Methodics to Create Effective Inventory Management System in a Company

Abstract:

Pursuant to the statistics data of Eurostat, the economy of European Union is slowly recovering from year lasting recession. The gross domestic product volume increased in 2^nd quarter of the year 2013 by 0.3%. The industrial companies in EU are nevertheless facing still increasing competitiveness as the European and global markets are developing under current business conditions. To be successful within the frame of current supply chains the companies must have well-developed logistics management systems to effectively treat with flows streaming in their inner or outer supply chains. One of the main elements of company logistics management systems is inventory management subsystem to plan, to manage and to control particular stock items. In the paper it is briefly described the methodics to design effective inventory management system whether in industrial or service company.

• Periodical: Applied Mechanics and Materials (Volume 708)
• Pages: 245-250
• DOI: https://doi.org/10.4028/www.scientific.net/AMM.708.245
• Online since: December 2014
• Authors: Martin Hart*, Miroslav Musil, Pavel Taraba
• Keywords: Economy, Inventory Management, Logistic, Logistics Management, Methodics

References

[1] G. Fedorko, Z. Čujan, Optimization in modern business practice, International Conference on Industrial Logistics - ICIL 2014. (2014) 167-175.

[2] M. Hart, Z. Lisakovica, Inventory management based on demand forecasting, International Conference Logistics in Theory and Practice II. (2011) 17-23.

[3] P. Kacmary, D. Malindzak, Forecasting of sale and production in dynamically changed trade conditions, Acta Montanistica Slovaca. (2010) 53-60.

[4] M. Hart, X. Lukoszova, J. Kubikova, Logistics system management based on demand forecasting, in: K. Grzybowska (Eds. ), Monograph, Logistics – Selected Concepts and Best Practices, Publishing House of Poznan University of Technology, Poznan, Poland, 2012: pp.181-198.

[5] M. Hart, P. Taraba, M. Tomastik, Drawing of layout documentation as the basis of logistics management system of a company – Literature review, New methodics, Case study, The 3rd International Conference on Advanced Logistics and Transport. (2014).

DOI: 10.1109/icadlt.2014.6866338

[6] G. Fedorko, A. Rosová, V. Molnár, The application of computer simulation in solving traffic problems in the urban traffic management in Slovakia, Theoretical and Empirical Researches in Urban Management. 9-3 (2014) 5-17.

[7] R. Németh, V. Molnár, L. Olexa, Evaluation of transport research between U. S. Steel Košice employees in an integrated transport system, International Conference on Industrial Logistics - ICIL 2014. (2014) 173-180.

[8] M. Hart, J. Rasner, X. Lukoszova, Demand forecasting significance for process management of contemporary logistics systems, The 2nd Carpathian Logistics Congress. (2012) 199-205.

[9] M. Hart, M. Tomastik, P. Taraba, Demand forecasting system as a strong tool for effective logistics management, The 9th International Conference on Logistics & Sustainable Transport. (2012) 322-332.

[10] P. Pernica, Logistics (Supply chain management) for 21st century, first ed., Radix, Praha, 2005. (original in Czech).

[11] H. Horakova, J. Kubat, Stocks managements, third ed., Profess, Praha, 1998. (original in Czech).

[12] R. H. Ballou, Business Logistics / Supply chain management and Logware, fifth ed., Prentice Hall, Inc., New Jersey, (2003).

[13] M. Hart, The Approaches to independent demand forecasting in an industrial company, Dissertation thesis, VŠB-TU Ostrava, Ostrava, (2010).

[14] Deutsche Post AG Headquarters, Delivering Tomorrow, Logistics 2050 – A Scenario Study, Deutsche Post AG, Bonn, (2012).