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An inventory policy development for project-based procurement of rice mill equipment |
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| รหัสดีโอไอ | |
| Title | An inventory policy development for project-based procurement of rice mill equipment |
| Creator | Sasicha Namkeaw |
| Contributor | Warut Pannakkong, Advisor |
| Publisher | Thammasat University |
| Publication Year | 2568 |
| Keyword | Inventory optimization, Project-based procurement, Rice mill equipment, Decision support system, Order to stock, Order to produce, Cost minimization, Python optimization model |
| Abstract | Effective inventory management in project-based procurement is essential forreducing cost inefficiencies and improving operational responsiveness. This studydevelops a data-driven inventory policy for a rice mill equipment manufacturingbusiness operating under a make-to-order (MTO) model. The lack of a standardizedreplenishment strategy has led to delays and high costs.To address these issues, a mathematical optimization model was proposed todetermine the optimal ordering time, quantity, and mode—Order to Stock or Order toProduce—using historical demand and procurement data. The model accounts formaterial, ordering, holding, and shortage costs. Implemented in Python, the model wasvalidated by comparing the company’s current approach with the optimized strategy. |
