Optimization of Inventory Management Logistic Model of the Machine-Building Enterprises

Olha Holovan (), Oleksandr Oliynyk and Yevheniia Makazan
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Olha Holovan: Zaporizhzhya National University, Department of Management
Oleksandr Oliynyk: Zaporizhzhya National University, Department of Management
Yevheniia Makazan: Zaporizhzhya National University, Department of Management

No 17001, EconWorld Working Papers from WERI-World Economic Research Institute

Abstract: The aim of this study is to develop the inventory management model based on Economic Order Quantity model using asymptotic perturbation methods. The simple asymptotic formulas for the "perturbed" order quantity has been obtained when cost per order, storage cost and product demand change slightly. As the results show, the total costs, which correspond to "perturbed" order quantities, are less than ones at economic order quantity. Decrease of logistics costs can improve the market competitiveness of the machine-building enterprises' products. Modeling the nature of cost increase and demand fluctuation using asymptotic formulas the machine-building enterprises will be able to make prompt adjustments to optimize logistics processes.

Keywords: Logistic model; asymptotic methods; small parameter; asymptotic expansions (search for similar items in EconPapers)
JEL-codes: C59 M11 M20 (search for similar items in EconPapers)
Pages: 15 pages
Date: 2017-02, Revised 2017-02
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Persistent link: https://EconPapers.repec.org/RePEc:ana:wpaper:17001

DOI: 10.22440/EconWorld.WP.2017.001

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