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Robustness of the partitions in grouping multi-item inventories

Aggarwal, V (1984) Robustness of the partitions in grouping multi-item inventories. In: International Journal of Production Research, 22 (6). 923 -935.

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Abstract

A recent work obtained closed-form solutions to the.problem of optimally grouping a multi-item inventory into subgroups with a common order cycle per group, when the distribution by value of the inventory could be described by a Pareto function. This paper studies the sensitivity of the optimal subgroup boundaries so obtained. Closed-form expressions have been developed to find intervals for the subgroup boundaries for any given level of suboptimality. Graphs have been provided to aid the user in selecting a cost-effective level of aggregation and choosing appropriate subgroup boundaries for a whole range of inventory distributions. The results of sensitivity analyses demonstrate the availability of flexibility in the partition boundaries and the cost-effectiveness of any stock control system through three groups, and thus also provide a theoretical support to the intuitive ABC system of classifying the items.

Item Type: Journal Article
Additional Information: Copyright of this article belongs to Taylor and Francis Ltd.
Department/Centre: Division of Information Sciences > Management Studies
Date Deposited: 28 Jan 2010 11:41
Last Modified: 28 Jan 2010 11:41
URI: http://eprints.iisc.ernet.in/id/eprint/22326

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