Inventory Management Model Applying Cyclic Counting by ABC-AHP Classification in a Laboratory Equipment Distribution Company

Gianmarco Chavez Medina, Sebastian Espinoza Cabello, Yeimy Salvatierra Garcia, Grimaldo Quispe Santivanez, Elva Castaneda

Research output: Chapter in Book/ReportConference contributionpeer-review

Abstract

Inventory management is a vital aspect for distributors, since they need to maintain optimal inventory control. In this sense, this research work proposes an inventory management model applying the cycle counting method that seeks to minimize the inventory differences of a company that markets and distributes laboratory equipment. The proposed model is structured in four stages. In the first stage, a multi-criteria inventory classification was performed by applying the ABC-AHP analysis. In the second stage, the Holt method was applied as a forecasting technique. In the third stage, the inventory policies were established, being continuous review for class A and periodic review for classes B and C. In the last stage, cycle counting was developed as a method of inventory counting and indicators associated with the accuracy of the inventory register.

Original languageAmerican English
Title of host publicationProceedings - 2022 8th International Conference on Information Management, ICIM 2022
PublisherInstitute of Electrical and Electronics Engineers Inc.
Pages151-154
Number of pages4
ISBN (Electronic)9781665451741
DOIs
StateIndexed - 2022
Externally publishedYes
Event8th International Conference on Information Management, ICIM 2022 - Cambridge, United Kingdom
Duration: 25 Mar 202227 Mar 2022

Publication series

NameProceedings - 2022 8th International Conference on Information Management, ICIM 2022

Conference

Conference8th International Conference on Information Management, ICIM 2022
Country/TerritoryUnited Kingdom
CityCambridge
Period25/03/2227/03/22

Bibliographical note

Publisher Copyright:
© 2022 IEEE.

Keywords

  • ABC Analysis
  • Analytical Hierarchy Process (AHP)
  • cycle counting
  • inventory control
  • inventory management

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