An Approach to Stock Cover Indicator Adequacy

Atanasov, Nikola; Rakićević, Zoran; Lečić-Cvetković, Danica; Omerbegović-Bijelović, Jasmina

doi:10.7595/management.fon.2014.0026

Cited by 2 publications

(4 citation statements)

References 6 publications

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“…Teodora Rajković, Lena Ðorđević Milutinović, Danica Lečić-Cvetković 2020/25 (3) The basic contribution of this paper is the model developed for measuring the adequacy of selected performance indicators in the first phase of production management -planning. The performances and their indicators are defined according to the literature review, selecting the adequate ones for the planning phase.…”

Section: The Model Implementation and Simulation Resultsmentioning

confidence: 99%

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Spreadsheet Model for Determining Adequate Performance Indicators of Production Management

Rajković

Milutinović

Lečić-Cvetković

2020

Manage: J. Sustainable Bus. Manage, Solutions Emerging Econ.

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Research Question: This paper presents a simulation model aimed at improving total adequacy calculation for performance indicators of the first phase of production management. Motivation: Defining a set of adequate performance indicators that are specific and highly important for the observed planning phase has a significant impact on the effectiveness of the production process management. The result of the developed model is the value of selected performance indicators adequacy. Consequently, it can be concluded whether defined performance indicators are essential for the observed phase or other performance indicators should be selected. The monitoring of defined performance indicators should provide complete information about the observed phase and improvement of the planning phase management. Idea: The main idea of this paper is to develop a user-friendly simulation model, in accordance with the basic principles of spreadsheet engineering, for improving the selection of adequate performance indicators. This model is intended for use in Small and Medium Enterprises (SMEs) for the improvement of production management. Data: The data used in the paper are grounded on the scientific articles, reviews and empirical studies, related to the performance and performance indicators in production management. The set of most adequate performance indicators based on a relevant literature review and used in the model, represents performance indicators for the planning phase that are the most suitable for SMEs. Tools: The simulation model is developed in a spreadsheet environment. The use of spreadsheet applications enables simple data entry, processing, editing, analyzing and output reports compiling. Findings: Simulation results show the overall efficiency of the developed model in the determination of adequate performance indicators. They influence overall adequacy of performance indicators on the observed phase. Contribution: The main contribution of this paper lies in the model developed to maximize the adequacy of the performance indicators, suitable for use in the production management of SMEs.

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Section: The Model Implementation and Simulation Resultsmentioning

confidence: 99%

“…This value must be between the minimum and the maximum number of adequate performance indicators for considered performance. The control domain is defined by three constraints (3)(4)(5).…”

Section: Problem Descriptionmentioning

confidence: 99%

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Spreadsheet Model for Determining Adequate Performance Indicators of Production Management

Rajković

Milutinović

Lečić-Cvetković

2020

Manage: J. Sustainable Bus. Manage, Solutions Emerging Econ.

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“…The lean manufacturing concept views stock as a waste product whose cost needs to be continuously decreased. Good inventory management is now synonymous with inventory management that adheres to the lean mindset (Atanasov, 2013). Industrial cost reductions have been made possible in large part by lean inventory management.…”

Section: Lean Inventory Managementmentioning

confidence: 99%

The Drivers of Complexity in Inventory Management Within the Healthcare Industry

Al Khatib,

Alasheh,

Shamayleh

2024

International Journal of Service Science, Management, Engineering, and Technology

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The purpose of this study is to investigate the complexities of inventory management in the healthcare industry for improving efficiency and resilience in healthcare supply chains. A Systematic Literature review using Scopus database and PRISMA approach was performed. Driven by innovation and technology, new developments are changing the face of inventory management. Predictive analytics and stock optimization are made possible by the increasing deployment of AI and machine learning. Autonomous Mobile Robots and RFID technology are being used more for quick identification and data collection, while Internet-of-Things devices are used for real-time tracking. Blockchain technology to guarantee supply chain traceability and transparency is also being investigated. Another is automation through robots, which lowers human error and increases warehouse operation efficiency. Finally, the incorporation of cloud-based systems such as SMART logistics and E-logistics platforms enables distant access to inventory information, encouraging adaptability and cooperation across various sites.

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An Approach to Stock Cover Indicator Adequacy

Cited by 2 publications

References 6 publications

Spreadsheet Model for Determining Adequate Performance Indicators of Production Management

Spreadsheet Model for Determining Adequate Performance Indicators of Production Management

The Drivers of Complexity in Inventory Management Within the Healthcare Industry

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