Tuning inventory policy parameters in a small chemical company

R García-Flores, X Z Wang () and T F Burgess
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R García-Flores: The University of Leeds
X Z Wang: The University of Leeds
T F Burgess: The University of Leeds

Journal of the Operational Research Society, 2003, vol. 54, issue 4, 350-361

Abstract: Abstract A project to improve inventory management in a small UK chemical company is described. A research group comprising university academics and company managers for logistics and information technology examined current practices and analysed a database of historical records of business operations of the company. Based on the analysis, a scheme to categorise stock and set ordering policies to optimise inventory costs was developed. Some comments are made on process issues and the learning that took place.

Keywords: practice of OR; inventory control; forecasting; small and medium enterprises; chemicals; data mining (search for similar items in EconPapers)
Date: 2003
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Citations: View citations in EconPapers (1)

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DOI: 10.1057/palgrave.jors.2601530

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