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http://dx.doi.org/10.5762/KAIS.2020.21.12.449

A Study on the Properties of Inventory for Efficient Inventory Control at Small-scale Manufacturing Company  

Kim, Ki Bum (Division of Safety & Industrial Engineering, Ulsan College)
Nam, Gon (Sammi Precision Co.,Ltd.)
Jeong, Yong Moon (Division of Safety & Industrial Engineering, Ulsan College)
Heo, Se min (Division of Safety & Industrial Engineering, Ulsan College)
Publication Information
Journal of the Korea Academia-Industrial cooperation Society / v.21, no.12, 2020 , pp. 449-455 More about this Journal
Abstract
Inventory management is one of the important business functions for manufacturing companies to determine market responsiveness. Customers' needs are diversifying, and the life cycle of products is decreasing, thus increasing the importance of inventory management. However, for small-scale manufacturing companies, investing in an IT system for inventory management is practically difficult. In this study, we introduce an inventory and warehouse management model that can be applied simply and quickly in small-scale manufacturing companies. Firstly, we introduce the concept of the properties of inventory and provide an analytical methodology based on the age and quantity of the inventory. Secondly, in accordance with the properties of the inventory, we introduce location management rules for warehouse operation. To apply the proposed model, we studied a wallpaper manufacturing company and verified the applicability of the proposed methods in the field. The proposed model can be applied immediately as part of on-site improvement activities by small-scale manufacturing companies, and inventory management activities are expected to reduce bad long-term inventory and further secure storage capacity for warehouses.
Keywords
Inventory Management; Warehouse Management; Property of Inventory; Location Management; Small-scale Manufacturing Company;
Citations & Related Records
Times Cited By KSCI : 1  (Citation Analysis)
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