University of Twente Student Theses
Getting the Balance Right: A Systematic and Data-Driven Approach to Optimize Raw Material Stock Levels
Thiel, B.J.F. van (2024) Getting the Balance Right: A Systematic and Data-Driven Approach to Optimize Raw Material Stock Levels.
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| Abstract: | This thesis focusses on reducing the high raw material inventory costs of Dunlop Protective Footwear. The company is located in Raalte and produces protective boots for varying industries. The thesis introduces a new control framework for their raw material inventory. Instead of relying solely on intuition and experience, the proposed (R,s,Q) policy uses weekly checks and adapts to both predictable and unpredictable material demands. It suggests specific approaches for different types of materials and includes a practical guide and digital tool for easier implementation. Early results show it can significantly lower costs by freeing up capital and reducing stock levels. The recommendation is to extend this new method to more raw materials, enhancing overall inventory control and cost savings. |
| Item Type: | Essay (Bachelor) |
| Clients: | Dunlop Protective Footwear, Raalte, Netherlands |
| Faculty: | BMS: Behavioural, Management and Social Sciences |
| Subject: | 50 technical science in general |
| Programme: | Industrial Engineering and Management BSc (56994) |
| Link to this item: | https://purl.utwente.nl/essays/98377 |
| Export this item as: | BibTeX EndNote HTML Citation Reference Manager |
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