A graphical implementation aid for inventory management of slow-moving items

A graphical implementation aid for inventory management of slow-moving items

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Article ID: iaor1992448
Country: United Kingdom
Volume: 42
Issue: 7
Start Page Number: 605
End Page Number: 608
Publication Date: Jul 1991
Journal: Journal of the Operational Research Society
Authors:
Keywords: heuristics
Abstract:

For low-usage (so-called C) items it makes sense to have rather low control costs, i.e. a simple control procedure. In this paper a very simple graphical implementation aid is developed for selecting either the reorder point in a continuous-review, reorder point, order quantity system or the order-up-to-level in a periodic-review, order-up-to-level system. The development is based upon a Poisson distribution of demand during a lead time (and review interval), which is likely to be appropriate for low-usage items.

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