Multi-criteria inventory classification based on multi-criteria decision-making (Mcdm) technique

Mudassar Rauf, Zailin Guan, Shoaib Sarfraz, Jabir Mumtaz, Sulaiman Almaiman, Essam Shehab, Mirza Jahanzaib

Research output: Chapter in Book/Report/Conference proceedingConference contribution

1 Citation (Scopus)

Abstract

The efficiency of an organizational supply chain system depends upon several factors. One of the major factors is inventory management. Efficient inventory management can generate more profit. To have an efficient control of a huge amount of inventory items, the traditional approach is to classify the inventory into different groups. Inventory classification using ABC analysis is one of the most widely employed techniques in organizations. However, ABC analysis is based on only single measurement. It has been recognized that other criteria are also important in inventory classification. In this work, A Multi-Criteria Decision Making (MCDM) technique-based approach is proposed for Multi-Criteria Inventory Classification (MCIC). To cope with multiple criteria, use of TOPSIS, a MCDM technique, is proposed for the MCIC. The methodology is illustrated using a case example from literature. Comparisons of the proposed approach with some previous methods are illustrated based on a classical MCIC problem.

Original languageEnglish
Title of host publicationAdvances in Manufacturing Technology XXXII - Proceedings of the 16th International Conference on Manufacturing Research, ICMR 2018, incorporating the 33rd National Conference on Manufacturing Research
EditorsKeith Case, Peter Thorvald
PublisherIOS Press BV
Pages343-348
Number of pages6
Volume8
ISBN (Electronic)9781614994398
DOIs
Publication statusPublished - Jan 1 2018
Externally publishedYes
Event16th International Conference on Manufacturing Research, ICMR 2018 - Skovde, Sweden
Duration: Sep 11 2018Sep 13 2018

Conference

Conference16th International Conference on Manufacturing Research, ICMR 2018
CountrySweden
CitySkovde
Period9/11/189/13/18

Fingerprint

Multicriteria Decision-making
Multi-criteria
Decision making
Inventory Management
TOPSIS
Supply chains
Multiple Criteria
Profitability
Multicriteria decision-making
Supply Chain
Classification Problems
Profit
Classify
Methodology

Keywords

  • ABC classifications
  • Inventory classifications
  • MCDM
  • Supply chain
  • TOPSIS

ASJC Scopus subject areas

  • Computer Science Applications
  • Industrial and Manufacturing Engineering
  • Software
  • Algebra and Number Theory
  • Strategy and Management

Cite this

Rauf, M., Guan, Z., Sarfraz, S., Mumtaz, J., Almaiman, S., Shehab, E., & Jahanzaib, M. (2018). Multi-criteria inventory classification based on multi-criteria decision-making (Mcdm) technique. In K. Case, & P. Thorvald (Eds.), Advances in Manufacturing Technology XXXII - Proceedings of the 16th International Conference on Manufacturing Research, ICMR 2018, incorporating the 33rd National Conference on Manufacturing Research (Vol. 8, pp. 343-348). IOS Press BV. https://doi.org/10.3233/978-1-61499-902-7-343

Multi-criteria inventory classification based on multi-criteria decision-making (Mcdm) technique. / Rauf, Mudassar; Guan, Zailin; Sarfraz, Shoaib; Mumtaz, Jabir; Almaiman, Sulaiman; Shehab, Essam; Jahanzaib, Mirza.

Advances in Manufacturing Technology XXXII - Proceedings of the 16th International Conference on Manufacturing Research, ICMR 2018, incorporating the 33rd National Conference on Manufacturing Research. ed. / Keith Case; Peter Thorvald. Vol. 8 IOS Press BV, 2018. p. 343-348.

Research output: Chapter in Book/Report/Conference proceedingConference contribution

Rauf, M, Guan, Z, Sarfraz, S, Mumtaz, J, Almaiman, S, Shehab, E & Jahanzaib, M 2018, Multi-criteria inventory classification based on multi-criteria decision-making (Mcdm) technique. in K Case & P Thorvald (eds), Advances in Manufacturing Technology XXXII - Proceedings of the 16th International Conference on Manufacturing Research, ICMR 2018, incorporating the 33rd National Conference on Manufacturing Research. vol. 8, IOS Press BV, pp. 343-348, 16th International Conference on Manufacturing Research, ICMR 2018, Skovde, Sweden, 9/11/18. https://doi.org/10.3233/978-1-61499-902-7-343
Rauf M, Guan Z, Sarfraz S, Mumtaz J, Almaiman S, Shehab E et al. Multi-criteria inventory classification based on multi-criteria decision-making (Mcdm) technique. In Case K, Thorvald P, editors, Advances in Manufacturing Technology XXXII - Proceedings of the 16th International Conference on Manufacturing Research, ICMR 2018, incorporating the 33rd National Conference on Manufacturing Research. Vol. 8. IOS Press BV. 2018. p. 343-348 https://doi.org/10.3233/978-1-61499-902-7-343
Rauf, Mudassar ; Guan, Zailin ; Sarfraz, Shoaib ; Mumtaz, Jabir ; Almaiman, Sulaiman ; Shehab, Essam ; Jahanzaib, Mirza. / Multi-criteria inventory classification based on multi-criteria decision-making (Mcdm) technique. Advances in Manufacturing Technology XXXII - Proceedings of the 16th International Conference on Manufacturing Research, ICMR 2018, incorporating the 33rd National Conference on Manufacturing Research. editor / Keith Case ; Peter Thorvald. Vol. 8 IOS Press BV, 2018. pp. 343-348
@inproceedings{0205e294f5ca4b209616dc0403d582bb,
title = "Multi-criteria inventory classification based on multi-criteria decision-making (Mcdm) technique",
abstract = "The efficiency of an organizational supply chain system depends upon several factors. One of the major factors is inventory management. Efficient inventory management can generate more profit. To have an efficient control of a huge amount of inventory items, the traditional approach is to classify the inventory into different groups. Inventory classification using ABC analysis is one of the most widely employed techniques in organizations. However, ABC analysis is based on only single measurement. It has been recognized that other criteria are also important in inventory classification. In this work, A Multi-Criteria Decision Making (MCDM) technique-based approach is proposed for Multi-Criteria Inventory Classification (MCIC). To cope with multiple criteria, use of TOPSIS, a MCDM technique, is proposed for the MCIC. The methodology is illustrated using a case example from literature. Comparisons of the proposed approach with some previous methods are illustrated based on a classical MCIC problem.",
keywords = "ABC classifications, Inventory classifications, MCDM, Supply chain, TOPSIS",
author = "Mudassar Rauf and Zailin Guan and Shoaib Sarfraz and Jabir Mumtaz and Sulaiman Almaiman and Essam Shehab and Mirza Jahanzaib",
year = "2018",
month = "1",
day = "1",
doi = "10.3233/978-1-61499-902-7-343",
language = "English",
volume = "8",
pages = "343--348",
editor = "Keith Case and Peter Thorvald",
booktitle = "Advances in Manufacturing Technology XXXII - Proceedings of the 16th International Conference on Manufacturing Research, ICMR 2018, incorporating the 33rd National Conference on Manufacturing Research",
publisher = "IOS Press BV",

}

TY - GEN

T1 - Multi-criteria inventory classification based on multi-criteria decision-making (Mcdm) technique

AU - Rauf, Mudassar

AU - Guan, Zailin

AU - Sarfraz, Shoaib

AU - Mumtaz, Jabir

AU - Almaiman, Sulaiman

AU - Shehab, Essam

AU - Jahanzaib, Mirza

PY - 2018/1/1

Y1 - 2018/1/1

N2 - The efficiency of an organizational supply chain system depends upon several factors. One of the major factors is inventory management. Efficient inventory management can generate more profit. To have an efficient control of a huge amount of inventory items, the traditional approach is to classify the inventory into different groups. Inventory classification using ABC analysis is one of the most widely employed techniques in organizations. However, ABC analysis is based on only single measurement. It has been recognized that other criteria are also important in inventory classification. In this work, A Multi-Criteria Decision Making (MCDM) technique-based approach is proposed for Multi-Criteria Inventory Classification (MCIC). To cope with multiple criteria, use of TOPSIS, a MCDM technique, is proposed for the MCIC. The methodology is illustrated using a case example from literature. Comparisons of the proposed approach with some previous methods are illustrated based on a classical MCIC problem.

AB - The efficiency of an organizational supply chain system depends upon several factors. One of the major factors is inventory management. Efficient inventory management can generate more profit. To have an efficient control of a huge amount of inventory items, the traditional approach is to classify the inventory into different groups. Inventory classification using ABC analysis is one of the most widely employed techniques in organizations. However, ABC analysis is based on only single measurement. It has been recognized that other criteria are also important in inventory classification. In this work, A Multi-Criteria Decision Making (MCDM) technique-based approach is proposed for Multi-Criteria Inventory Classification (MCIC). To cope with multiple criteria, use of TOPSIS, a MCDM technique, is proposed for the MCIC. The methodology is illustrated using a case example from literature. Comparisons of the proposed approach with some previous methods are illustrated based on a classical MCIC problem.

KW - ABC classifications

KW - Inventory classifications

KW - MCDM

KW - Supply chain

KW - TOPSIS

UR - http://www.scopus.com/inward/record.url?scp=85057357673&partnerID=8YFLogxK

UR - http://www.scopus.com/inward/citedby.url?scp=85057357673&partnerID=8YFLogxK

U2 - 10.3233/978-1-61499-902-7-343

DO - 10.3233/978-1-61499-902-7-343

M3 - Conference contribution

VL - 8

SP - 343

EP - 348

BT - Advances in Manufacturing Technology XXXII - Proceedings of the 16th International Conference on Manufacturing Research, ICMR 2018, incorporating the 33rd National Conference on Manufacturing Research

A2 - Case, Keith

A2 - Thorvald, Peter

PB - IOS Press BV

ER -