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Application of Multi-Criteria ABC Inventory Classification Approaches to Gearbox Manufacturing Industry
https://orcid.org/http://orcid.org/0000-0001-9130-6811
In multi-criteria ABC inventory classification, employing a compensatory approach allows an item with low scores in one or multiple essential criteria to be assigned to a higher category. Therefore, non-compensation must be checked in multi-criteria ABC analysis. This paper applies both compensatory and non-compensatory methods such as Grey Relational Analysis, Evaluation Based on Distance from Average Solution and ELimination Et Choix Traduisant la REalite for multi-criteria inventory classification. The proposed study employs a fuzzy analytic hierarchy processes to evaluate the significance of qualitative criteria and sub-criteria by allocating suitable weights to each of them. Weighting factors associated with various classification criteria are calculated using principal component analysis. Service-cost inventory is studied using empirical data from three multi-criteria inventory classification methods. A sensitivity analysis is conducted to assess the effect of standard deviation and holding cost price uncertainty on inventory performance. The integrated methodology is illustrated through a case study of gearbox manufacturing.
Application of Multi-Criteria ABC Inventory Classification Approaches to Gearbox Manufacturing Industry
https://orcid.org/http://orcid.org/0000-0001-9130-6811
In multi-criteria ABC inventory classification, employing a compensatory approach allows an item with low scores in one or multiple essential criteria to be assigned to a higher category. Therefore, non-compensation must be checked in multi-criteria ABC analysis. This paper applies both compensatory and non-compensatory methods such as Grey Relational Analysis, Evaluation Based on Distance from Average Solution and ELimination Et Choix Traduisant la REalite for multi-criteria inventory classification. The proposed study employs a fuzzy analytic hierarchy processes to evaluate the significance of qualitative criteria and sub-criteria by allocating suitable weights to each of them. Weighting factors associated with various classification criteria are calculated using principal component analysis. Service-cost inventory is studied using empirical data from three multi-criteria inventory classification methods. A sensitivity analysis is conducted to assess the effect of standard deviation and holding cost price uncertainty on inventory performance. The integrated methodology is illustrated through a case study of gearbox manufacturing.
Application of Multi-Criteria ABC Inventory Classification Approaches to Gearbox Manufacturing Industry
https://orcid.org/http://orcid.org/0000-0001-9130-6811
In multi-criteria ABC inventory classification, employing a compensatory approach allows an item with low scores in one or multiple essential criteria to be assigned to a higher category. Therefore, non-compensation must be checked in multi-criteria ABC analysis. This paper applies both compensatory and non-compensatory methods such as Grey Relational Analysis, Evaluation Based on Distance from Average Solution and ELimination Et Choix Traduisant la REalite for multi-criteria inventory classification. The proposed study employs a fuzzy analytic hierarchy processes to evaluate the significance of qualitative criteria and sub-criteria by allocating suitable weights to each of them. Weighting factors associated with various classification criteria are calculated using principal component analysis. Service-cost inventory is studied using empirical data from three multi-criteria inventory classification methods. A sensitivity analysis is conducted to assess the effect of standard deviation and holding cost price uncertainty on inventory performance. The integrated methodology is illustrated through a case study of gearbox manufacturing.
Application of Multi-Criteria ABC Inventory Classification Approaches to Gearbox Manufacturing Industry
J. Inst. Eng. India Ser. C
Shivade, Anand S. (author) / Sapkal, Sagar U. (author)
Journal of The Institution of Engineers (India): Series C ; 105 ; 271-297
2024-04-01
27 pages
Article (Journal)
Electronic Resource
English
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