Pregled bibliografske jedinice broj: 1031395
Inventory management: a practical example from wood processing industry
Inventory management: a practical example from wood processing industry // Proceedings of 5th International scientific and export conference of the International TEAM society / Lehocka, Dominika ; Carach, Jan ; Knapčikova, Lucia ; Hloch, Sergej (ur.).
Prešov: TEAM Society, 2013. str. 74-77 (predavanje, međunarodna recenzija, cjeloviti rad (in extenso), znanstveni)
CROSBI ID: 1031395 Za ispravke kontaktirajte CROSBI podršku putem web obrasca
Naslov
Inventory management: a practical example from wood processing industry
Autori
Katolik, Andreja ; Jurković, Zvonimir
Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni
Izvornik
Proceedings of 5th International scientific and export conference of the International TEAM society
/ Lehocka, Dominika ; Carach, Jan ; Knapčikova, Lucia ; Hloch, Sergej - Prešov : TEAM Society, 2013, 74-77
Skup
5th International International scientific and export conference of the International TEAM society
Mjesto i datum
Prešov, Slovačka, 04.11.2013. - 06.11.2013
Vrsta sudjelovanja
Predavanje
Vrsta recenzije
Međunarodna recenzija
Ključne riječi
optimal stock management, stock models, business entity (company) , management, production (manufacturing)
Sažetak
Inventory is a vital factor in the business operations of manufacturing and trade companies. The essence of inventory philosophy is to make sure that stocks do not fall below the minimum level or reach excessive quantity to prevent them from losing value with time. There are concepts, i.e., models available to be implemented by business entities that can provide for an efficient inventory management and facilitate business operations. This paper aims to present the theoretical framework of inventory management, discuss a real-life example of inventory management and offer possible solutions to the problem. The observed company's main activity is wood processing. One of the main problems of the observed company was the fact that it needed a more efficient inventory management because it often happened that it either had too much inventory or not enough to continue the production. Inventory management could be improved by using simple mathematical methods to determine the optimum order quantity for specific raw materials and the minimum inventory level for a product, as illustrated by a simple example. In addition to introducing essential structural changes to the management, in order to improve company’s stock management it is proposed to implement advanced information technology which will help find the right planning and inventory control models.
Izvorni jezik
Engleski
Znanstvena područja
Ekonomija
