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Keywords: logistics, market, stocks, risk, loss
Abstract: In the area of production planning and material resources, manufacturing companies often find themselves in difficult situations. On one hand, pulses in the form of market incentives difficult to estimate come to the enterprise, on the other hand, every production entity tries to plan all production processes as realistically as possible. Therefore, two systems that are diametrically opposed come into conflict. The fundamental problem often arises in the area of inventory management. The production tries to satisfy the highly stochastic demand to the maximum extent, but it tries to manage the resources it uses by deterministic methods. In inventory management, one of the key roles is played by the variability in their consumption. If the majority of planned production orders is based on orders, or if expected consumption can be predicted with high probability, a range of exact logistics tools can be applied in inventory management. With increasing degree of variability in consumption, combined with long delivery times, however, the information value of these methods is significantly reduced. This article analyses the use of the concept of safety stock as a tool for correction of strong changes in the current market environment.
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1. Introduction
Methods for inventory management can be generally based on the principles of statistical analysis or simulations. Statistical methods are based on analysis of past consumption and production requirements, on the basis of which they try to predict optimum inventory levels. If the development of future consumption converges with the previous period, conclusions drawn in this way have a high information value. Simulation methods are normally used in situations when there is not enough relevant information, or significantly different future scenarios of development can be expected [1]. A simulation model then allows the evaluation of the consequences of serious situations. In real practice, mainly the statistical methods based on statistical analysis of historical data are applied. Therefore, scheduling and inventory management is often based on the analysis of data that may no longer be current. Conclusions drawn and defined forecasts may therefore have a limited validity. However, in the case of inventory management, we can correct any deviations using the model of safety stock.
2. Stocks in the manufacturing...