Translated Abstract
With the development of economic globalization and the increasing of raw material prices, the competition between companies becomes increasingly fierce. In order to be competitive in the changable environments, enterprises must reduce their own costs.Inventory management is one of the important ways to reduce their costs. The effective inventory management can reduce stock costs, raise service level, inprove capital utilization rate, and reduce inventory loss.The spare parts inventory of the H group‘s F company was studied. And the actual problems of inventory management were improved. Firstly, anatomized the present situation on inventory management of F company, and found out the existing problems, such as spare parts was not assoeted, and the same strategy was used in different parts. The requirement of spare parts lacked scientificalness, which resulted in high spare parts inventory and low Inventory turnover ratio etc. Aiming at the problem, firstly, the spare parts were classified by using the improved ABC classification and each kind of spare parts were took different management strategies. Then through analyzing purchased history data of the F company, forecast model of spare parts was selected and constructed. The requirement of spare parts were forecasted by using this model to solve the problem that the uncertainty caused high spare parts inventory. Finally, F company used a Jointly Managed Inventory method, and to construct the corresponding management system. The company with suppliers to share information, share risk, share benefit and form a win-win situation.Through the improvement, the spare parts inventory turnover of F company was reduced, stock sluggish and scrap amount was significantly reduced. The requirement of spare parts becomed more accuracy and scalability from uncertainty and subjectivity. The new method of inventory management reduced inventory risk effectively, shorten the procurement lead time, reduced the inventory level, improved the service level. Through the actual data analysis, showed that the improved scheme is effective.
Translated Keyword
[ABC classification Forecast model Jointly Managed Inventory]
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