An Analysis of Inventory Management Practices in the Polymer Packaging Industry

• Published in: Lecture Notes in Networks and Systems
• Main Author: Danka A.; Lau T.Y.; Saad S.
• Format: Conference paper
• Language: English
• Published: Springer Science and Business Media Deutschland GmbH 2024
• Online Access: https://www.scopus.com/inward/record.uri?eid=2-s2.0-85189523516&doi=10.1007%2f978-3-031-53998-5_26&partnerID=40&md5=d2157150f5c2cc3bef3b55090e1e98d8

Effective inventory management is essential for ensuring the smooth operation of production processes and reducing costs associated with ordering and holding inventory. This paper presents a practical approach for inventory management of polymers in the packaging industry, aiming to address the key challenge faced by companies in this sector. The research, conducted through a qualitative research methodology and interviews with four key managerial personnel from a packaging company, provides valuable insights into current inventory management practices. It proposes a practical approach that includes implementing an inventory policy, studying cycle service level, assessing the impacts of demand forecasting, and considering suppliers’ lead times on inventory policy. By specifically focusing on the packaging industry and the unique challenges associated with managing inventory for polymers, this study contributes to the existing literature on inventory management in the manufacturing industry. The findings offer valuable insights for practitioners in the packaging industry seeking to enhance their inventory management strategies and processes. © The Author(s), under exclusive license to Springer Nature Switzerland AG 2024.