Proposal for Optimization of the Inventory Level Using the Appropriate Method for its Procurement

Abstract

This paper deals with the optimization of the inventory level through determining and applying the appropriate way for the procurement of the inventory. It is important to determine the optimization criteria which are proposed on the basis of defining the factors affecting the determination of the procurement method. The criteria are proposed in such way in order the costs are optimized, and at the same time, the risk of the inventory deficiency is reduced. The paper also contains the algorithm regarding the determination of the appropriate procurement method. This algorithm takes into account the particular set of criteria and the proposal of multi-criteria model of the inventory management. Subsequently, the specific cases of costs reduction and reduction of risk of the inventory deficiency when applying the proposed model in comparison with the application of existing models are presented.

Application of the Vogel Approximation Method to Reduce Transport-logistics Processes

“…In contrast to the usual Vogel approximation method, where the lowest rate would now be selected and the maximum under the restrictive conditions would be added, a cell with the lowest value of distance is chosen in the selected area. This procedure is repeated until the entire transport task is complete [5][6][7][8].…”

“…In the first row V 1 we calculate the difference of values for cells [V 1 ; V 3 ] = 11.5 km and [V 1 ; V 2 ] = 10.7 km. The difference of these values is 0.8 kilometres, which is written in the right-hand outer part of the table [5,18]. The second step is to select the highest value of all the differences.…”

“…Currently, there are many ways to optimize processes in a company. The most commonly used are those using operational research methods or graphical representations [4][5][6].…”

Potential for Intermodal Transport of Chemical Goods in Slovakia

“…There are several problems in the field of road transportsuch as lack of drivers with worsening trend (less attractive of the profession due to its characteristics -long time away from home, safety and security risks [1][2][3][4], high costs for driver licence and qualification card,...) or increase of costs (toll, minimum wages in some of the European countries,...). As an additional problem (as is resulting from the statistics mentioned above) can be mentioned the differences between export and import cargo flows [5] from/to particular European countries, resulting to problematic backhaul. Therefore, a lack of free vehicles for the cargo may occur as a result of these factors (worse availability of some types of vehicles, e.g.…”

Practical Using Of Network Method to Logistics Chain

“…As a result, individual activities amalgamated and the continuity of the entire process was created [4][5][6][7].…”