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A multi-product model to manage inventory with multiple frequency delivery

Mitsel' A.A. Tomsk State University of Control Systems and Radioelectronics (TUSUR), Tomsk, Russian Federation ( maa@asu.tusur.ru )

Anpilogova K.A. National Research Tomsk Polytechnic University (TPU), Tomsk, Russian Federation ( Kseniya.anpilogova1994@gmail.com )

Journal: Economic Analysis: Theory and Practice, #12, 2019

Subject The article considers various mathematical models for managing stock inventories.
Objectives The aims include to obtain a multi-product model to manage inventories with random deliveries of multiple periodicity with minimum working capital, to analyze and compare it with the model by the Kulakovs, and to build models based on real data.
Methods Our own multi-product model to manage inventory with multiple periodicity is built assuming that at the beginning of the cycle only the first resource is fully purchased, the remaining resources are initially purchased in shares and then additionally purchased within the cycle. The volume of resource supply is not limited, the frequency of supply of all resources is multiple. The model rests on accounting equations at the initial point in time, and also at the time of additional purchase of resource deficit.
Results We constructed a multi-product model of stock management with an arbitrary volume of supplies and multiple periodicity. We compared it with the model by the Kulakovs and made a real-data model for the VostokAvtoTrans branch of TOO VostokTsvetMet (Republic of Kazakhstan).
Conclusions The offered model enables to save more than twenty percent of working capital as compared with the model by the Kulakovs.


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