Existing models for Inventory Management typically
overlook critical factors like item deterioration,
demand variability, and market fluctuations,
rendering them less effective in today's fast-paced
and unpredictable market environment. To overcome
these limitations, the research introduces a
comprehensive Dynamic Inventory Model (DIM).
DIM stands out for its ability to incorporate factors
such as amelioration, deterioration, and demand
variability, ensuring a more accurate and responsive
inventory management systems. The model is further
enhanced by the Stochastic Inventory Simulation
(SIS) for empirical validation, adding robustness to
the theoretical framework by simulating real-world
scenarios. The application of the Industry-Driven
Case Analysis (IDCA) provides empirical evidence
from various industries, validating the practical
applicability of DIM. Moreover, the Parameter
Sensitivity Assessment (PSA) identifies key variables
in inventory management, contributing to more
informed decision-making. The study also delves into
Market Dynamics Analysis (MDA), highlighting the
influence of market trends on inventory strategies. A
novel contribution of this research is the development
of the Market-Integrated Inventory Decision Support
System (MIIDSS
Authors and Affiliations
Sapna Tamrakar
Research Scholar, Eklavya University Damoh,Madhya Pradesh,India
Dr. Gopi Sao
Head, Department of Mathematics, Eklavya University,Damoh,Madhya Pradesh,India, Email: gopisao0104@gmail.com
Dr. kamlesh Kumart
Associate Professor,Department of Mathematics, Eklavya University Damoh,Madhya Pradesh,India
Inventory Management, Dynamic
Modeling, Stochastic Simulation, Decision Support
Systems, Market Analysis
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Publication Details
Published in : Volume 9 | Issue 1 | March- April 2024
Date of Publication : 24-03-2024
License: This work is licensed under a Creative Commons Attribution 4.0 International License.
Page(s) : 14-26
Manuscript Number : IJSMER202402
Publisher : Rems Publication
ISSN : 2455-6203
Cite This Article :
Sapna Tamrakar , Dr. Gopi Sao, Dr. Kamlesh Kumar " Advanced Inventory Management in Dynamic Market Environments ", International Journal of Science Management and Engineering Research (IJSMER), ISSN : 2455-6203, Volume 9 Issue 1, March- 2024 , pp. 14-26.
Available at doi : https://doi.org/ 
Journal URL : https://ejournal.rems.co.in/IJSMER202402 |
