Subject: Mechanical engineering
Year: 2023
Type: Article
Type: PeerReviewed
Title: Analysis of an inventory management model in a manufacturing process based on material requirements planning (MRP)
Author: Srebrenkoska, Sara
Author: Krstev, Dejan
Author: Cekerovska, Marija
Abstract: Optimal inventory management is crucial for the efficient operation of businesses, as it accounts for over 50% of the total invested capital. Inadequate inventory management can lead to high costs and large profits. Modern inventory management models focus on quantity and time, rather than costs, aiming for smaller and more frequent purchases within the economical quantity of purchase and national transport. The material requirement planning (MRP) model is one such model, focusing on quantity and time rather than costs. This approach is essential for businesses to make informed decisions regarding inventory decisions and maintain a competitive edge in the market. Keywords – Inventory Management, Operation, Time, Costs, Material Requirement Planning (MRP) Model
Publisher:
Relation: https://eprints.ugd.edu.mk/32374/
Identifier: oai:eprints.ugd.edu.mk:32374
Identifier: https://eprints.ugd.edu.mk/32374/1/Analysis%20of%20an%20inventory%20management%20model%20in%20a%20manufacturing%20process%20based%20on%20material%20requirements%20planning%20%28MRP%29%20%283%29.pdfIdentifier: Srebrenkoska, Sara and Krstev, Dejan and Cekerovska, Marija (2023) Analysis of an inventory management model in a manufacturing process based on material requirements planning (MRP). International Journal of Advanced Natural Sciences and Engineering Researches (IJANSER), 7 (9). pp. 91-93. ISSN 2980-0811
