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 proceedingConference contribution

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 languageEnglish
Title of host publicationComputer Information Systems and Industrial Management - 19th International Conference, CISIM 2020, Proceedings
EditorsKhalid Saeed, Jirí Dvorský
PublisherSpringer
Pages134-145
Number of pages12
ISBN (Print)9783030476786
DOIs
Publication statusPublished - 1 Jan 2020
Event19th International Conference on Computer Information Systems and Industrial Management Applications, CISIM 2020 - Bialystok, Poland
Duration: 16 Oct 202018 Oct 2020

Publication series

NameLecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)
Volume12133 LNCS
ISSN (Print)0302-9743
ISSN (Electronic)1611-3349

Conference

Conference19th International Conference on Computer Information Systems and Industrial Management Applications, CISIM 2020
CountryPoland
CityBialystok
Period16/10/2018/10/20

Keywords

  • Chemical industry
  • Fertilizers
  • GMOP
  • Inventory turnover
  • Optimization
  • Production planning

ASJC Scopus subject areas

  • Theoretical Computer Science
  • Computer Science(all)

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  • 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