The Impact of Inventory Management Innovations on Industry 4.0 Manufacturing Strategies

In general, the goal of inventory management mechanisms is to develop inventory ordering rules that ensure optimal inventory levels. By "optimal inventory level," we mean a level where stock is always available when needed, while storage costs are minimized. To achieve this, a thorough und...

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Published in:Tehnički glasnik Vol. 19; no. Si1; pp. 100 - 105
Main Authors: Nagy, Gábor, Szentesi, Szabolcs
Format: Journal Article Web Resource
Language:English
Published: Sveučilište Sjever 01.06.2025
University North
Subjects:
Industry 4.0
inventory control
logistics
ISSN:1846-6168, 1848-5588
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Abstract In general, the goal of inventory management mechanisms is to develop inventory ordering rules that ensure optimal inventory levels. By "optimal inventory level," we mean a level where stock is always available when needed, while storage costs are minimized. To achieve this, a thorough understanding of inventory-related costs is essential for determining the economical level. In addition to classical and widely used inventory management mechanisms, many companies also employ mixed or hybrid inventory strategies, which are based on the combination of elements from different systems. In Industry 4.0 manufacturing, determining the inventory levels of raw materials and semi finished products presents a significant challenge for logistics professionals. Developments in Logistics 4.0, as well as advanced hybrid inventory management mechanisms, can provide substantial support to professionals in optimizing inventory levels.
AbstractList In general, the goal of inventory management mechanisms is to develop inventory ordering rules that ensure optimal inventory levels. By "optimal inventory level," we mean a level where stock is always available when needed, while storage costs are minimized. To achieve this, a thorough understanding of inventory-related costs is essential for determining the economical level. In addition to classical and widely used inventory management mechanisms, many companies also employ mixed or hybrid inventory strategies, which are based on the combination of elements from different systems. In Industry 4.0 manufacturing, determining the inventory levels of raw materials and semi finished products presents a significant challenge for logistics professionals. Developments in Logistics 4.0, as well as advanced hybrid inventory management mechanisms, can provide substantial support to professionals in optimizing inventory levels.
Author Nagy, Gábor
Szentesi, Szabolcs
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Snippet In general, the goal of inventory management mechanisms is to develop inventory ordering rules that ensure optimal inventory levels. By "optimal inventory...
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Title The Impact of Inventory Management Innovations on Industry 4.0 Manufacturing Strategies
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