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Developing ordering policy based on multiple inventory classification schemes

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Managing inventory is a complex and tedious task as there are a large number and variety of inventory present in an organization. This paper presents an approach for inventory control with special emphasis on ordering policies by comprehensively classifying the input materials (raw, packing materials and components) based on the various inventory schemes.

Authors proposed the simplest approach by using a multi-criteria decision making (MCDM) technique called Simple Additive Weighting (SAW) method. The proposed method is easy which can help derive financial benefits to the organization

Dr. Manisha Ketkar

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