DYNAMIC MODEL FOR INVENTORY MANAGEMENT WITH VARIABLE CONSUMPTION RATE Cover Image

Динамичен модел за управление на запасите при променлив темп за потребление
DYNAMIC MODEL FOR INVENTORY MANAGEMENT WITH VARIABLE CONSUMPTION RATE

Author(s): Tanka Milkova
Subject(s): Economy, Business Economy / Management, Transport / Logistics
Published by: Икономически университет - Варна
Keywords: Inventory management; Wilson model

Summary/Abstract: In the theory of scientific inventory management many models are known that optimize the cost of inventory management in various circumstances, mainly related to the nature of inventory consumption. Some of the fundamental dynamic models are designed for the case of a steady rate of consumption and are well known as Wilson models. They have a few advantages, but also several restrictions in building the model, which means that they are not suitable for direct application in each practical situation. Although some modifications of these models are well known in the literature, there are still some directions in which they can be developed to be practically more useful. The aim of the present study is to construct a model of inventory management at a variable rate of consumption based on Wilson models. On the next step a method for solving this model and its specific approbation is proposed to achieve minimal total costs of inventory management.

  • Issue Year: 66/2022
  • Issue No: 4
  • Page Range: 376-392
  • Page Count: 17
  • Language: Bulgarian
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