TY - GEN
T1 - Inventory management models and their effects on uncertain demand
AU - Nemtajela, N.
AU - Mbohwa, C.
N1 - Publisher Copyright:
© 2016 IEEE.
PY - 2016/12/27
Y1 - 2016/12/27
N2 - This paper focuses on the use of inventory models to control the material flow and purchased inventory items in manufacturing companies. The objectives of this paper are to assess the effects of demand uncertainty on inventory management and to evaluate the difference on uncertain demand subject to demand controls as determined and the models used. Three inventory management models are studied; the Economic Order Quantity (EOQ), the Activity-Based Costing (ABC), and Just-in-time (JIT). The paper was a descriptive in nature and was conducted through the use of quantitative research methods. Survey questionnaire was compiled to gather primary data from five FMCG companies in manufacturing organisations. Survey data of 255 respondents from FMCG manufacturing companies was used in the analysis.
AB - This paper focuses on the use of inventory models to control the material flow and purchased inventory items in manufacturing companies. The objectives of this paper are to assess the effects of demand uncertainty on inventory management and to evaluate the difference on uncertain demand subject to demand controls as determined and the models used. Three inventory management models are studied; the Economic Order Quantity (EOQ), the Activity-Based Costing (ABC), and Just-in-time (JIT). The paper was a descriptive in nature and was conducted through the use of quantitative research methods. Survey questionnaire was compiled to gather primary data from five FMCG companies in manufacturing organisations. Survey data of 255 respondents from FMCG manufacturing companies was used in the analysis.
KW - Fast moving consumer goods (FMCG)
KW - inventory management
KW - inventory management models
KW - uncertain demand
UR - http://www.scopus.com/inward/record.url?scp=85009929134&partnerID=8YFLogxK
U2 - 10.1109/IEEM.2016.7798037
DO - 10.1109/IEEM.2016.7798037
M3 - Conference contribution
AN - SCOPUS:85009929134
T3 - IEEE International Conference on Industrial Engineering and Engineering Management
SP - 1046
EP - 1048
BT - 2016 International Conference on Industrial Engineering and Engineering Management, IEEM 2016
PB - IEEE Computer Society
T2 - 2016 International Conference on Industrial Engineering and Engineering Management, IEEM 2016
Y2 - 4 December 2016 through 7 December 2016
ER -