Indicative FSP

Improvement of the cost-effectiveness of inventory management

This project aimed at developing a sales forecast model based on a realistic statistical model, and at suggesting a model of inventory management that will minimize the total inventory costs, taking into account a number of factors including: the storage and handling costs, the economic order quantities (EOQ), the product mix to be ordered by each supplier as well as factors such as customer service levels and quality management. The purpose of the development of the above mentioned model is to assist the decision-maker in his/her decision-making process regarding inventory management. The suggested forecasting model, which was based on the implementation of appropriate forecasting software tools, aimed at providing Sales Management with as precise and accurate forecasts as possible.

Current Distinctions & Awards