INVENTORY MANAGEMENT IN THE SMART COMPANY INDUSTRY 4.0

1 GRABOWSKA Sandra
Institution:
1 Silesian University of Technology, Faculty of Materials Engineering and Metallurgy, Katowice, Poland, EU, sandra.grabowska@polsl.pl
Conference:
CLC 2018 - Carpathian Logistics Congress, Wellness Hotel Step, Prague, Czech Republic, EU, December 3 - 5, 2018
Proceedings:
Proceedings CLC 2018 - Carpathian Logistics Congress
Pages:
469-474
ISBN:
978-80-87294-88-8
ISSN:
2694-9318
Published:
18th April 2019
Proceedings of the conference were published in Web of Science.
Metrics:
384 views / 146 downloads
Abstract

Industry 4.0 is a concept that means the integration of intelligent machines, systems and introducing changes in production processes, aimed at increasing production efficiency and introducing the possibility of flexible changes in the assortment of products. 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 that along with the increase in production efficiency, the product is customized. In this trend, the customer decides about the product, personalizing it as much as possible in the best possible way. These are new challenges in the field of inventory management. The aim of the article is to present the method of calculating the optimal amount of the cost of a rotating stock in a production enterprise with an unevenly distributed demand.

Keywords: Industry 4.0, inventory management, Economic Size of Order, rotating stock

© This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.

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