Inventory Management of Spare Parts in Andal Depot Eastern Railway India
Journal Title: International Journal for Research in Applied Science and Engineering Technology (IJRASET) - Year 2017, Vol 5, Issue 6
Abstract
although inventory management has significantly developed in the past years as a management discipline, its application is still minimal in the service industry and government. In contrast, it is an important tool for any company that is running a competitive business. The management of some companies considers inventory as an asset, not a liability. In this paper, an attempt has been made to enhance the profit through optimization of transportation costs and repair costs of inventory management system for andal depot in eastern railway using general algebraic modeling system (gams). It is found during the data collection period that andal depot or the entire indian railway depot is following the conventional methods for their analysis and management, they have not adopted any latest analysis tool for the depot management of spare parts. The raw data collected from the andal depot has been analyzed on the basis of their average annual consumption in terms of rupees through abc analysis. Spare parts items are classified under three classes namely a, b and c respectively. Out of 1468 items 89,157 and 1222 items falls under a, b and c class items respectively and criticality of the items in each class is discussed.
Authors and Affiliations
Dr. G. Nagasubramaniyan, Mr. Alok Kumar
Keywords
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