EOQ Inventory Model in a Metalworking MSE with Intermittent Demand: A Case Study

Jaime Abel Jiménez Ayhuasi; José Antonio Taquía Gutiérrez

doi:10.3233/ATDE230038

EOQ Inventory Model in a Metalworking MSE with Intermittent Demand: A Case Study

Jaime Abel Jiménez Ayhuasi, José Antonio Taquía Gutiérrez

Carrera de Ingeniería Industrial

Producción científica: Capítulo del libro/informe/acta de congreso › Capítulo › revisión exhaustiva

Resumen

The main objective of this research article is to optimize costs and logistic KPIs applying an economic order quantity (EOQ) inventory model in a metal-mechanic MSE with intermittent demand. Firstly, the forecast model with the lowest MAD and ECM is selected. The object under study, after ABC classification, belongs to the family of products located in class A due to its valuation and participation in the inventory. The Croston method is considered the most effective forecast model. Secondly, an aggregate planning is developed to satisfy the projection. Then, the EOQ or Wilson model is implemented to reduce inventory costs. Finally, to validate the calculated data, a simulation model is built in Arena with 50 replications. As a result, the inventory costs were reduced to 22.6%

Idioma original	Inglés estadounidense
Título de la publicación alojada	EOQ Inventory Model in a Metalworking MSE with Intermittent Demand: A Case Study
Editores	Loon-Ching Tang
Lugar de publicación	The Netherlands
Editorial	IOS Press
Páginas	128 - 139
Número de páginas	11
Volumen	35
ISBN (versión digital)	978-1-64368-409-3
ISBN (versión impresa)	978-1-64368-408-6
DOI	https://doi.org/10.3233/ATDE230038
Estado	Publicada - 27 jul. 2023
Evento	10th International Conference on Industrial Engineering and Applications- Asia - Phuket, Tailandia Duración: 4 abr. 2023 → 6 abr. 2023 Número de conferencia: 10 http://www.iciea.org/

Serie de la publicación

Nombre	Advances in Transdisciplinary Engineering
Editorial	IOS Press
Volumen	35
ISSN (versión impresa)	2352-751X
ISSN (versión digital)	2352-7528

Conferencia

Conferencia	10th International Conference on Industrial Engineering and Applications- Asia
Título abreviado	ICIEA-ASIA
País/Territorio	Tailandia
Ciudad	Phuket
Período	4/04/23 → 6/04/23
Dirección de internet	http://www.iciea.org/

Palabras Clave

Intermittent demand forecasting
Croston Method
EOQ Model
Logistic indicators
simulación computacional

Acceder al documento

10.3233/ATDE230038

Otros archivos y enlaces

https://doi.org/10.3233/ATDE230038

1 Revisión por parte de expertos de una publicación

10th International Conference on Industrial Engineering and Applications- Asia (Evento)
José Antonio Taquía Gutiérrez (Revisor)
9 abr. 2023
Actividad: Revisión de una publicación realizada por expertos y trabajo editorial › Revisión por parte de expertos de una publicación

Archivo

2 Terminado

Logística urbana aplicada a la distribución retail de productos y servicios
Taquía Gutiérrez, J. A. & Garcia Lopez, Y. J.
1/04/22 → 31/03/23
Proyecto: Investigación
Balance de planificación de oferta y demanda
Taquía Gutiérrez, J. A.
9/04/12 → 28/03/13
Proyecto: Investigación

Citar esto

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abstract = "The main objective of this research article is to optimize costs and logistic KPIs applying an economic order quantity (EOQ) inventory model in a metal-mechanic MSE with intermittent demand. Firstly, the forecast model with the lowest MAD and ECM is selected. The object under study, after ABC classification, belongs to the family of products located in class A due to its valuation and participation in the inventory. The Croston method is considered the most effective forecast model. Secondly, an aggregate planning is developed to satisfy the projection. Then, the EOQ or Wilson model is implemented to reduce inventory costs. Finally, to validate the calculated data, a simulation model is built in Arena with 50 replications. As a result, the inventory costs were reduced to 22.6%",

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Ayhuasi, JAJ & Gutiérrez, JAT 2023, EOQ Inventory Model in a Metalworking MSE with Intermittent Demand: A Case Study. En L-C Tang (ed.), EOQ Inventory Model in a Metalworking MSE with Intermittent Demand: A Case Study. vol. 35, Advances in Transdisciplinary Engineering, vol. 35, IOS Press, The Netherlands, pp. 128 - 139, 10th International Conference on Industrial Engineering and Applications- Asia, Phuket, Tailandia, 4/04/23. https://doi.org/10.3233/ATDE230038

EOQ Inventory Model in a Metalworking MSE with Intermittent Demand: A Case Study. / Ayhuasi, Jaime Abel Jiménez; Gutiérrez, José Antonio Taquía.
EOQ Inventory Model in a Metalworking MSE with Intermittent Demand: A Case Study. ed. / Loon-Ching Tang. Vol. 35 The Netherlands: IOS Press, 2023. p. 128 - 139 (Advances in Transdisciplinary Engineering; Vol. 35).

Producción científica: Capítulo del libro/informe/acta de congreso › Capítulo › revisión exhaustiva

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AB - The main objective of this research article is to optimize costs and logistic KPIs applying an economic order quantity (EOQ) inventory model in a metal-mechanic MSE with intermittent demand. Firstly, the forecast model with the lowest MAD and ECM is selected. The object under study, after ABC classification, belongs to the family of products located in class A due to its valuation and participation in the inventory. The Croston method is considered the most effective forecast model. Secondly, an aggregate planning is developed to satisfy the projection. Then, the EOQ or Wilson model is implemented to reduce inventory costs. Finally, to validate the calculated data, a simulation model is built in Arena with 50 replications. As a result, the inventory costs were reduced to 22.6%

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KW - Logistic indicators

KW - simulación computacional

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CY - The Netherlands

T2 - 10th International Conference on Industrial Engineering and Applications- Asia

Y2 - 4 April 2023 through 6 April 2023

ER -

EOQ Inventory Model in a Metalworking MSE with Intermittent Demand: A Case Study

Resumen

Serie de la publicación

Conferencia

Palabras Clave

Acceder al documento

Otros archivos y enlaces

Actividades

10th International Conference on Industrial Engineering and Applications- Asia (Evento)

Proyectos

Logística urbana aplicada a la distribución retail de productos y servicios

Balance de planificación de oferta y demanda

Citar esto