Authors : Sri Lakshmana Kumar and S. Nallusamy
Abstract: Inventory management system is one of the main parameter that is most desirable to be considered in manufacturing industries to satisfy the customer. The aim of this case study is to develop a multi bin inventory system instead of forward cover system and to compare with the usage of basic inventory policy. In lean manufacturing system the Kanban tool is one of the production strategies with minimal inventory to reduce the overall cost of the products. Multi bin system is a sign, flag or signal within the manufacturing process to trigger the production and supply of product as part of just in time in lean manufacturing. In addition, this research work has also tried in looking for a period of inventory maintenance management system, so that, it can find the minimum cost incurred or the period which could still be tolerable for tracking inventory management system. From the final results it was concluded that, all of our proposed formulae under this study are really fit for multi bin system. Also found that the periodic review policy has less inventory value as compared to continuous review policy and based on simulation result, the multi bin system could restrain the inventory cost as compared to forward cover system.
Sri Lakshmana Kumar and S. Nallusamy, 2017. Development of Multi Bin Inventory Maintenance Management System in Lean Manufacturing using Arena. Journal of Engineering and Applied Sciences, 12: 7971-7980.