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Deterministic ınventory models with non-perishable product: a comparative study

Author

Listed:
  • Germán Herrera Vidal

    (Universidad del Sinú – Seccional Cartagena, Grupo de Investigación Deartica)

  • Camilo Molina Guerrero

    (Universidad del Sinú – Seccional Cartagena, Grupo de Investigación Deartica)

Abstract

Today's business environments are increasingly competitive, so establishing inventory policies allows for greater permanence. The objective of this research applies a comparison of deterministic models of inventories, based on current policies, in search of the optimal method based on total costs. For its development an industrial company of the plastic sector in the city of Cartagena—Colombia was taken. An initial diagnosis shows that the company has not implemented an adequate inventory method based on variable demand. The proposed methodology develops four stages, (i) Description of the case study, (ii) Data collection and analysis, (iii) Processing of inventory model methods and (iv) Analysis of results. Validation was carried out in a practical way, initially in the laboratory and later on site. The findings established that the higher the number of orders, the higher the order costs and the total costs, and that the maintenance cost is zero when the volume of orders is high and increases as orders stabilise. Finally, a better inventory policy is obtained when operating with algorithms, mixed integer linear programming optimisation and discrete simulation with deterministic variables.

Suggested Citation

  • Germán Herrera Vidal & Camilo Molina Guerrero, 2024. "Deterministic ınventory models with non-perishable product: a comparative study," International Journal of System Assurance Engineering and Management, Springer;The Society for Reliability, Engineering Quality and Operations Management (SREQOM),India, and Division of Operation and Maintenance, Lulea University of Technology, Sweden, vol. 15(6), pages 2500-2517, June.
  • Handle: RePEc:spr:ijsaem:v:15:y:2024:i:6:d:10.1007_s13198-024-02267-1
    DOI: 10.1007/s13198-024-02267-1
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