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Model For Inventory Optimization In A Construction Enterprise

Author

Listed:
  • Rosen Nikolaev
  • Tanka Milkova

Abstract

One of the basic factors for ensuring high economic results and achieving the pre-set business goals is related to optimal inventory management in the logistics system. There are many science-based approaches in the specialized literature aimed at minimizing the costs associated with inventory in an organization. Most of these methods are universal in their nature and do not take into account the characteristic conditions of the activities in each particular organization. This paper proposes a modification of Wilson‘s classic inventory management model, which considers some of the specifics of inventory in a construction enterprise.

Suggested Citation

  • Rosen Nikolaev & Tanka Milkova, 2019. "Model For Inventory Optimization In A Construction Enterprise," INTERNATIONAL SCIENTIFIC AND PRACTICAL CONFERENCE "CONSTRUCTION ENTREPRENEURSHIP AND REAL PROPERTY", University of Economics - Varna, issue 1, pages 40-48.
    • Handle: RePEc:vrn:emccon:y:2019:i:1:p:40-48
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    File URL: http://conference.ue-varna.bg/emc/wp-content/uploads/2019/11/sbornik-dokladi_2019.pdf
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    More about this item

    Keywords

    Inventory management; Optimizing;

    JEL classification:

    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis

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