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Journal articles on the topic 'Inventory management'

Author: Grafiati

Published: 4 June 2021

Last updated: 15 February 2025

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1

Kim, Gil-Whan. "Evaluating Inventory Management Performance as Measured by Inventory Management Efficiency." International Academy of Global Business and Trade 19, no. 3 (June 30, 2023): 25–43. http://dx.doi.org/10.20294/jgbt.2023.19.3.25.

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Purpose - To measure inventory management performance, we aim to develop a new indicator from which the random variation factor is eliminated. To this end, we propose inventory management efficiency (IME) as a novel metric to which technical efficiency is applied. Design/Methodology/Approach - To properly define IME,we established an inventory turnover function for which the multiplicative model represents the relationship between inventory turnover and its determinants, such as gross margin, capital intensity, and sales surprise, as suggested by Gaur et al. (2005). In addition, based on empirical results and the form of the inventory turnover function, we examine in detail whether the inventory turnover function is well- defined. We then examined the validity of the research model with the inefficiency term, which is a one-sided error, and investigated whether the inventory management inefficiency term exists statistically. Findings - The inventory turnover function suggested in this study is a well-defined function, and IME is an appropriately defined indicator for measuring inventory management performance. Moreover, the actual inventory turnover is determined on average at a level that is less than the maximum inventory turnover expected from the determinants of inventory turnover. Research Implications - IME can be utilized as a newly applicable indicator for evaluating inventory management.

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2

Levin, Roger. "Inventory management." Journal of the American Dental Association 135, no. 6 (June 2004): 786–87. http://dx.doi.org/10.14219/jada.archive.2004.0278.

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3

Van Belle, D. "INVENTORY MANAGEMENT©." Acta Horticulturae, no. 1085 (June 2015): 333–34. http://dx.doi.org/10.17660/actahortic.2015.1085.61.

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4

Adedugba, Adebayo Tolulope, Olaleke O. Ogunnaike, Kingsley A. Adeyemo, Busola E. Kehinde, and Gbenga Oke. "Inventory Management Sustainability." International Journal of System Dynamics Applications 11, no. 1 (January 1, 2022): 1–14. http://dx.doi.org/10.4018/ijsda.302630.

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Inventory optimality is an option of energy utilization proportionality that can lessen carbon emanations and maximize profitability. This study proposes an inventory management model in which the stock volume is optimally decided to diminish energy per resource utilized in-other to reduce carbon emanations. This will likewise help in concluding renewal volume optimally. Consequently, the study utilized economic order quantity (EOQ) to decide inventory volumes in-other to decrease carbon emanations so as to augment profits of the inventory chain. Partial least square(PLS) was additionally utilized to examine the extent of inventory management frameworks on environmental sustainability. The study, therefore, shows its oddity and pertinency by utilizing economic order quantity(EOQ) and partial least square(PLS) to examine and optimize inventory respectively, as it gives a perspective of decreasing carbon emanations during inventory procedures.

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5

Agrahari, Amit, and Saket Jhunjhunwala. "Inventory Management Process." Journal of Cases on Information Technology 14, no. 1 (January 2012): 1–14. http://dx.doi.org/10.4018/jcit.2012010101.

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This case captures inventory management process in an Indian convenience store. Unlike retail stores in developed countries, Indian convenience stores are a special format of organized retailing, where retailers open multiple smaller stores in a town instead of one big centralised store. An excellent inventory management process is the key to make such stores perform well. This case describes inventory management problems faced by an Indian convenience store chain and asks students to propose solutions to these problems. This case illustrates how processes realities and their IT solutions differ in an emerging economy. Using inventory management process as an example, this teaching case can introduce students to the process and technological realities in an Indian context and differences between India and the West.

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Brinkman, Peter, Christine Seipel, and Alison Juers. "Prosthetic inventory management." Australian Health Review 24, no. 1 (2001): 120. http://dx.doi.org/10.1071/ah010120.

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An improved approach to inventory management in the Operating Theatre has been initiated at Princess AlexandraHospital. A Clinical Resource Co-ordinator (CRC) position was created to provide access to expertise in purchasingand materials management at the clinical level. A review of existing inventory management practices conducted bythe CRC revealed reporting inadequacies, lack of product specialisation and inadequate control over pricing, stocklevels and product usage. Through liaison with key stakeholders, a competitive tendering process was introduced whichresulted in a standing offer arrangement being installed for three specialty orthopaedic areas. Outcomes of thisarrangement are discussed. The importance of raising the area of prosthetic inventory management for debate in theAustralian literature is also highlighted.

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7

Butch, Suzanne H. "Blood Inventory Management." Laboratory Medicine 16, no. 1 (January 1, 1985): 17–20. http://dx.doi.org/10.1093/labmed/16.1.17.

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8

Chapman, J. F., C. Hyam, and R. Hick. "Blood inventory management." Vox Sanguinis 87, s2 (July 2004): 143–45. http://dx.doi.org/10.1111/j.1741-6892.2004.00472.x.

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9

Caron, Franco. "Integrated Inventory Management." International Journal of Project Management 19, no. 8 (November 2001): 485–86. http://dx.doi.org/10.1016/s0263-7863(00)00049-1.

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10

Voaden, G. W. "Inventory Management Demystified." Manufacturing Engineer 70, no. 4 (1991): 10. http://dx.doi.org/10.1049/me:19910070.

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11

Boucher, Thomas O., William E. Stuckey, and Layek Abdel-Malek. "An Inventory Model for International Inventory Management." Engineering Economist 30, no. 3 (January 1985): 245–68. http://dx.doi.org/10.1080/00137918508902910.

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12

Sánchez-Lozano, Gloria, and Esther Chávez-Miranda. "“Tratamiento de capacity management e inventory management en manuales de revenue management”." International Journal of World of Tourism 2, no. 4 (2015): 9–16. http://dx.doi.org/10.12795/ijwt.2015.i04.02.

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13

Kim, Gilwhan. "A Study on Inventory Management Efficiency to measure Inventory Management Performance." Korean Production and Operations Management Society 32, no. 1 (February 28, 2021): 47–67. http://dx.doi.org/10.32956/kopoms.2021.32.1.47.

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14

Mohopadkar, Jyoti Sanjeev, and Dipak Prakash Patil. "Applications of Inventory Management In Construction Industry." Journal of Advances and Scholarly Researches in Allied Education 15, no. 2 (April 1, 2018): 431–34. http://dx.doi.org/10.29070/15/56860.

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15

Panday, Rorim, and Dovina Navanti. "Inventory Management Evaluation and Inventory Forecast Using EOQ." Syntax Literate ; Jurnal Ilmiah Indonesia 6, no. 1 (February 28, 2021): 395. http://dx.doi.org/10.36418/syntax-literate.v6i1.2286.

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The fashion industry that is gamis in Indonesia is growing rapidly because the majority of the population is Moslem. Elzatta is a company that does business on Moslem clothing, one of its products is the gamis. The company is experiencing problems with stockpiling in warehouses, because of models that were not sold, as well as outdated models. With the accumulation of products in warehouses in 2017 and 2018, many products will be damaged. For this reason, the company runs a buy one get one business strategy and sells products at low prices. As a result, the company suffered a substantial loss. For this reason, it is necessary to evaluate the inventory management that has been carried out using the EOQ model. For 2019, it is necessary to plan the number of products to be sold and apply the EOQ model. The results of evaluations in 2017 and 2018, by using EOQ the company could save 64.78% for 2017 and 63.40% for 2018. Whereas for 2019, after forecasting the number of sales using the seasonal model, sales projections are similar to the number of sales in the previous years, so that the number of products needed for a single order is 1364 pcs.

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Andewar, Shrutika, Shivani Hiware, and Akash Bawane. "“Furniture Inventory Management System”." IJARCCE 8, no. 2 (February 28, 2019): 183–85. http://dx.doi.org/10.17148/ijarcce.2019.8232.

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17

Freeman, Jim, and C. D. J. Waters. "Inventory Control and Management." Journal of the Operational Research Society 44, no. 3 (March 1993): 316. http://dx.doi.org/10.2307/2584204.

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18

Marcikic, Aleksandra, and Boris Radovanov. "Simulation in inventory management." Perspectives of Innovations, Economics and Business 2, no. 2 (October 9, 2009): 98–100. http://dx.doi.org/10.15208/pieb.2009.68.

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19

Buxey, Geoff. "Reconstructing inventory management theory." International Journal of Operations & Production Management 26, no. 9 (September 2006): 996–1012. http://dx.doi.org/10.1108/01443570610682607.

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20

Freeman, Jim. "Inventory Control and Management." Journal of the Operational Research Society 44, no. 3 (March 1993): 316–17. http://dx.doi.org/10.1057/jors.1993.59.

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21

ERNST, RICARDO, and MORRIS A. COHEN. "DEALER INVENTORY MANAGEMENT SYSTEMS." IIE Transactions 25, no. 5 (September 1993): 36–49. http://dx.doi.org/10.1080/07408179308964314.

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22

Bonney, M. C. "Trends in inventory management." International Journal of Production Economics 35, no. 1-3 (June 1994): 107–14. http://dx.doi.org/10.1016/0925-5273(94)90070-1.

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23

Weinstein, Walter, and Robert E. Wenk. "Hospital Laboratory Inventory Management." Clinics in Laboratory Medicine 5, no. 4 (December 1985): 753–60. http://dx.doi.org/10.1016/s0272-2712(18)30844-8.

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24

Nefedov, N. "Inventory management systems simulation." Актуальные направления научных исследований XXI века: теория и практика 2, no. 4 (October 9, 2014): 178–81. http://dx.doi.org/10.12737/4734.

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25

Gelders, L. F. "Inventory control and management." European Journal of Operational Research 62, no. 3 (November 1992): 386–87. http://dx.doi.org/10.1016/0377-2217(92)90136-w.

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26

Gupta, Pandav, Saurav Dubey, Shivam Pandey, Siddharth Chauhan, and Neha Tyagi. "Inventory Management for Pharmacy." International Journal for Research in Applied Science and Engineering Technology 11, no. 5 (May 31, 2023): 852–55. http://dx.doi.org/10.22214/ijraset.2023.51618.

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Abstract: The project’s goal is to provide a facility for managing medicine stock. It is intended for all items found within the pharmacy. This project illustrates the design and implementation of that pharmacy, which today emphasizes management as the most crucial component. It simplifies stock management while also providing sophistication to the user. It enriched pharmaceutical sector management in India because pharmaceutical management is very important in our country for patient safety through pharmacy. The pharmaceutical supply system, for example, incorporates order placement, receiving, and storing of pharmaceutical products via inventory management software that is accessible via smartphones. The pharmacy's entire data set is analyzed, including medicine, pharmaceutical instruments, and inventory management software. We must consider a practical method for effectively managing your medical store, such as an inventory system. A well-managed chemist can provide significant benefits to your company. Proper drug storage is critical for keeping track of your inventory and avoiding shortages. As a result, you can ensure that your pharmaceutical business is long-term efficient and profitable.

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27

Fernandes, Benny. "Library Inventory Management System." International Scientific Journal of Engineering and Management 03, no. 04 (April 23, 2024): 1–9. http://dx.doi.org/10.55041/isjem01691.

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In today’s digital era efficient management of library inventories is imperative to streamline operation and improve user experience. This abstract introduces an innovative Library Inventory Management System utilizing Radio-Frequency Identification (RFID) technology to revolutionize the traditional library materials, enabling automated tracking, identification, and management of library resources. RFID readers strategically positioned throughout the library enable real time inventory updates, eliminating the need for manual scanning of individual items. The collected data is seamlessly integrated into a centralized database, facilitating accurate and instantaneous inventory checks. Key Words: RFID, database, RFID reader, tracking

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28

КОРОЛЕВА, Е. В. "PHARMACY ORGANIZATION INVENTORY MANAGEMENT." Экономика и предпринимательство, no. 11(160) (December 21, 2023): 1469–72. http://dx.doi.org/10.34925/eip.2023.160.11.283.

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В данной статье рассматриваются вопросы, связанные с оптимизацией процесса управления товарными запасами аптечной организации. В основе системы управления лежат аналитические процедуры совмещенного ABC– XYZ и VEN анализа. Представлены модели формирования товарных запасов по разным классификационным группам препаратов и предлагается формула закупок и создания резервов разных ассортиментных групп. This article discusses issues related to the optimization of the pharmacy organization's inventory management process. The control system is based on the analytical procedures of the combined ABC- XYZ and VEN analysis. Models of inventory formation for different classification groups of products are presented and a formula for purchasing and creating reserves of different assortment groups is proposed.

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29

Hariyanto, Hariyanto, and Riki Riki. "Bibliometrix Analysis: Management Inventory dan Supply Management." eCo-Fin 5, no. 3 (October 10, 2023): 223–36. http://dx.doi.org/10.32877/ef.v5i3.870.

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Inventory and Supply Management is an important aspect of efficient business operations. Both are interrelated and have an impact on achieving competitive advantage and customer satisfaction. In the case study of PT. Berkahjaya Sentosa Technique, Bibliometrix analysis is used to evaluate the performance of inventory and supply management of companies. The results show that effective inventory and supply management can improve operational efficiency and customer satisfaction. Bibliometrics is an analytical method used to map and analyze scientific literature in a particular field. In the context of inventory management and distribution control, bibliometrics can provide valuable insight into the development and focus of study in a particular field. The purpose of this study is to analyze and summarize scientific literature related to inventory management and distribution control using bibliometric methods. The method used is descriptive analysis using analysis tools such as three-field plots and tables of main information. The results show that scientific literature related to inventory management and distribution control has experienced a decline in annual growth in the period 2018-2023. However, the average citation per document shows that this literature is still very relevant and important in the context of inventory management and distribution control. This research provides valuable insights for researchers and practitioners in the field of inventory management and distribution control

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30

Promila, Promila. "Inventory Management in Sugar Mills - A Comparative Study." Indian Journal of Applied Research 1, no. 9 (October 1, 2011): 23–25. http://dx.doi.org/10.15373/2249555x/jun2012/10.

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31

Michalski, G. "Corporate inventory management with value maximization in view." Agricultural Economics (Zemědělská ekonomika) 54, No. 5 (June 13, 2008): 187–92. http://dx.doi.org/10.17221/251-agricecon.

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The basic financial purpose of the firm is maximization of its value. An inventory management should also contribute to the realization of this basic aim. Many current assets management models which we can find in the literature relating to financial management were constructed with the assumption of book profit maximization as the basic aim. These models could be lacking what relates to another aim, i.e., maximization of the enterprise value. This article presents the value based inventory management model modification.

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32

Sasi Bhushan, M. "Inventory Management: Performance Appraisal of Selected Paper Companies." International Journal of Science and Research (IJSR) 10, no. 6 (June 27, 2021): 825–29. https://doi.org/10.21275/sr21609053157.

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33

Laxman Chaudhary, Rahul. "Robotic Process Automation in Inventory Management in Healthcare." International Journal of Science and Research (IJSR) 10, no. 10 (October 5, 2021): 1630–31. http://dx.doi.org/10.21275/sr211012103757.

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34

May, Benjamin Isaac, Michael P. Atkinson, and Geraldo Ferrer. "Applying inventory classification to a large inventory management system." Journal of Operations and Supply Chain Management 10, no. 1 (June 28, 2017): 68. http://dx.doi.org/10.12660/joscmv10n1p68-86.

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35

Yang, Nan, and Renyu Zhang. "Dynamic Pricing and Inventory Management Under Inventory-Dependent Demand." Operations Research 62, no. 5 (October 2014): 1077–94. http://dx.doi.org/10.1287/opre.2014.1306.

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36

Michalski, Grzegorz. "Value based management approach in inventory management." Medjunarodni problemi 61, no. 1-2 (2009): 36–47. http://dx.doi.org/10.2298/medjp0902036m.

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The basic financial purpose of the firm is maximization of its value. A inventory management should also contribute to realization of this basic aim. Many current assets management models which we can find in the literature relating to financial management were constructed with the assumption of book profit maximization as basic aim. These models could lacking what relates to another aim, i.e., maximization of enterprise value. This article presents the value based inventory management model modification.

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37

Hartani, Tuti, Benedicta D. Muljani, Philipus Suryo Subandoro, and Eric Sulindra. "PEMBENAHAN SISTEM INVENTORI UKM SUMBER BERKAT MANDIRI, BLITAR, JAWA TIMUR." Jurnal Sekretari Universitas Pamulang 8, no. 2 (September 4, 2021): 119. http://dx.doi.org/10.32493/skr.v8i2.12963.

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ABSTRAKUKM Sumber Berkat Mandiri sebagai Mitra Tim Abdimas selama ini menggunakan “sistem manajemen warung” dalam menjalankan bisnis di mana hampir seluruh urusan dikerjakan secara perorangan. Manajemen tersebut menyebabkan kurang optimalnya sistem administrasi, terutama dalam hal pencatatan aset, berdampak pada over stock dan kerugian lain. Secara umum, permasalahan yang dihadapi mitra adalah belum adanya sistem administrasi terpadu untuk membantu pelaksanaan proses bisnis Mitra dan belum adanya sistem manajemen aset yang baik. Karena itu, tim abdimas membantu mitra untuk membenahi sistem inventori mitra, juga mengembangkan kemampuan manajerial Mitra melalui pengembangan keterampilan bagi Mitra dalam hal kepemimpinan, etika profesi, manajemen waktu, layanan prima, dan keterampilan interpersonal. Metode pelaksanaan kegiatan Abdimas ini dilakukan dalam 4 (empat) tahap. Tahap pertama survey untuk mengidentifikasi kebutuhan mitra; tahap kedua pemberian materi pelatihan; tahap ketiga penugasan kepada mitra terkait inventori barang yang dijual; tahap keempat sharing atas pelatihan yang telah didapatkan dan pendampingan penggunaan aplikasi inventory management. Luaran kegiatan pengabdian ini adalah buku panduan kerja yang dapat digunakan oleh mitra dalam mengimplentasikan aplikasi inventory management.Kata Kunci: UKM, pencatatan aset, aplikasi inventory management ABSTRACTA Small-Medium Enterprise unit, Sumber Berkat Mandiri, as the partner of this social and community service activity, has been using “sistem manajemen warung” in doing the business, in which almost all management activities are done in ‘one man show’ mode. This management style causes lacking in administration system optimality, especially in inventory record. The style has created over stock problem and other losses. In general, the partner’s major problem is the absence of integrated administration system for the business process and lacking of good inventory system. Therefore, the social and community service team helps the partner to implement an application for the inventory record and also develop the partner’s managerial skills through leadership training, professional ethics training, time management and service excellence trainings, as well as interpersonal skills training. The methods used in helping the partner are divided into 4 (four) phases. The first phase is doing a survey to get the partner’s needs; the second phase is giving the trainings; the third phase is asking the partner to record the inventory of all items in the partner’s warehouse; and the fourth phase is getting the partner’s feedback after receiving all the trainings and guiding the partner in implementing inventory management application. The result of this activity is a manual book for the partner to implement the inventory management application.Keywords: Small-medium enterprise unit, inventory record, inventory management application

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38

Naidu, K. Kishore. "INVENTORY MANAGEMENT IN FIRM PERFORMANCE." International Scientific Journal of Engineering and Management 03, no. 05 (May 25, 2024): 1–9. http://dx.doi.org/10.55041/isjem01875.

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Different organizations follow different type of inventory management practices; Inventory management practice is the type of activities that an organization follow in is the process of ordering, issuing, storing and trading inventory products held by that organization. Inventory management plays a key role in order management and acts as an integral part in supply chain management. Based on the existing literature, the present paper investigates types of inventory management practices followed by different form of organization. The main objective of the paper is to develop a conceptual framework of inventory management practices.

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39

Anusha, CH, Sri Valli Aluguri, Sahithi Maddiveni, Sri Tulasi Gayatri Kandibanda, and Bhavana Kotakonda. "RFID BASED INVENTORY MANAGEMENT SYSTEM." International Journal of Engineering Applied Sciences and Technology 8, no. 5 (September 1, 2023): 133–39. http://dx.doi.org/10.33564/ijeast.2023.v08i05.018.

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—An inventory management system is a software application that helps businesses efficiently manage their inventory. This project proposes the development of an inventory management system using hardware and software. The system aims to monitor the inventory levels of products in real-time and provide alerts when necessary. The system will be built using a NodeMCU (ESP8266) along with sensors such as RFID readers. Embedded C will be used to interact with the hardware and collect data from the sensors. Blynk IoT platform will be used to store inventory data and update it based on the sensor data. When the stock in the inventory is at zero, it shows a message in the app itself, along with sending an email to the given mail id. The proposed inventory management system can be useful for small businesses, warehouses, and other facilities that require real-time monitoring of inventory levels.

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Aluguri, Sri Valli, Sahithi Maddiveni, Sri Tulasi Gayatri Kandibanda, Bhavana Kotakonda, and Ms Ch Anusha. "RFID Based Inventory Management System." International Journal for Research in Applied Science and Engineering Technology 11, no. 10 (October 31, 2023): 1363–69. http://dx.doi.org/10.22214/ijraset.2023.56210.

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Abstract: An inventory management system is a software application that helps businesses efficiently manage their inventory. This project proposes the development of an inventory management system using hardware and software. The system aims to monitor the inventory levels of products in real-time and provide alerts when necessary. The system will be built using a NodeMCU (ESP8266) along with sensors such as RFID readers. Embedded C will be used to interact with the hardware and collect data from the sensors. Blynk IoT platform will be used to store inventory data and update it based on the sensor data. When the stock in the inventory is at zero, it shows a message in the app itself, along with sending an email to the given mail id. The proposed inventory management system can be useful for small businesses, warehouses, and other facilities that require real-time monitoring of inventory levels.

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41

Kakade, Saurabh Laxman. "Inventory Management in Pharmaceutical Industry." INTERANTIONAL JOURNAL OF SCIENTIFIC RESEARCH IN ENGINEERING AND MANAGEMENT 08, no. 04 (April 7, 2024): 1–5. http://dx.doi.org/10.55041/ijsrem30239.

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This research paper explores the intricacies of managing inventories of medicines in the pharmaceutical industry, focusing on meeting the healthcare needs of both humans and animals. Through a comprehensive review of existing literature and analysis of real-world case studies, this paper identifies key challenges, strategies, and best practices associated with pharmaceutical inventory management. The literature review reveals the complexities of inventory management in the pharmaceutical sector, including demand variability, regulatory compliance, and the need for precise temperature control for perishable medicines. Strategies such as economic order quantity (EOQ) and just-in-time (JIT) inventory management are discussed for managing normal inventories, while specialized approaches like cold chain management are highlighted for managing perishable inventories. Technological innovations, such as RFID technology and predictive analytics, are recognized for their potential to enhance inventory visibility and mitigate supply chain risks. Case studies provide valuable insights into successful inventory management practices within the pharmaceutical industry. Examples demonstrate the importance of collaboration among stakeholders, investment in advanced inventory management systems, and adherence to regulatory compliance measures. Furthermore, case studies underscore the significance of maintaining optimal inventory levels, minimizing stockouts, and ensuring medication safety and efficacy. This research paper contributes to the ongoing discourse on pharmaceutical supply chain optimization, patient-centric care delivery, and the pursuit of sustainable healthcare solutions. By synthesizing insights from literature and real-world examples, stakeholders can develop strategies to address challenges, enhance inventory management practices, and improve patient outcomes in the pharmaceutical industry. KEYWORDS Pharmaceutical Inventory Management, Medicine Inventory Control, Perishable Inventory, Normal Inventory, Supply Chain Optimization, Regulatory Compliance, Demand Variability, Cold Chain Management, RFID Technology, Patient Safety, Supply Chain Efficiency, Case Study Analysis, Healthcare Logistics, Sustainable Healthcare Solutions.

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42

Inegbedion, Henry, Sunday Eze, Abiola Asaleye, and Adedoyin Lawal. "Inventory Management and Organisational Efficiency." Journal of Social Sciences Research, no. 53 (March 10, 2019): 756–63. http://dx.doi.org/10.32861/jssr.53.756.763.

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The study examined inventory management and organisational efficiency. The classical inventory management techniques were applied to an organisation’s inventory system. A door sales company in Ilorin, Nigeria that volunteered information on the basis of anonymity was used and relevant data were collected on six types of doors; panel, flush, sliding, folding and as well as manual and electronic garage doors. The company had no scientific inventory management strategy but the EOQ, inventory cycle time and reorder level were computed for the six doors using the average values of the data obtained for 2011-2017. The results show that the company can minimise its total inventory cost by consciously adopting an inventory management policy of ordering 55 panel doors, 41 flush doors, 41 sliding glass doors, 18 folding doors, 18 manual garage doors and 8 electronic garage doors respectively every cycle time of 17, 14, 17, 30, 35 and 34 days respectively or by placing the above orders each time the inventory level of panel doors, flush doors, sliding glass doors, folding doors, manual garage doors and electronic garage doors fall to 32, 24, 24, 5, 3 and 2 respectively and thus minimise the total cost of inventory.

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43

Wang, Yun Rui. "Enterprise Inventory Management and Simulation." Advanced Materials Research 933 (May 2014): 874–78. http://dx.doi.org/10.4028/www.scientific.net/amr.933.874.

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Inventory is an important link in supply chain, according to characteristics and objectives of inventory control, the reasonable safety inventory, order point, the highest inventory and inventory strategy were determined based on historical sales data. Using Witness simulation software, the optimal strategy was selected from nine inventory strategies by running simulation model for one year. If goods shortage was allowing, the seventh schemes (72000,158100) was better ,the minimum total cost was 888158 yuan ; considering allowing a small amount of shortage, the cost of eighth schemes ( 82000,158100) was least of 1095167; the third scenarios (92000,138100) was selected if without shortage, and the minimum total cost was 1254909 yuan. This shows, the application of computer simulation to assist in the management of inventory is scientific and feasible, it can help enterprises to save the order and operation cost.

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RODRÍGUEZ, ANA, TANIA SABOGAL CÁCERES, and EVER FUENTES ROJAS. "SISTEMA DE GESTIÓN DE INVENTARIOS PARA COMPAÑÍAS DE HARDWARE - CASO DE ESTUDIO." Revista Ingeniería, Matemáticas y Ciencias de la Información 16, no. 8 (July 31, 2021): 27–36. http://dx.doi.org/10.21017/rimci.2021.v8.n16.a99.

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Some hardware assembly and marketing companies do not apply proper inventory management, causing failures in the product records, which can lead to shortages if there is an unexpected high demand, affecting the costs of ledgers and generating the need for an inventory management system. For this purpose, a methodological process was carried out, starting with the diagnosis, identifying the main factors that need to be improved concerning the management of merchandise, such as lack of inventory policies or reorder level, found through tools such as the SWOT, Ishikawa Diagram and Vester Matrix. Subsequently, an ABC classification was made, in which 1664 products are ordered and 118 of them belong to category A and applying goodness-of-fit tests. Then, the system is characterized and the mathematical models that adjust to the proposed conditions are selected: CEP without shortages and discount by suppliers, which is validated with a simulation. As a result of this process, the policy is established and a 95% improvement in the information quality is observed as a result. Variables part of the models are proposed and developed in the simulation and improve the system by 20% because they impact several products which are the most essential for the company.

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Anjani, Andan, and Adirizal Nizar. "Inventory management and cost efficiency." International Journal of Research in Business and Social Science (2147- 4478) 10, no. 2 (March 21, 2021): 217–27. http://dx.doi.org/10.20525/ijrbs.v10i2.1042.

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This research aims to observe current inventory management applied by one of the medical equipment distributors specializing in eye health devices, and provide recommendations for an optimal inventory management system to achieve cost efficiency afterward. The method used in this research is quantitative, focusing on processing and analyzing numerical data obtained from the company to calculate safety stock and the number of orders. In addition, ABC classification is also used in data processing to group items based on their value. Items belonging to class A (having a value of 80% for the company) will be used in the data processing. The next step is to conduct forecasting simulations for demand forecasts. The results of the forecast will be used for calculating the safety stock and order quantity. The output from the results of data processing and analysis in this study shows 67 items included in class A, which will then be processed using Minitab software for forecasting. Based on comparing the four forecasting methods, the one with the lowest error value is Trend Analysis. If the company can apply the storage method according to the fixed-time period model calculation, there is a potential savings of US $ 717,133 or 63% of the total overstock

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Perlman, Yael, and Ilya Levner. "Perishable Inventory Management in Healthcare." Journal of Service Science and Management 07, no. 01 (2014): 11–17. http://dx.doi.org/10.4236/jssm.2014.71002.

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Mascarenhas, Melancy, Anand Lamani, Chandrakant Matkar, Amogh Ramchandra, and Anush Kotharkar. "An Automated Inventory Management System." International Journal of Computer Applications 176, no. 14 (April 15, 2020): 21–23. http://dx.doi.org/10.5120/ijca2020920064.

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Hassan, Ummi Kalsom, Shahreen Kasim, Rohayanti Hassan, Hairulnizam Mahdin, Azizul Azhar Ramli,, Mohd Farhan Md Fudzee,, and Mohamad Aizi Salamat. "MOST STATIONERY INVENTORY MANAGEMENT SYSTEM." Acta Electronica Malaysia 2, no. 2 (January 1, 2018): 10–13. http://dx.doi.org/10.26480/aem.02.2018.10.13.

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Japundzic, Milos, and Dragan Jocic. "(s,S) inventory management models." Skola biznisa, no. 2 (2012): 108–18. http://dx.doi.org/10.5937/skolbiz1202108j.

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Slobodnyak, Ilya A., and Polina V. Antipina. "INVENTORY MANAGEMENT USING AGGREGATION MATRICES." EKONOMIKA I UPRAVLENIE: PROBLEMY, RESHENIYA 9/2, no. 129 (2022): 35–40. http://dx.doi.org/10.36871/ek.up.p.r.2022.09.02.005.

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The article presents a detailed description of the algorithm for solving the problem of optimizing the level of inventory using combination matrices. Based on the available information about the needs for each type of material and production resources and their consumption rates, it is proposed to systematize the relevant information in a special form table, with the definition of the surplus or shortage of stocks of each type. Modification of the basic approach by introducing additional variables into the initial model is also proposed. The possibility of algorithmizing of the calculations carried out and their importance in making decisions on inventory management is demonstrated.

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