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

3 Citations (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

Publication series

NameAdvances in Transdisciplinary Engineering
Volume8

Conference

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

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

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