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Waste Minimization by Inventory Management in High-Volume High-Complexity Manufacturing Organizations

Afy-Shararah, Mohamed ; Jagtap, Sandeep LU orcid ; Pagone, Emanuele and Salonitis, Konstantinos (2023) 18th Global Conference on Sustainable Manufacturing, GCSM 2022 In Lecture Notes in Mechanical Engineering p.375-382
Abstract

Organizations that manufacture high volumes of complex products (e.g., pharmaceutical, automotive, food) require specific strategies to ensure efficient processing of parts and a sustainable level of inventory by waste minimization. A review of literature sources revealed how inventory is classified and managed amongst organizations and industries and key challenges that current organizations face with existing inventory management systems. In this paper, these findings are compared against each other to determine best practices and potential shortfalls that should be addressed when trying to manage inventory holistically. A study is then conducted using qualitative data from 15 semi-structured interviews to answer key questions on... (More)

Organizations that manufacture high volumes of complex products (e.g., pharmaceutical, automotive, food) require specific strategies to ensure efficient processing of parts and a sustainable level of inventory by waste minimization. A review of literature sources revealed how inventory is classified and managed amongst organizations and industries and key challenges that current organizations face with existing inventory management systems. In this paper, these findings are compared against each other to determine best practices and potential shortfalls that should be addressed when trying to manage inventory holistically. A study is then conducted using qualitative data from 15 semi-structured interviews to answer key questions on inventory management based on the findings from the literature survey. Responses are inductively coded and analyzed to reveal the most important factors of inventory management and determine the most prominent themes. A graphical model to represent the findings is also presented. Inventory functional accountability, inventory classification, operational strategies, visual management of inventory data, and efficient processes were some of the key themes known to be critical for effective inventory management and thus illustrated in the graphical model.

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Please use this url to cite or link to this publication:
author
; ; and
publishing date
type
Chapter in Book/Report/Conference proceeding
publication status
published
subject
keywords
High Complexity, High Volume, Inventory Management, Sustainability
host publication
Manufacturing Driving Circular Economy : Proceedings of the 18th Global Conference on Sustainable Manufacturing - Proceedings of the 18th Global Conference on Sustainable Manufacturing
series title
Lecture Notes in Mechanical Engineering
editor
Kohl, Holger ; Seliger, Günther and Dietrich, Franz
pages
8 pages
publisher
Springer
conference name
18th Global Conference on Sustainable Manufacturing, GCSM 2022
conference location
Berlin, Germany
conference dates
2022-10-05 - 2022-10-07
external identifiers
  • scopus:85161386070
ISSN
2195-4356
2195-4364
ISBN
9783031288388
9783031288395
DOI
10.1007/978-3-031-28839-5_42
language
English
LU publication?
no
additional info
Publisher Copyright: © 2023, The Author(s).
id
40df6679-6294-479a-9707-7737eabd1c60
date added to LUP
2023-09-17 15:05:41
date last changed
2024-06-14 06:02:11
@inproceedings{40df6679-6294-479a-9707-7737eabd1c60,
  abstract     = {{<p>Organizations that manufacture high volumes of complex products (e.g., pharmaceutical, automotive, food) require specific strategies to ensure efficient processing of parts and a sustainable level of inventory by waste minimization. A review of literature sources revealed how inventory is classified and managed amongst organizations and industries and key challenges that current organizations face with existing inventory management systems. In this paper, these findings are compared against each other to determine best practices and potential shortfalls that should be addressed when trying to manage inventory holistically. A study is then conducted using qualitative data from 15 semi-structured interviews to answer key questions on inventory management based on the findings from the literature survey. Responses are inductively coded and analyzed to reveal the most important factors of inventory management and determine the most prominent themes. A graphical model to represent the findings is also presented. Inventory functional accountability, inventory classification, operational strategies, visual management of inventory data, and efficient processes were some of the key themes known to be critical for effective inventory management and thus illustrated in the graphical model.</p>}},
  author       = {{Afy-Shararah, Mohamed and Jagtap, Sandeep and Pagone, Emanuele and Salonitis, Konstantinos}},
  booktitle    = {{Manufacturing Driving Circular Economy : Proceedings of the 18th Global Conference on Sustainable Manufacturing}},
  editor       = {{Kohl, Holger and Seliger, Günther and Dietrich, Franz}},
  isbn         = {{9783031288388}},
  issn         = {{2195-4356}},
  keywords     = {{High Complexity; High Volume; Inventory Management; Sustainability}},
  language     = {{eng}},
  pages        = {{375--382}},
  publisher    = {{Springer}},
  series       = {{Lecture Notes in Mechanical Engineering}},
  title        = {{Waste Minimization by Inventory Management in High-Volume High-Complexity Manufacturing Organizations}},
  url          = {{http://dx.doi.org/10.1007/978-3-031-28839-5_42}},
  doi          = {{10.1007/978-3-031-28839-5_42}},
  year         = {{2023}},
}