Managing slow-moving item: a zero- inflated truncated normal approach for modeling demand
Archivos
Fecha
2020
Profesor Guía
Formato del documento
Articulo
ORCID Autor
Título de la revista
ISSN de la revista
Título del volumen
Editor
PeerJ Publishing
Ubicación
ISBN
ISSN
item.page.issne
item.page.doiurl
Facultad
Facultad de Farmacia
Departamento o Escuela
Escuela de Nutricion y Dietetica
Determinador
Recolector
Especie
Nota general
Resumen
This paper proposes a slow-moving management method for a system using of intermittent demand per unit time and lead time demand of items in service enterprise inventory models. Our method uses zero-inflated truncated normal statistical distribution, which makes it possible to model intermittent demand per unit time using mixed
statistical distribution. We conducted numerical experiments based on an algorithm used to forecast intermittent demand over fixed lead time to show that our proposed distributions improved the performance of the continuous review inventory model with shortages.Weevaluated multi-criteria elements (total cost, fill-rate, shortage of quantity per cycle, and the adequacy of the statistical distribution of the lead time demand) for decision analysis using the Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS). We confirmed that our method improved the performance of the inventory model in comparison to other commonly used approaches such as simple exponential smoothing and Croston's method. We found an interesting association between the intermittency of demand per unit of time, the square root of this same parameter and reorder point decisions, that could be explained using classical multiple linear regression model. We confirmed that the parameter of variability of the zeroinflated truncated normal statistical distribution used to model intermittent demand was positively related to the decision of reorder points. Our study examined a decision analysis using illustrative example. Our suggested approach is original, valuable, and, in the case of slow-moving item management for service companies, allows for the verification of decision-making using multiple criteria.
Descripción
Lugar de Publicación
Auspiciador
Palabras clave
DEMAND DURING LEAD TIME, INVENTORY MODELS, ZERO-INFLATED TRUNCATED NORMAL STATISTICAL DISTRIBUTION
Licencia
Distributed under Creative Commons CC-BY 4.0