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, 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 Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics) (Vol. 12133 LNCS, pp. 134–145). Springer. https://doi.org/10.1007/978-3-030-47679-3_12
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