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- W100748900 abstract "Inventory management nowadays is becoming an important part of the operationalareas in the world of companies. The reason is that a good inventory management canbring to the company an increase in operational and cost efficiency.In this thesis we focus our attention on improving the inventory management of fivedepartments at Radboud hospital. These departments are involved in a new projectthat consists in centralizing their inventory management. The main objective of thisresearch is to define a framework of inventory practices as well as to identify aninventory control system for the new centralized situation that improves cost-efficiencywithout compromising the health of patients.To address our study we first examine literature and guided by that, we perform aseries of pilot experiments.When managing inventory the theory suggests that a continuous review system isadvantageous in the sense that it helps to keep a closer and tighter control of items,since a continuous track of movements is performed. Furthermore this system requireslower safety stocks which results in less cost. Conversely a periodic review system ismore advantageous in detecting problems like spoilage and theft, since it is moreeffective in tracking real quantities. Moreover, in this kind of system many orders areplaced at the same time, which can be beneficial for the company regarding theefficiency on labor force when ordering, unpacking and placing the newreplenishments.The experiments executed in this research consist on applying the continuous reviewsystem and the periodic review system and comparing results with the current situationon inventory management at the five departments. We based our results andcomparisons on the parameters that involve each of the systems and on some KeyPerformance Indicators. The systems’ parameters are: the expected demand duringreplenishment cycle, the standard deviation of the demand during replenishment cycle,the safety stock, the reorder point for the continuous review approach and the orderup-to-level for the periodic approach. The KPIs are: the customer service level, and theholding costs. In fact, we compare various target customer service levels on the basisof their associated holding costs. The holding costs –also called carrying costs- includeaspects related to housing, material handling, labor used on receiving and warehousinginventories, investment, and spoilage and obsolescence. Our experiments confirm tosome level the advantages of the continuous review system." @default.
- W100748900 created "2016-06-24" @default.
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- W100748900 date "2011-01-01" @default.
- W100748900 modified "2023-09-27" @default.
- W100748900 title "Developing a framework of inventory managementpractices for the logistics centralization plan of five departments in UMC St. Radboud" @default.
- W100748900 hasPublicationYear "2011" @default.
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