Naslov
A Model with Storage Limitation and Simulated Demand as Fresh Meat Inventory Management Support

Autori
Dukić, Gordana ; Dukić, Darko ; Sesar, Mate

Izvornik
Poljoprivreda (Osijek) (1330-7142) 13 (2007), 1; 222-225

Vrsta, podvrsta i kategorija rada
Radovi u časopisima, članak, znanstveni

Ključne riječi
inventory model with storage limitation ; computer simulated demand ; fresh meat inventory ; inventory costs ; optimization

Sažetak
An important aspect of retail outlets which offer different kinds of fresh meat is the careful planning of inventory. In this context, inventory management includes ensuring the required quantity of meat, storing it in an adequate way, and also minimizing the setup cost, holding cost, shortage cost and possible losses that might occur if the goods remain unsold. By devising and applying appropriate models companies can significantly improve their decision making connected to harmonizing the demand and different inventory costs. This paper presents an inventory model with limited storage space, characterized by the estimate of meat demand based on simulated values that are generated by computer from beta distribution. If the determined quantities exceed the available storage space, in the model then could be used the Lagrange multiplier which allows for simultaneous decrease of the originally established values. This eventually results in the optimum order quantity of different meat products, as well as the associated total storage costs.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija, Informacijske i komunikacijske znanosti

POVEZANOST RADA