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Personalisation of production in the era of Industry 4.0 as a challenge for inventory management in small and medium-sized production enterprises

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  • Sandra Grabowska

Abstract

Industry 4.0 is the result of the development of cyber-physical generation systems as a part of the fourth industrial revolution. Industry 4.0 sets new areas for change in the sphere of production and management but also influences various aspects of society. Industry 4.0 is focused on continuous improvement of production processes. This is a turnaround in the production control methodology, as the growing expectations of customers in the modern market cause, along with the increase in production efficiency, customisation of the product. In this trend, the customer decides about the product, personalising it as much as possible and in the best possible way. These are new challenges in the field of inventory management. The article aims to present a method of calculating the optimal amount of the cost of a rotating stock in a production enterprise with an unevenly distributed demand, which is the case with personalised orders.

Suggested Citation

  • Sandra Grabowska, 2020. "Personalisation of production in the era of Industry 4.0 as a challenge for inventory management in small and medium-sized production enterprises," Operations Research and Decisions, Wroclaw University of Science and Technology, Faculty of Management, vol. 30(2), pages 29-37.
  • Handle: RePEc:wut:journl:v:2:y:2020:p:29-37:id:1505
    DOI: 10.37190/ord200202
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    References listed on IDEAS

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    1. Sebastian Saniuk & Sandra Grabowska & Bożena Gajdzik, 2020. "Social Expectations and Market Changes in the Context of Developing the Industry 4.0 Concept," Sustainability, MDPI, vol. 12(4), pages 1-21, February.
    2. Fogliatto, Flavio S. & da Silveira, Giovani J.C. & Borenstein, Denis, 2012. "The mass customization decade: An updated review of the literature," International Journal of Production Economics, Elsevier, vol. 138(1), pages 14-25.
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