Identification and Reduction of waste of Finished Goods inventory level by applying lean techniques in the warehouse
| Author(s) | : | K.R Pranoy Madhav, Dr. G S Prakash |
| Institution | : | P.G Student, Department of IEM, M S Ramaiah Institute of Technology, Bangalore, India |
| Published In | : | Vol. 3, Issue 6 — June 2016 |
| Page No. | : | 269-276 |
| Domain | : | Engineering |
| Type | : | Research Paper |
| ISSN (Online) | : | 2348-4470 |
| ISSN (Print) | : | 2348-6406 |
The present dissertation work was carried out at Xyz Company. The work was based on decreasing theinventory carried by the company in form of finished goods. Previously the inventory level of 37% of sales on the monthwas maintained for a part named 301 from line 1 in the hub 3production hub. After analysis we find the various wastesthat are present in the system and try to reduce the wastes in form of production and in form of waiting using techniquessuch as Simulation and Forecasting. Once we had forecasted demand and optimized replenishment time we find that theresulting simulation has a lesser inventory fluctuation and has reduced down from 37% to 27%.
K.R Pranoy Madhav, Dr. G S Prakash, “Identification and Reduction of waste of Finished Goods inventory level by applying lean techniques in the warehouse”, International Journal of Advance Engineering and Research Development (IJAERD), Vol. 3, Issue 6, pp. 269-276, June 2016.
