Application of Different methods for product selection in Inventory management  -a literature review

International Journal of Innovative Research in Technology

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ISSN: 2349-6002 ESTD Year: 2014

UGC approved journal no 47859

Application of Different methods for product selection in Inventory management -a literature review
Author(s):
abhijeet goswami, ashish paharia, nitin yedmewar
Keywords:
inventory management, multi-criteria decision-making,AHP, TOPSIS,VIKOR
Abstract
Firms must develop and implement effective inventory policies that minimize costs and maximize profits in today's market conditions where extraordinary competition is experienced. Inventory has an important place in the total assets of manufacturing enterprises. Implementation of effective inventory management policies for this important item is crucial for the future of firms. Firms can meet customer needs more effectively by controlling fewer inventories that they classify according to their importance level. The aim of this paperis to conduct a systematic literature review of published articles in the application of different methods in inventory management decisions at the strategic, tactical and operational levels.
Article Details
Unique Paper ID: 149373 Publication Volume & Issue: Volume 6, Issue 12 Page(s): 122 - 127
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