Indian Journal of Science and Technology
Year: 2018, Volume: 11, Issue: 11, Pages: 1-11
Leonardo D. Bula1 , Boris Medina2 and Javier E. Sierra2
*Author for correspondence
Leonardo D. Bula,
Corporación Universitaria del Caribe, Sincelejo, Sucre, Colombia; [email protected]
Objectives: In the present work, the design of an Inventory Management Model is proposed, taking into account the Service Level, according to the criticality parameters in the scrap casting process in Steel Manufacturing. Methodology: The Inventory Management evaluation is carried out by measuring the Costs associated with this policy, making a comparison of the Inventory Management Models through a diagnosis to identify the products to be evaluated, the Level of Service required by the Client and the current Inventory Policy. Findings: The development of a Cost Analysis − which is based on the revision of current policies of the Company and an ABC classification of Inventories − generates a support tool to improve the Management of this System, providing support for the decisions that must be made at the tactical and operative levels, regarding opportunity in quantities and times of supply. Application/Improvements: The Inventory Management plays an important role in any organization, favoring the search of the balance between the costs, in order to make purchases required by the company and to control the Inventory Levels to reduce the costs of possession, associated with a Service Level that can be demanded by the Client or by the Process.
Keywords: Inventory Management, Inventory Policy, Steel Industry
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