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IJSTR >> Volume 6 - Issue 9, September 2017 Edition



International Journal of Scientific & Technology Research  
International Journal of Scientific & Technology Research

Website: http://www.ijstr.org

ISSN 2277-8616



Revolutionary Modeling In Inventory Management Systems

[Full Text]

 

AUTHOR(S)

Hamit Topuz, Arda Albayrak, Gamze Karslı

 

KEYWORDS

Lubricants, inventory, safety stock, imported commodities, modeling, competitive edge.

 

ABSTRACT

Lubricant markets are becoming even more competitive and therefore companies are relentlessly striving to reduce the inventory running costs to lessen the company expenses at a reasonable level in order to remain competitive in this highly volatile environment. It helps the companies becoming profitable and thus business grow. In this study our main goal was to focus on imported commodities from other branches of the company. The goods imported, due to the Company Policy, are not manufactured in the country. We try to improve existing model and to adopt above mentioned goods for calculating the safety stock levels that the company, especially during high seasons, experiencing stock outs resulting inevitable business losses. We presented a cost model approximation. It is shown that the proposed model not only reduce substantial cost of inventory, but also help to meet the customer expectations without employing highly expensive sophisticated software tools and therefore, it substantially aims to increase customer service level too.

 

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