Opportunities for Classifying the Material Stocks by Several Criteria

Tanka Milkova ()
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Tanka Milkova: University of Economics - Varna

Izvestia Journal of the Union of Scientists - Varna. Economic Sciences Series, 2019, vol. 8, issue 2, 11-20

Abstract: One of the key factors for ensuring the achievement of business aims is related to the proper inventory management in the logistics system. Before moving on to the selection of appropriate methods for optimal management of each specific stock type, it is necessary to classify the whole nomenclature in order of importance according to certain criteria, most often using the methods of analysis ABC and XYZ. Subsequently, appropriate management methods are applied to each of the stock groups. In the specialized literature, the classification of the material stocks by one criterion or the sequential classification of each group by several criteria is most often considered. The present study proposes an approach for constructing an integral nomenclature classification criterion that simultaneously considers the impact of several criteria.

Keywords: inventory management; ABC analysis; XYZ analysis. (search for similar items in EconPapers)
JEL-codes: C61 (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:vra:journl:v:8:y:2019:i:2:p:11-20

DOI: 10.36997/IJUSV-ESS/2019.8.2.11

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