A Generic Materials and Operations Planning Approach for Inventory Turnover Optimization in the Chemical Industry

Jairo R. Coronado-Hernández; Alfonso R. Romero-Conrado; Olmedo Ochoa-González; Humberto Quintero-Arango; Ximena Vargas; Gustavo Gatica

doi:10.1007/978-3-030-47679-3_12

A Generic Materials and Operations Planning Approach for Inventory Turnover Optimization in the Chemical Industry

Jairo R. Coronado-Hernández, Alfonso R. Romero-Conrado, Olmedo Ochoa-González, Humberto Quintero-Arango, Ximena Vargas, Gustavo Gatica

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

Abstract

Chemical industries usually involve continuous and large-scale production processes that require demanding inventory control systems. This paper aims to show the results of the implementation of a mixed-integer programming model (MIP) based on the Generic Materials and Operations Planning Problem (GMOP) for optimizing the inventory turnover in a fertilizer company. Results showed significant improvements for Inventory Turnover Ratios and overall costs when compared with an empirical production planning method.

Original language	English
Title of host publication	Computer Information Systems and Industrial Management - 19th International Conference, CISIM 2020, Proceedings
Editors	Khalid Saeed, Jirí Dvorský
Publisher	Springer
Pages	134-145
Number of pages	12
ISBN (Print)	9783030476786
DOIs	https://doi.org/10.1007/978-3-030-47679-3_12
Publication status	Published - 1 Jan 2020
Event	19th International Conference on Computer Information Systems and Industrial Management Applications, CISIM 2020 - Bialystok, Poland Duration: 16 Oct 2020 → 18 Oct 2020

Publication series

Name	Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)
Volume	12133 LNCS
ISSN (Print)	0302-9743
ISSN (Electronic)	1611-3349

Conference

Conference	19th International Conference on Computer Information Systems and Industrial Management Applications, CISIM 2020
Country/Territory	Poland
City	Bialystok
Period	16/10/20 → 18/10/20

Keywords

Chemical industry
Fertilizers
GMOP
Inventory turnover
Optimization
Production planning

ASJC Scopus subject areas

Theoretical Computer Science
General Computer Science

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

Access to Document

10.1007/978-3-030-47679-3_12

Cite this

Coronado-Hernández, J. R., Romero-Conrado, A. R., Ochoa-González, O., Quintero-Arango, H., Vargas, X., & Gatica, G. (2020). A Generic Materials and Operations Planning Approach for Inventory Turnover Optimization in the Chemical Industry. In K. Saeed, & J. Dvorský (Eds.), Computer Information Systems and Industrial Management - 19th International Conference, CISIM 2020, Proceedings (pp. 134-145). (Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics); Vol. 12133 LNCS). Springer. https://doi.org/10.1007/978-3-030-47679-3_12

Coronado-Hernández, Jairo R. ; Romero-Conrado, Alfonso R. ; Ochoa-González, Olmedo et al. / A Generic Materials and Operations Planning Approach for Inventory Turnover Optimization in the Chemical Industry. Computer Information Systems and Industrial Management - 19th International Conference, CISIM 2020, Proceedings. editor / Khalid Saeed ; Jirí Dvorský. Springer, 2020. pp. 134-145 (Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)).

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abstract = "Chemical industries usually involve continuous and large-scale production processes that require demanding inventory control systems. This paper aims to show the results of the implementation of a mixed-integer programming model (MIP) based on the Generic Materials and Operations Planning Problem (GMOP) for optimizing the inventory turnover in a fertilizer company. Results showed significant improvements for Inventory Turnover Ratios and overall costs when compared with an empirical production planning method.",

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Coronado-Hernández, JR, Romero-Conrado, AR, Ochoa-González, O, Quintero-Arango, H, Vargas, X & Gatica, G 2020, A Generic Materials and Operations Planning Approach for Inventory Turnover Optimization in the Chemical Industry. in K Saeed & J Dvorský (eds), Computer Information Systems and Industrial Management - 19th International Conference, CISIM 2020, Proceedings. Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics), vol. 12133 LNCS, Springer, pp. 134-145, 19th International Conference on Computer Information Systems and Industrial Management Applications, CISIM 2020, Bialystok, Poland, 16/10/20. https://doi.org/10.1007/978-3-030-47679-3_12

A Generic Materials and Operations Planning Approach for Inventory Turnover Optimization in the Chemical Industry. / Coronado-Hernández, Jairo R.; Romero-Conrado, Alfonso R.; Ochoa-González, Olmedo et al.
Computer Information Systems and Industrial Management - 19th International Conference, CISIM 2020, Proceedings. ed. / Khalid Saeed; Jirí Dvorský. Springer, 2020. p. 134-145 (Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics); Vol. 12133 LNCS).

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

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AU - Quintero-Arango, Humberto

AU - Vargas, Ximena

AU - Gatica, Gustavo

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Coronado-Hernández JR, Romero-Conrado AR, Ochoa-González O, Quintero-Arango H, Vargas X, Gatica G. A Generic Materials and Operations Planning Approach for Inventory Turnover Optimization in the Chemical Industry. In Saeed K, Dvorský J, editors, Computer Information Systems and Industrial Management - 19th International Conference, CISIM 2020, Proceedings. Springer. 2020. p. 134-145. (Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)). doi: 10.1007/978-3-030-47679-3_12

A Generic Materials and Operations Planning Approach for Inventory Turnover Optimization in the Chemical Industry

Abstract

Publication series

Conference

Keywords

ASJC Scopus subject areas

UN SDGs

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