Article ID: | iaor2004936 |
Country: | United Kingdom |
Volume: | 54 |
Issue: | 4 |
Start Page Number: | 350 |
End Page Number: | 361 |
Publication Date: | Apr 2003 |
Journal: | Journal of the Operational Research Society |
Authors: | Wang X.Z., Burgess T.F., Garca-Flores R. |
Keywords: | manufacturing industries |
A project to improve inventory management in a small UK chemical company is described. A research group comprising university academics and company managers for logistics and information technology examined current practices and analysed a database of historical records of business operations of the company. Based on the analysis, a scheme to categorise stock and set ordering polices to optimise inventory costs was developed. Some comments are made on process issues and the learning that took place.