Evaluation of the Role of Inventory Management in Logistics Chain of an Organisation

Oluwaseyi, Joseph Afolabi; Onifade, M. K.; F, ODEYINKA. Olumide

doi:10.1515/logi-2017-0011

Cited by 30 publications

(30 citation statements)

References 2 publications

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“…In general, most of the published studies dealing with inventory management issues are aimed at applying existing inventory management models (see literature review chapter) as well as publications [38][39][40][41][42][43][44]. Unlike those literature sources, this manuscript is focused on an in-depth analysis of the existing model internal structure, i.e., the deterministic model of inventory management, and investigates options to improve its objective function through the appropriate design of its parameters.…”

Section: Resultsmentioning

confidence: 99%

“…Apart from parameter W, the incorporation of parameter S ned may also play an important role in increasing the maintained inventory level H in the company. The average inventory level Q, together with the speed of inventory turnover v, is a leading indicator of the effectiveness of inventory management [39]. The average inventory level Q amounts to 1 2 the optimal order size Q opt (see Equation 15).…”

Section: Resultsmentioning

confidence: 99%

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Inventory Model Design by Implementing New Parameters into the Deterministic Model Objective Function to Streamline Effectiveness Indicators of the Inventory Management

2019

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The aim of this article is to modify the parameters and thus the objective function of the deterministic model of inventory theory so that other important aspects, which influence inventory management, can be taken into consideration. These aspects include the nature of inventory consumption, the share of inventories in sales, the capacity of means of transport and, above all, the reliability of suppliers. This goal is achieved by performing sophisticated and specific calculations for the individual parameters in the modified model. The modification of the objective function of the deterministic model has created a new multi-criteria model. The outcome of this model sought to optimize the supply process in a way that minimizes the risks associated with a lack of inventories while maintaining the economic effectiveness thereof. The model effectiveness is examined by comparing the application of the deterministic model and the proposed model with modified objective function. The results of applying these individual models have been produced based on calculations of indicators showing inventory management effectiveness—the speed of inventory turnover and the average number of inventories in storage.

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Section: Resultsmentioning

confidence: 99%

Section: Resultsmentioning

confidence: 99%

Inventory Model Design by Implementing New Parameters into the Deterministic Model Objective Function to Streamline Effectiveness Indicators of the Inventory Management

2019

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“…provides statistical evaluation of those entrances during the reference period [18][19]. As far as the number of vehicles during the reference period is concerned, entrance 3 with a total of 86,535 vehicles was the most occupied, followed by the main entrance with 86,347 vehicles and entrance 4 with a total of 62,820 vehicles.…”

Section: Methodsmentioning

confidence: 99%

On-Site Traffic Management Evaluation and Proposals to Improve Safety of Access to Workplaces

Paľo¹,

Stopka²

2021

Komunikácie

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Transport is a phenomenon currently used in almost every sector. That is why attention is to be paid to transport safety, which should not only be addressed in relation to situation in cities or urban areas, but it is also necessary to deal with transport safety in larger enterprises where motor traffic encounters non-motorized traffic. The authors elaborated a similar research study. The introductory two sections analyze the current situation in terms of identifying bottlenecks of the traffic organization on the industrial site and possible separation of motor from non-motorized traffic to ensure safe access to workplaces and improve safety of transport on the site. In the most important part of the study, the obtained results are presented, wherein the “load” of the individual entry and exit points is specified. Thereafter, based on the acquired data, particular solutions related to transport safety with appropriate discussion are proposed.

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“…The circuit uses 4 units 2-inches diameter hydraulic pistons [19], using 4 levers to control the actuated directional valve, which can be selected which rack to move. As a pressure control [3], there is a pressure relief valve set at 1000 psi according to the needs used to move the rack as the calculation above. Besides that, a throttle valve is also installed to regulate the piston's hydraulic movement faster or slower with the source coming from a power pack, which has a pressure of 3000 psi [20].…”

Section: Hydraulic Circuitsmentioning

confidence: 99%

“…Inventory management is essential to ensure the smooth operation of the maintenance department [2]. Inventory management operations determine the storage efficiency of a product or spare part in a plant, especially for offshore plants that have limited storage area [3]. The right storing can maintain spare parts in good condition for a longer time.…”

Section: Introductionmentioning

confidence: 99%

Design Process of Dme Storage System as Assembly Parts or Maintenance Spare Parts Inventory in Offshore Oil Drilling Piping System

Cahyati

Mahendra

2020

Sinergi

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Discharge Manifold Equipment (DME) is an output pipe from a pump that bears an essential role in a piping system in offshore oil drilling, so it is a must to assure good bears condition whenever used. It is not an easy thing because DME is a significant and heavy component. Also, unfavourable conditions of offshore climate can accelerate its corrosion. Storage with the modular rack uses an offshore container certified DNV 2.7-1 / EN 12079 will be designed to fulfil those needs. The storage has an important role as an element in inventory, both the storage system for assembly parts or maintenance spare parts. This storage will be design using 4 (four) phases from VDI 2221 methods, namely; task clarification, conceptual design, embodiment design, and detailed design. Hydraulic power will be added to the system to support the piston movement so that the storage rack can be moved automatically by the hydraulic system. This storage has given the best solution for a systematic storing DME in the piping system of offshore oil drilling.

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Evaluation of the Role of Inventory Management in Logistics Chain of an Organisation

Cited by 30 publications

References 2 publications

Inventory Model Design by Implementing New Parameters into the Deterministic Model Objective Function to Streamline Effectiveness Indicators of the Inventory Management

Inventory Model Design by Implementing New Parameters into the Deterministic Model Objective Function to Streamline Effectiveness Indicators of the Inventory Management

On-Site Traffic Management Evaluation and Proposals to Improve Safety of Access to Workplaces

Design Process of Dme Storage System as Assembly Parts or Maintenance Spare Parts Inventory in Offshore Oil Drilling Piping System

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