Selection of Inventory Policies by TOPSIS.
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MURTHY, E N OPERATIONs MANAGEMENTSummary: Inventory majorly contributes to total cost of a product. Profitability of any organization is directly dependent on its inventory level. Effective and efficient inventory policy is flexible to counter the dynamic customer demand. Selection of right inventory policy plays a vital role in Return on Investment of the organization. This paper presents a multi-criteria inventory selection model. A new Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS) has been employed for selection of inventory policies, which hitherto has not been applied in literature. The developed model is user-friendly and can be applied for a large number of alternatives.
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Main Library | Vol 17, No 2/ 5558980JA2 (Browse shelf(Opens below)) | Available | 5558980JA2 | |||||
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Main Library On Display | JOURNAL/OPERATION/Vol 17, No 2/5558980 (Browse shelf(Opens below)) | Vol 17, No 2 (20/06/2018) | Not for loan | May, 2018 | 5558980 |
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Inventory majorly contributes to total cost of a product. Profitability of any organization is directly dependent on its inventory level. Effective and efficient inventory policy is flexible to counter the dynamic customer demand. Selection of right inventory policy plays a vital role in Return on Investment of the organization. This paper presents a multi-criteria inventory selection model. A new Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS) has been employed for selection of inventory policies, which hitherto has not been applied in literature. The developed model is user-friendly and can be applied for a large number of alternatives.
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