A regression-based improvement to the multiple criteria ABC inventory classification analysis

Karagiannis, Giannis; Paleologou, Suzanna Maria

doi:10.1007/s10479-020-03788-1

Cited by 7 publications

(3 citation statements)

References 24 publications

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“…Depending on the nature of the inventory data used in this research study, the ARMBU was found to be a significant criterion in accordance with Zhou and Fan (2007) they have stated that annual usage value as the most important criterion. Moreover, this has affirmed in a recent study by (Karagiannis & Paleologou, 2021) who have stated that their empirical results showed the importance of the three classification criteria, namely that annual value usage is at least as important as average unit cost, which in turn is at least as important as lead time. The weights were estimated in an objective manner as combined and based on mean, which should lead to more accurate items classifications when operating PROMETHEE II and COPRAS.…”

Section: Resultsmentioning

confidence: 54%

Proposing New Hybrid Models for Multicriteria Inventory ABC Classification

Zowid¹

2023

(GJEB)

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The literature is abundant with research studies that have been developed to provide an efficient model which has never been studied for multicriteria inventory classification MCIC problems. Therefore, this study proposes two hybrid inventory classification systems. Recently, the TOPSIS model has been widely developed, initially examined, and found very efficient to the (MCIC) due to its advantages and simplicity of use. In contrast, to the best of our knowledge, the PROMETHEE II and COPRAS models for determining (criteria weights) parameter values and classification, resulting in low/or competitive inventory cost and high service level. The proposed models utilize two sets of weights of CRITIC and Spearman’s rho (SR) tools for learning and optimizing PROMETHEE II and COPARS. In addition, a performance analysis is validated using a real-world dataset composed of 63 stock-keeping units (SKUs). The performance is compared to existing six MCIC classification models. The results reflect performances of the proposed models. Additionally, the comparative analysis indicates that the COPRAS model is the most preferred. Finally, the performance of the proposed models can be a great support for the overall supply chain system and decisions.

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Section: Resultsmentioning

confidence: 54%

Proposing New Hybrid Models for Multicriteria Inventory ABC Classification

Zowid¹

2023

(GJEB)

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“…Research by Pérez Vergara et al (2020) weighted the multi-criteria classification of ABC using the AHP technique. Karagiannis & Paleologou (2021) used a regression-based approach to derive a set of weights for analyzing ABC multicriteria in inventory.…”

Section: Inventory Management In Mromentioning

confidence: 99%

“…The objective of this paper is to study the characteristics of PT XYZ aircraft inventory material to find the root cause of planning inaccuracy which resulted in the high level of the company's inventory. Previous studies, such as weight linear optimization approach for muticriteria ABC inventory (Torabi, Hatefi, & Pay, 2012), regression-based improvement to the multiple criteria ABC inventory classification (Karagiannis & Paleologou, 2021), and multi-criteria ABC inventory classification with exponential smoothing (Jamshidi & Jain, 2008a) have conducted inventory classification, however the classification has been used only to determine the characteristics of the materials in inventory. The characteristics have not been used to further be analysed such as the root cause of high inventory in specific characteristics of the inventory.…”

Section: Introduction *mentioning

confidence: 99%

Inventory Analysis using Multi-Criteria ABC and ISM Method – A Case Study in Indonesia’s Aviation MRO

Pradini,

Kusumastuti

2023

Quant. Econ. Manag. Stud.

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Level of inventory plays a crucial role in managing the supply chain in a company, one of which is Aircraft Maintenance, Repair, and Overhaul (MRO) Company. This paper will analyze the material inventory in one of Indonesia’s aircraft MRO companies by categorizing the material and focus on finding the root causes of the high inventory level. ABC Analysis using multiple criteria will be used to categorize the aircraft spare parts inventory. The categories will then be used as the Focus Group Discussion (FGD) topic to gain and determine several root causes of the phenomena. FGD results will then be further analysed using Interpretative Structural Matrix (ISM) to see if there are some interrelationships between root causes. The high inventory level of aircraft spare parts inventory root causes will be specifically determined by analyzing the A category of ABC Classification as this category represents 70% of the inventory. Based on the analysis, it is recommended to solve the root causes extracted from the ISM first to lower the inventory level. This study will be useful for managers to determine the strategy to make the inventory lower impacting on the increase of company’s profit increase.

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