Proper Inventory Management Research Articles

The Effect of Inventory Management Practices on Service Delivery: A Study of Sawula General Hospital, Southern Ethiopia

The purpose of this study was to assess the effect of inventory management practices on service delivery of Sawula General Hospital. The study employed both descriptive and explanatory research designs to conduct this research. It contained a qualitative and quantitative component that enables the researcher to assess the study easily. The total population of this study was 459 and the researcher takes 293 as sample size from staff’s members, Health department experts and patients. The sampling technique of the study was stratified sampling technique. Primary data were mainly collected using self- administered questionnaires consisting of closed ended questions with 5-point Likert Scale. Data were also collected through questionnaires and interview. The collected data were quantitatively analyzed using SPSS to produce descriptive and inferential statistics and regression analysis. The key findings from the study revealed that there is gap on Sawula General Hospital was relation to applying poor inventory management practice which caused dissatisfaction of the patient/client with the service delivery. Moreover, the finding shows that the inventory management practice was also challenged by shortage of budget and lack of training on inventory management, bureaucratic process and lack of computerized system to manage the inventory. Based on the major findings, the study recommends that applying the scientific concepts of inventory management practices and implementing awareness creation mechanisms to develop patients’ perception of service delivery to increase proper inventory management which realize improved customer service and inventory management by responsible bodies. Moreover, it was also recommended that, the hospital should create ways in solving the critical challenges by allocating enough budgets, avoiding bureaucratic process in procurement, filling knowledge gaps through different trainings.

Prevalence of ABO, Rh, and Kell Antigens Among Blood Donors in Al-Qurayyat Region.

The ABO, Rh, and Kell blood groups are the most immunogenic and clinically important blood antigens. These antigens can trigger strong immune responses after blood transfusions, leading to alloimmunization and post-hemolytic transfusion reactions. The aim of this study was to determine prevalence of ABO, Rh, and Kell blood group antigens at the Al-Qurayyat Regional Laboratory and Blood Bank Center, Al-Qurayyat region, Saudi Arabia. This study was a prospective observational cross-sectional study conducted at the Al-Qurayyat Regional Laboratory and Blood Bank Center from November 2022 to September 2023. The selection of voluntary and replacement donors was based on recommendations by the Saudi Central Board for Accreditation of Healthcare Institutions (CBAHI). A total of 779 Saudi donors aged between 18 and 60 years participated in the study. In this study, O blood group was the most prevalent (50.1%), followed by B (32.0%), A (14.4%), and AB (3.6%). RhD positivity was relatively high (93.3%); a characteristic of global trends. Among RhD-positive individ-uals, R1r and R1R1 were the most prevalent Rh phenotypes, consistent with trends observed in Caucasian and Asian populations; however, the most frequent Rh phenotype in RhD-negative individuals was rr. Presence of the Kell antigen was observed in 9.5% of the participants, and interestingly all individuals who tested positive for the Kell antigen were also RhD positive. Conversely, no RhD-negative individuals exhibited the Kell antigen. Findings from this study highlight the importance of implementing proper inventory management to ensure safe transfusion of blood products. Additionally, this study established a crucial baseline for clinically important blood antigens that also enhances understanding of blood groups and regional variations that could better inform healthcare management systems and public health policies in Saudi Arabia.

Sosialisasi Pengelolaan Manajemen Persediaan pada UMKM

Abdimas aims to increase the active involvement of participants in dealing with common problems that often occur in Micro, Small and Medium Enterprises (MSMEs), with a focus on cases in the Garudayaksa Nusantara Cooperative, Jakarta. This activity carries a delivery method through lectures, questions and answers, and in-depth discussions on supply issues. Participants in this activity received direct assistance from the manager and management of Koperasi Garudayaksa Nusantara, Jakarta, who shared their experiences and insights in managing inventory. The main objective of this activity was to provide a comprehensive education on the importance of implementing a proper inventory management system in a company. Emphasis was placed on the dangers that may occur if inventory is not managed properly. Excessively large inventories can result in high storage costs and a higher risk of damaged goods. Therefore, through lectures, Q&A, and case discussions, participants were directed to understand the best practices in controlling inventory so that companies can be more efficient and effective in resource management. This activity is a concrete effort to empower MSMEs in dealing with the challenges faced in their inventory management. In addition, through direct interaction with the management of Koperasi Garudayaksa Nusantara, the participants were also able to understand real examples of best practices in managing inventory. As a result, it is expected that MSMEs will be better prepared and competent in optimising their inventory for sustainable growth.

Production, distribution, and capacity planning for an integrated buyer-vendor system incorporating different production and shipping scenarios

Supply chain management generally seeks to reduce costs, improve customer satisfaction, and gain a competitive advantage for all members of the chain. If decisions are made independently, there can be no guarantee that network members will reach the optimal decision as a whole. In integrated buyer-vendor optimization models, decisions are made centrally, and different parts are integrated and coordinated. This paper examines two different scenarios, namely Continuous Production-Instantaneous Shipping and Continuous Production-Gradual Shipping. In each scenario, an integrated inventory model with multiple warehouse capacity levels is proposed under uncertain conditions. We solved both mathematical models using proposed exact algorithm. Based on the calculated results, capacity planning leads to proper inventory management, efficient use of space, and making the most appropriate decision to have the least chain cost. Furthermore, the outputs of the models show that limited access to transport fleet leads to an increase in inventories and the subsequent reduction of stock-out effects requires effective changes in plans and management measures.

Simultaneous planning of purchase orders, production, and inventory management under demand uncertainty

This paper focuses on the issues of the purchase of bill of materials, production planning, and inventory management in materials and products warehouses under demand uncertainty, simultaneously. The purpose of this study is to determine the optimal volume of purchasing the raw materials from different vendors, transportation methods, and production planning over the time horizon so that with proper inventory management in the warehouses of materials and manufactured products, the total cost is minimized. This issue is defined as a multi-region, multi-supplier, multi-component, multi-product, and multi-period problem. There is a time interval between ordering and delivering the bill of materials, which depends on the region where the supplier is located. Customer demands are not predetermined, and robust optimization is employed to handle this uncertainty. Three numerical examples, based on increasing or decreasing the nominal customer demands, are presented to evaluate the robustness of the solutions and to examine the effect of conservatism level on the performance of the proposed model. Finally, the price and importance of proposed robust planning are evaluated based on random data.

Implementation of inventory policy: a supporting decision-making tool for a food distribution company

In a competitive environment that is the market for the distribution of food and cleaning products to private homes and companies, operating at a low cost is a matter of survival. Proper inventory management is the key point for operational efficiency. Currently, the studied company operates with two warehouses, one of its own and the other rented. Faced with the impossibility of continuing to rent this warehouse, the moment of decision-making has arrived: to buy the rented warehouse or not to buy it? The objective of this work is to carry out an investigation of the ideal inventory and purchasing policy of the company, to establish the best way to manage its operations, and thus define the adequate levels of inventories, which will provide the identification of the necessary storage capacity, in order to guarantee a balanced operation that offers a level of service to the end customer. This necessary storage capacity will define the need for space, and therefore, it will help the company to make the best decision, as well as supporting a new level of customer service and reducing inventory costs.

A Survey of Computer Vision Techniques for Forest Characterization and Carbon Monitoring Tasks

Estimation of terrestrial carbon balance is one of the key tasks in the understanding and prognosis of climate change impacts and the development of tools and policies according to carbon mitigation and adaptation strategies. Forest ecosystems are one of the major pools of carbon stocks affected by controversial processes influencing carbon stability. Therefore, monitoring forest ecosystems is a key to proper inventory management of resources and planning their sustainable use. In this survey, we discuss which computer vision techniques are applicable to the most important aspects of forest management actions, considering the wide availability of remote sensing (RS) data of different resolutions based both on satellite and unmanned aerial vehicle (UAV) observations. Our analysis applies to the most occurring tasks such as estimation of forest areas, tree species classification, and estimation of forest resources. Through the survey, we also provide a necessary technical background with a description of suitable data sources, algorithms’ descriptions, and corresponding metrics for their evaluation. The implementation of the provided techniques into routine workflows is a significant step toward the development of systems of continuous actualization of forest data, including real-time monitoring. It is crucial for diverse purposes on both local and global scales. Among the most important are the implementation of improved forest management strategies and actions, carbon offset projects, and enhancement of the prediction accuracy of system changes under different land-use and climate scenarios.

Lumpy and intermittent retail demand forecasts with score-driven models

Irregular demand in retail is characterized by stock keeping units (SKUs) that present high intermittency, and simultaneously, high erraticness (classified as lumpy demand) or low erraticness (classified as intermittent demand), following the classification of Syntetos et al. (2005). These SKUs are basically defined by periods of zero sales interleaved with positive sales producing series with some degree of variability. Many SKUs at the store/daily level can be characterized as presenting such a type of demand. Therefore methods for adequately forecasting irregular time series are necessary for proper inventory management. This article derives models for intermittent and lumpy time series using the framework of score-driven models as developed by Creal et al. (2013) and Harvey (2013). More precisely we derive Poisson, negative binomial, hurdle Poisson, and hurdle negative binomial models and apply them to real data obtained from a large Brazilian retail chain, comparing the performance of the proposed models to adequate competing methods from the ‘slow’/intermittent demand forecasting literature. Forecasting accuracy is evaluated based on point forecasts and the entire predictive distribution. Our results show that the score-driven models perform well compared to intermittent traditional forecasting methods, providing competitive forecasting models for irregular demand in retailing.

SARS-CoV-2 pandemic and its impact on blood transfusion services: challenges, experience and lessons learnt at king Abdullah medical city, Makkah, Saudi Arabia

SARS-COVID (COVID-19) epidemic is a great challenge for blood transfusion practice. Hospitals were overwhelmed with increasing number of admitted patients with severe COVID-19 infections as well as limitation of variable medical and pharmaceutical resources partly due to lockdown. This retrospective study analyzes the transfusion medicine practice and approach of health institution toward the pandemics before and during the pandemic era over the four years period, 2018 through 2021. Data was collected from blood bank records and laboratory information system for the whole blood donors, apheresis platelets donors, numbers and types of prepared blood components, details of blood components storage and expiry, and blood components for the study period. The data analyzed showed that the total number of whole blood donors dropped during 2020. However, there is a steady increase in number of voluntary non-numerated whole blood donors. The production of packed Red Blood Cells units, Fresh Frozen Plasma units, and Cryoprecipitate units were actually more or less similar or slightly higher in 2020 compared to 2019 and 2018. However, the production of Platelets components showed a drop during 2020. The transfusion for patients at the institution has slightly increased for 2020 compared to 2019. Therefore, the need to procure blood components from other facilities was increased in 2020 compared to pre COVID-19 pandemics. The percentage of expired and wasted blood components units steadily decreasing over the past few years. The data of expired and or wasted collected blood components were compared through the study period and it illustrates that the percentage of expired and wasted units was steadily dropped over the years. This to mention that automated blood transfusion system was implemented late 2019 and put in full effect in 2020. The presence of validated and secured electronic system supports blood bank to eliminate the number of expired and wasted units due to proper inventory management. Along with all the hard work to maintain adequate and safe blood supply to increasing requests of blood transfusion, blood bank at KAMC participated in the national multidisciplinary study of Convalescent Plasma use for critically ill COVID-19 patients.

Inventory Management with EOQ Method at “Nitra Jaya” Fashion-Making Company in Badung

Inventory management is an activity carried out by a company that is needed in making decisions, so that material needs for the needs of company activities both production and sales can be fulfilled optimally, with the smallest possible risk. Over-inventory is a waste because it causes storage and maintenance loads that are too high during storage in the warehouse. This research was conducted at Nitra Jaya which aims to determine the proper inventory management of the management system for Nitra Jaya using the EOQ (Economic Order Quantity) method. This study uses quantitative data and qualitative data obtained by conducting interviews with the company and observing the object under study. The results showed that Nitra Jaya inventory management was still not efficient. By using the conventionally applied method in 2019, the total inventory cost incurred was IDR 27,150,000. If Nitra Jaya uses the EOQ (Economic Order Quantity) method in 2019, the total inventory cost incurred is IDR 14.247.886, and the company can save IDR 12.902.114 (47.5%) The implication of this research is that it is expected to be able to provide advice to the owner of the Nitra Jaya to review the total cost of inventory more efficiently through the optimal quantity and frequency of purchasing raw materials, the company should apply the EOQ method in carrying out inventory management.

The Effects of Proper Inventory Management on the Profitability of SMEs

A business must have or be able to generate enough cash and cash equivalent to meet its short-term liabilities if it is to continue and grow in business. Therefore, working capital management which helps an entity to, efficiently and effectively control current assets and liabilities is a key factor in the company’s long-term success; without working capital, the non- current assets will not function. The greater the extent to which current assets exceed current liability, the more solvent or liquid a company is likely to be. This paper observes the relationship between working capital management practices of small and medium enterprises (SMEs) and the performance and profitability of these businesses in the Kumasi Metropolis , to evaluate inflows and outflows of inventory to determine the rate at which certain goods are purchased in relation to others. This practice will also help ascertain seasons and times during which certain products experience higher demand and vice versa. This will reduce their over and/or under investment in inventories. The implication of the findings is that the government of Ghana should pursue policies aimed at encouraging training and improving the managerial skills of SME owner/managers as well as creating the enabling environment for the development of improved modern technologies to transform the business processes of these vital industries.

Inventory Model with Stochastic Demand Using Single-Period Inventory Model and Gaussian Process

Proper inventory management is vital to achieving sustainability within a supply chain and is also related to a company’s cash flow through the funds represented by the inventory. Therefore, it is necessary to balance excess inventory and insufficient inventory. However, this can be difficult to achieve in the presence of stochastic demand because decisions must be made in an uncertain environment and the inventory policy bears risks associated with each decision. This study reports an extension of the single-period model for the inventory problem under uncertain demand. We proposed incorporating a Gaussian stochastic process into the model using the associated posterior distribution of the Gaussian process as a distribution for the demand. This enables the modeling of data from historical inventory demand using the Gaussian process theory, which adapts well to small datasets and provides measurements of the risks associated with the predictions made. Thus, unlike other works that assume that demand follows an autoregressive or Brownian motion model, among others, our approach enables adaptability to different complex forms of demand trends over time. We offer several numerical examples that explore aspects of the proposed approach and compare our results with those achieved using other state-of-the-art methods.

An Assessment of Inventory Management Practices at the Hospitality Management Department of Takoradi Technical University

Inventory management encompasses a wide variety of tasks. These tasks differ depending on the organization. The study's main goal is to evaluate inventory management activities at Takoradi Technical University's hospitality management department. Non–experimental analysis was used to design the sample. The study's target population was hospitality students with sample sizes of 60 students. Purposive sampling was used to collect data for the analysis. The analysis relied on primary data. To collect data for the analysis, a structured questionnaire was created with both opened-ended and closed-ended questions. Statistical Package for Social Sciences (SPSS) and Microsoft Excel were used to analyze and process the information. Frequency distribution tables, pie charts, and bar charts were used to display the findings. According to the results, the department did a commendable job of resource management in order to provide supplies for the students' practical training. The department's inventory management process was purely commercial and the proper inventory management process was implemented. Regardless, it was recommended that the hospitality department strive to keep inventory under control. Evidence for inventory management and record documentation should also be handy at all times.

The Research on Distribution of Lead-Time Demand on the Basis of Multivariate Higher-Order Markov Chain

Inventory management is an important part of supply chain management: inventory shortages could result in reduced delivery speeds and response speeds while excess inventory could lead to increased inventory and operating costs. Therefore, finding ways to efficiently control inventory has become an issue companies are most concerned about. Choosing a proper inventory management method based on the lead-time demand distribution fitted from historical data has become the key criteria to solve this issue. However, it is difficult to determine the lead-time distribution based on the limited amount of historical data directly. Thus, the method this report introduces uses a multivariate higher-order Markov chain to reconstruct historical data in order to expand the amount of data used to fit the lead-time distribution of demand, which is significant for inventory management.

Inventory management system for hardware companies

Some hardware assembly and marketing companies do not apply proper inventory management, causing failures in the product records, which can lead to shortages if there is an unexpected high demand, affecting the costs of ledgers and generating the need for an inventory management system. For this purpose, a methodological process was carried out, starting with the diagnosis, identifying the main factors that need to be improved concerning the management of merchandise, such as lack of inventory policies or reorder level, found through tools such as the SWOT, Ishikawa Diagram and Vester Matrix. Subsequently, an ABC classification was made, in which 1664 products are ordered and 118 of them belong to category A and applying goodness-of-fit tests. Then, the system is characterized and the mathematical models that adjust to the proposed conditions are selected: CEP without shortages and discount by suppliers, which is validated with a simulation. As a result of this process, the policy is established and a 95% improvement in the information quality is observed as a result. Variables part of the models are proposed and developed in the simulation and improve the system by 20% because they impact several products which are the most essential for the company.

Analisis Manajemen Persediaan Dengan Metode Economic Order Quantity (EOQ) Pada Persediaan Bahan Baku UKM Bydevina

UKM Bydevina is an online-based home industry that focuses on hijab and muslim clothing. However, the company has not implemented proper inventory management in running the business. The order quantity of raw materials is only based on estimaste and there is no inventory costs calculation. This study aims to determine UKM Bydevina’s policy in managing raw material inventory, managing raw material inventory using the EOQ method and comparing inventory costs before and after applying the EOQ method. A descriptive-quantitative method is employed in this research. The data was collected thorugh documentation, interview and observation. The result shows that the EOQ for Diamond Fabric is 2.731 yards/order, Moscrepe Fabric is 2.581 yards/order, Rayon Fabric is 763 yards/order and Bubble Pop Fabric is 1.978 yards/order. Then, the company can save inventory costs for Diamond Fabric by Rp 2.102.678 or 12,2%, Moscrepe Fabric by Rp 1.266.937 or 9,6%, Rayon Fabric by Rp 394.052 or 6,2% and Bubble Pop Fabric by Rp 372.426 or 5,3%.

ABC/XYZ Analysis for Kanban System Implementation in Pharmaceutical Supply Chain

The purpose of this study is to show how the implementation of the Kanban system based on ABC/XYZ analysis helps in improving the inventory management system in the supply chain where there is a lack of proper inventory management. Ethiopian pharmaceutical supply agency's distribution network is taken as a case to show the significance of the Kanban system. Monthly data for one year is collected and is accompanied by primary data obtained from direct observation and discussion with the company's management staff. ABC, XYZ, and ABC/XYZ matrix analyses were performed to determine items to be considered in Kanban implementation. By analysis, it is shown that the Kanban system can improve inventory-related costs by about 75%. While the Kanban system is rarely implemented in the pharmaceutical sector so far, it is understood in this study that it can bring improvements in the sector if properly implemented. Though it is shown by analyzing data on how the Kanban system can improve inventory-related costs, it is imperative to practically implement it for validation of its effectiveness.

Factors influencing availability of tracer essential medicines in selected health facilities in Nyeri County, Kenya

Background: Tracer essential medicines are drugs which fully fulfil a population’s health requirements and ought to be always available allowing for a properly functioning health system all the time. They should be available in the appropriate dosage, adequate amounts and at assured quality at a price that many people and the community can easily afford.Methods: Analytical cross-sectional study design was used. This study utilized a mixed method approach (qualitative, observation and quantitative).Results: The study found out that artemether lumefantrine was the least available drug at 50% in all the sampled facilities with KEMSA cited as the main supplier of tracer essential medicines in these facilities. Policy formulation was done without any involvement of pharmacy in-charges and policies passed at the county management team merely passed onto the staff at the health facilities without their engagement.Conclusions: With the roll out of UHC program, majority of the participants indicated an increase in the availability of essential drugs in Nyeri County hence the government should roll out the program countrywide. Health management and leadership teams in the county needs to engage the pharmacy in-charges during policy making and changes, provide efficient communication in the supply chain system, including proper inventory management systems and to enhance research of drugs and emerging diseases in the county.

Art dealers’ inventory strategy: the case of Goupil, Boussod & Valadon from 1860 to 1914

Proper inventory management is crucial for art galleries. Yet, despite its importance, inventory management has been overlooked in the literature. We distinguish four main strategies used by art dealers to manage their inventory and use this classification to set the inventory strategy of Goupil, Boussod & Valadon, a major art gallery active in France at the end of the 19th century, into perspective. Goupil’s books cover the sale of more than 25,000 artworks between 1860 and 1914. Rapidity to sell was a key element in Goupil’s strategy. Out of the sold artworks, almost 75% were sold within a year. Goupil required a slightly higher mark-up for artists from which he held a large inventory. Mark-up for artists in residence and the likelihood to sell their artworks at a loss were lower, signaling a preoccupation for their long-term market.

Assessment of the availability of essential medicines and inventory control practice at university of Gondar comprehensive specialized hospital, Amhara regional state of Ethiopia: institutional based cross-sectional study design

<p class="abstract"><strong>Background:</strong> Assessment of availability of essential medicines is a critical component of universal health coverage and important factor to address patients’ satisfaction and increase their health seeking behavior. Proper inventory management of essential drugs in the health facilities is critical in ensuring availability of essential drugs. The objectives of the study were to assess availability of essential medicines and inventory control practice in university of Gondar comprehensive specialized hospital.</p><p class="abstract"><strong>Methods:</strong> The study was conducted using institution based cross sectional study design from March 10 to April 10, 2019. The data was collected by data abstraction formats and structured observation checklist and data was analyzed by Microsoft office excel for the assessment of the essential medicine’s availability and inventory control practices in Gondar university comprehensive specialized hospital. </p><p class="abstract"><strong>Results:</strong> The overall average availability of essential medicines during survey period in Gondar university hospital was 79.17%. The average stock out in the last six months period was 41.67%. The mean duration of stock out of essential medicines of the hospital in the last six months period was 31.7 days and average frequency of stock out was 0.7. The discrepancy between physical count and stock record count of essential medicines ranged from 0% to about 95%.</p><p class="abstract"><strong>Conclusions:</strong> The average availability of essential medicines during data collection period was fairly high. However, the facility was stock out for significant percent of essential medicines over the last six months period and stock out to lesser extent of percent at the time of survey period.</p>