Determining the Inventory Policy for Slow-Moving Items: A Case Study

UZUNOĞLU KOÇER U. Z., Tamer S.

World Congress on Engineering (WCE 2011), London, Canada, 6 - 08 July 2011, pp.139-143 identifier identifier

  • Publication Type: Conference Paper / Full Text
  • Volume:
  • City: London
  • Country: Canada
  • Page Numbers: pp.139-143
  • Keywords: bootstrapping, continuous review policy, reorder point, slow-moving inventory, INTERMITTENT DEMAND, STOCK CONTROL, PARTS, MANAGEMENT, SYSTEM
  • Dokuz Eylül University Affiliated: Yes

Abstract

Inventory control of slow-moving items is essential for many establishments since these items have a low lead time demand but a high price. Besides, as the demand pattern for slow-moving items is irregular, the estimation of the lead time demand is challenging. This study gives a comparison of the different methods of modelling the lead time demand, motivated by a case study at a retailing establishment. After modelling the lead time demand with different methods for the selected slow-moving items, optimum reorder points are obtained.