Development of a Part Criticality Index in Inventory Management
Abstract
Due to uncertainties in demand, some parts might go out of stock during the manufacturing process leading to backorders if an out-of-stock part is critical. In order to reduce additional cost it is important to optimize restocking processes. To do so, the concept of Part Criticality is used to rank and prioritize parts involved in the production of different products. In this paper, we develop an algorithm to get the Compound Global Index which represents the part criticality.
Domains
Computer Science [cs]| Origin | Files produced by the author(s) |
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