Journal article
The analytic hierarchy process as applied to two types of inventory problems
Production and inventory management journal, Vol.35(1), pp.13-19
Mar 1994
Abstract
Many aspects of inventory management are difficult to quantify; thus many traditional models for inventory management are not complete and cannot be directly employed in practice. Managers who rely on traditional models risk ignoring important qualitative factors in their decisions, and managers who attempt to take into account these qualitative factors must use intuitive or ad hoc methods. The analytic hierarchy process (AHP), a technique for integrating qualitative and quantitative criteria in inventory management decision making, is presented. AHP is designed for multicriteria decisions, such as allocating order quantity among vendors and ABC analysis of inventory. A general description of the AHP and its underlying axioms is presented. The procedure is illustrated through 2 inventory management problems: 1. the allocation of order quantity among vendors, and 2. the incorporation of qualitative and quantitative criteria for ABC analysis of stockkeeping units in an inventory management system.
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Details
- Title
- The analytic hierarchy process as applied to two types of inventory problems
- Creators
- Fariborz Partovi - Drexel University, Decision Sciences (and Management Information Systems)Walter Hopton
- Publication Details
- Production and inventory management journal, Vol.35(1), pp.13-19
- Publisher
- American Production & Inventory Control Society, Inc
- Resource Type
- Journal article
- Language
- English
- Academic Unit
- Decision Sciences (and Management Information Systems)
- Identifiers
- 991021879750904721