Multi-Criteria Inventory Classification Models Selection Based on Inventory Performance with Consideration of Forecast Downsides

Putri Juniarti, T. Yuri M. Zagloel

Research output: Chapter in Book/Report/Conference proceedingConference contributionpeer-review

Abstract

Companies often have to deal with many different products as inventory in their storage or warehouse. Inventory classification have an important role to helping companies manage their inventory. According to academic literature, a number of inventory researcher have developed multi-criteria inventory classification (MCIC) models to overcome inventory classification problems. This study focuses to analyze the inventory performance of these MCIC models by evaluating each model inventory performance related to the cost and the service with consideration of the forecast downsides present in the analysis. Forecast error becomes important aspect in this study because in reality there will be forecast error in the forecast and the forecast error can vary in size. There are two scenarios related to forecast error: (1) forecast upsides, when the actual customer demand becomes higher than the forecast and (2) forecast downsides, when actual customer demand becomes lower than the forecast. This study focuses on the latter ones because this scenario of forecast error has a risk of having higher inventory cost with the surplus of the inventory.

Original languageEnglish
Title of host publicationAsia Pacific Conference on Research in Industrial and Systems Engineering, APCORISE 2020 - Proceedings
PublisherAssociation for Computing Machinery
Pages316-321
Number of pages6
ISBN (Electronic)9781450376006
DOIs
Publication statusPublished - 16 Jun 2020
Event3rd Asia Pacific Conference on Research in Industrial and Systems Engineering, APCORISE 2020 - Depok, Online, Indonesia
Duration: 16 Jun 2020 → …

Publication series

NameACM International Conference Proceeding Series

Conference

Conference3rd Asia Pacific Conference on Research in Industrial and Systems Engineering, APCORISE 2020
CountryIndonesia
CityDepok, Online
Period16/06/20 → …

Keywords

  • ABC analysis
  • Inventory
  • Multi-criteria analysis
  • Optimization
  • Service-cost performance

Fingerprint Dive into the research topics of 'Multi-Criteria Inventory Classification Models Selection Based on Inventory Performance with Consideration of Forecast Downsides'. Together they form a unique fingerprint.

Cite this