continues dependent on the development of intelligent value today. Smart, creative techniques, critical information, talent, and big data need to be sustainable in other respects. I4.0 assumes a critical foundation of this latest vision for the organisation's future. As the results, the lean manufacturing approach by the VSM pointed out eight waste from the current production system, known as Kaizen burst that influence to company’ profit which is high access inventory volume in between process, high rework and reject volume, delayed supplier and deliver product on time to customer, wrong forecast data, changeover time require long time, low machine performance/ inefficiency machine, travelled time in between process and lack on 5S activities. However, only three main findings based on the production system discussed in this paper

Development of an Optimization Method and Software for Optimizing Global Supply Chains for Increased Efficiency, Competitiveness, and Sustainability

Presently, an increasing human population, customer consumption, and global market competition result in the reduction of natural resources and growing environmental damage. Therefore, the current practice in the use of resources is not sustainable. The production companies have to focus not only on cost-effective and profitable operation, but at the same time environmentally friendly and sustainable production in order to increase competitiveness. New innovative technologies are required, improving the efficiency of the processes and the optimization of global supply chains (GSC) in order to establish sustainability in environmental, social, and economic aspects. The aim of the study is the GSCs’ optimization, which means forming the optimal combination of the chain members (suppliers, final assemblers, service providers) to achieve cost-effective, time-effective, and sustainable operation. This study introduces an elaborated single- and multi-objective optimization method, including the objective functions (cost, lead time) and design constraints (production and service capacities; volume of inventories; flexibility and sustainability of the chain members). Based on the elaborated method, software has been developed for the optimization of sustainable GSCs. The significance and novelty of the developed method and software is that the chain members have been required to fulfill the sustainability design constraint built into the software. A real case study is introduced, for the optimal design of a sustainable GSC, to confirm that our developed optimization method and software can be applied effectively in practice for the optimization of both profitable and sustainable GSCs.

Determination of parameters of the stochastic inventory management system in the conditions of economically-based shortage

A methodical approach to determining the optimal parameters of a stochastic inventory management system in the context of an economically justified deficit that allows responding quickly to fluctuations in demand and the dynamics of changes in inventory status is proposed and tested on real data. This approach relates, in particular, the shortage costs and the corresponding service level with the values of safety stock, order quantity and the threshold stock level. The technique is applicable to the normal distribution of inventory consumption and delivery time.Determining the optimal parameters of the inventory management system in the conditions of unstable consumption and replenishment allows you to prevent an overestimation of the volume of inventories in the warehouses of industrial and commercial enterprises. At the same time, the need for working capital (the value of investments in stocks) and the total value added in the supply chains of goods decline, the risks of illiquid stocks decrease.As a result of the study, a causal relationship was established between the level of customer service, the shortage level, order quantity and safety stock volume. It is proved that the procedure for determining the parameters of the stochastic inventory management system should be preceded by determining the economically feasible shortage level, which will determine the optimal level of customer service and the optimal size of safety stock by the criterion of total costs.The proposed approach allows processing the accumulated statistical data on the dynamics of changes in stock status in real time using statistical methods and finding a compromise between the size of safety stock, the shortage level and the level of customer service by the criterion of minimum total costs

A new inventory tracking method for Mark-V electrorefiner

This paper discusses the current practice of assessing the Mark-V electrorefiner inventory and a proposed new way of tracking this inventory. The current practice involves the estimation/calculation of the salt phase mass in the transferred material mass and the calculation of the holdup. The proposed method involves the mass measurement of the transferred materials and the total inventory volume measurement along with the consideration of metallic uranium phase in the inventory. Without estimating the involved salt inventory in the incoming and outgoing material streams, the proposed method yields the salt inventory agreeing with the current mass tracking practice. The estimated holdup in the current mass tracking practice is entirely explained with the introduced metallic uranium phase in the proposed model. The current practice of closing out the special nuclear material inventory is revisited with the insight gained from the proposed model. Suggestions are given to achieve the bounded uncertainty of the inventory estimates with the emerging in situ measurement technique on the molten salt density.

OPEC behavior: The volume of oil reserves announced

OPEC procedures dictate that all member states should notify the volume of their crude oil reserves to the organization secretariat so that OPEC would reflect the figures in its official published materials. Many OPEC states say that it is not feasible to investigate the amount of their oil reserves through independent observers, believing this is a confidential issue. In fact, a contradiction appears to exist between the data for each oil field and the figures publicly announced for the fields on aggregate. This comes under the pretext of existing doubts about the volume of declared reserves.Contrary to oil companies whose inventory volumes are examined and audited by internationally accredited companies, no mechanism exists for verifying OPEC members' reserves. A wide range of studies have been conducted to investigate the behavior of OPEC and its effects on global oil markets; however, the present article seeks to demonstrate the effect of increased volume of OPEC oil reserves on their production and supply behavior and give remarks on the validity of such declarations. In this paper, Markov Switching Model is used to study the effect of the announcement of the increased OPEC oil reserves on the level of production of 11 OPEC member states. According to the study, only Kuwait has had a significant positive coefficient for the growth of its reserves.

Simulation and Analysis of the Complex Behavior of Supply Chain Inventory System Based on Third‐Party Logistics Management Inventory Model with No Accumulating of Unsatisfied Demand

Under the third‐party logistics management inventory model, the system dynamics method is used to establish a nonlinear supply chain system model with supply capacity limitation and nonpermissible return, which is based on unsatisfied demand nonaccumulation. The theory of singular value and the Jury Test are used to derive the stable interval of the model which is simplified. The Largest Lyapunov Exponent (LLE) of the system is calculated by the Wolf reconstruction method and used to analyze the influence of different parameters of system’s stability. Then, the most reasonable and unreasonable combination of decision parameters under different demand environment is found out. Next, this paper compared and analyzed the change of inventory or transportation volume of system members under the combination of rational and irrational decision parameters. All of these provided guidance for decision making, which shows an important practical significance.

Elaboração de procedimentos para uma empresa de pequeno porte com base na iso 22716:2007

The present study proposes the evaluation of wood stocks in a company that produces truck bodies. The theme arose from the knowledge acquired during the course of production engineering together with the visible potential of applying tools that involve planning and control of materials. The use of inventory management tools, process mapping and waste identification, if planned in detail, enable an adequate organization of the industrial park, reduction of inventory investments, better utilization of the physical space and application of capital in activities that really Add value to the product. At the end of this paper, the results obtained with stock management will be presented, which include a reduction of the wood inventory volume from 394,7m³ to 115m³, representing a savings of 71%.

Controle e gerenciamento na gestão de estoque nas empresas

Considerando a grande concorrência entre as empresas diante do cenário globalizado, as organizações precisam estar atentas a todos os ativos da empresa e o estoque simboliza um grande valor investido e que a princípio não gera lucro, mas a falha no controle e gerenciamento da gestão de estoque pode gerar prejuízo e deixar de ser uma vantagem competitiva. Sendo assim, o artigo tem como objetivo geral analisar como a gestão de estoques pode ajudar na lucratividade organizacional das empresas. Os objetivos específicos pretendem identificar os níveis de estoque de segurança de acordo com a demanda e o tempo de ressuprimento; abordar periodicidade de inventários, sem impactar na confiabilidade do estoque contábil; compreender o volume de estoque em busca da otimização e entender os métodos utilizados nos atendimentos das solicitações dos clientes, em busca de um retorno rápido e com eficiência nos pedidos e prestação dos serviços. Para atingir estes objetivos utilizou-se o método de pesquisa qualitativo, de cunho descritivo-exploratório. E abordando os conceitos de estoque, quais os tipos e os custos de estoque, administração de estoque com os objetivos e funções, os princípios e os sistemas de controle de estoque e a classificação dos materiais de acordo com a curva ABC.

Traffic Management at Madhya Kailash Intersection along Rajiv Gandhi Road in Chennai

This paper focuses on the improvement of the traffic flow at the three-major congested intersection located near Madhya Kailash, Tidel Park and SRP Tools along Rajiv Gandhi road in Chennai City. Road inventory survey and volume count survey have been conducted at the three intersections. Volume accumulation curves are developed to obtain the peak volume and peak time. From the analysis it is found that the peak volume is about 2321 passenger car equivalence (PCE), 2544 PCE and 2396 PCE at the three intersections respectively during peak hour. The volume to capacity ratio is about 1.29, 1.41 and 1.33 obtained which makes high level of congestion and poor level of service in turn shows an immediate need of traffic management measure. Transport system management concepts are suggested to manage the traffic flow which will improve the flow at the study intersections.

Addressing Wildfire Risk in Forest Management Planning with Multiple Criteria Decision Making Methods

Wildfires impact the outcomes of forest management plans. Addressing that impact is thus critical for effective forest ecosystem management planning. This paper presents research on the use of multiple criteria decision making (MCDM) methods that integrate wildfire risk in planning contexts characterized by multiple objectives. Specifically, an a posteriori preference modeling approach is developed that adds wildfire criteria to a set of objectives representing ecosystem services supply values. Wildfire risk criteria are derived from stand-level wildfire occurrence and damage models as well as from the characteristics of neighboring stands that may impact wildfire probability and spread. A forested landscape classified into 1976 stands is used for testing purposes. The management planning criteria include the carbon stock, harvest volumes for three forest species, the volume of the ending inventory, and resistance to wildfire risk indicators. Results show the potential of multiple criteria decision making methods to provide information about trade-offs between wildfire risk and the supply of provisioning (timber) as well as regulatory (carbon) ecosystem services. This information may contribute to the effectiveness of forest ecosystem management planning.

Neural Basis of Apathy in Patients with Amnestic Mild Cognitive Impairment.

Although apathy is associated with damage to the frontal and temporal lobes in Alzheimer's disease (AD), the crucial regions for apathy in patients with amnestic mild cognitive impairment (aMCI) are unknown. To identify brain regions associated with apathy in aMCI patients. The subjects of this study were 98 aMCI patients who were entered in our dementia registry between March 1, 2009 and April 30, 2015 and who satisfied our criteria for aMCI. The association between the apathy score of the Neuropsychiatric Inventory and regional gray matter volume was analyzed using voxel-based morphometry. The association between apathy score and regional cerebral blood flow (rCBF) measured with single photon emission computed tomography (SPECT) was analyzed using Statistical Parametric Mapping. The aMCI patients were classified into aMCI with and without "SPECT images suggestive of AD" (aMCI-AD+ and aMCI-AD-, respectively) based on the Z-score summation analysis method. In aMCI-AD+ (n = 31), apathy was significantly and negatively correlated with gray matter volume in the right caudate nucleus and with rCBF in five regions (left posterior-medial frontal lobe, right superior frontal lobe, bilateral culmen-fusiform gyri, and left occipital lobe). In aMCI-AD-(n = 67), apathy was significantly and negatively correlated with gray matter volumes in five regions but it was not correlated with rCBF in any regions. In patients with ahigh probability of being in the aMCI stage of AD, apathy was associated with atrophy of the right caudate nucleus and hypoperfusion in the frontal, temporal and occipital lobes.

Supply chain configurations: a model to evaluate performance in customised productions

This paper describes an approach used to evaluate the performance of different supply chain configurations in customised contexts. Based on historical data collected from the supply chain of a shoe producer, different configurations are evaluated based on a discrete-event simulation by highlighting the performance of the supply chain (in terms of supply chain order lead-time and inventory volume) when the production switched from standard production (characterised by batches of large quantities of the same product) to customised production (characterised by a small of series batches with high product variability). The simulation approach relies on experimentation through executable configurations, which enables the creation of different scenarios, and is then applied to the case of an actual firm in the footwear industry. The managerial implications of these findings are discussed.

A Design Modification Approach to Utilize the Benefits of Metal Additive Manufacturing Adoption

Existing Metal Additive Manufacturing processes are fast approaching a matured stage in which a wide range of possibilities are available for the incorporation of the rapid fabrication technology to current industrial practices. In terms of design conventions, the limitless geometrical freedom allows complex structures including cellular internal grids and lattices to be formed without additional tooling. Repair parts and leveraging components can also be produced on demand when required especially for military assets where large volume of inventory is constantly maintained to ensure operational readiness. In this exemplary work, a feasibility study on using stainless steel material with integrated cellular design to manufacture a guide bracket found on a military vehicle via Selective Laser Melting process was conducted. The results showed appreciably better mechanical performance in using a stainless steel honeycomb as compared to the aluminum alloy used for the original component together with a faster production route through SLM.

Humidity effect on the calibration of discharge coefficients of critical flow Venturi nozzles in a pVTt facility

The available research on the humidity effect when calibrating the discharge coefficients of critical flow Venturi nozzles has mostly treated the humid air as a mixture of vapor and dry air. In this paper, atmospheric air with normal humidity was used to calibrate the discharge coefficients of critical flow Venturi nozzles in a pVTt facility. The calibration results were found to depend on the initial pressure in the collection tank, which reduced the discharge coefficient by 1.17%. The results suggest that vapor condensation in the diffuser section of the CFVN and the inventory volume or collection tank and adsorption of water molecules on the surface of the collection tank are additional humidity effects in a pVTt facility. An empirical model was developed for the humidity effect with the critical pressure for each facility determined from the experimental results. With the humidity correction, the NIM and PTB results compare very well.