Inventory management decision support system
Inherent uncertainties in demands and supply make it difficult for supply chains to achieve optimum inventory replenishment, resulting in loss of sales or keeping excessive inventories. An unkempt inventory can take up to one-third of an organization's annual investment. Therefore, in order to compete with invariably erratic demands, it is not only challenging to develop an intelligent system to maintain and control an optimum level of inventory but has also become mandatory. The two most important issues to address in inventory management are: how much to order and when to order. Owing to the importance of inventory management this research work presents an intelligent decision support system (DSS) for Inventory Analysis and Control utilizing technology management.
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