Management of multicriteria inventory classification

Authors:
Benito E. Flores;David L. Olson;V. K. Dorai
Affiliations:
Department of Business Analysis and Research College of Business Administration, Texas A&M University College Station, Texas 77843, USA;Department of Business Analysis and Research College of Business Administration, Texas A&M University College Station, Texas 77843, USA;Department of Business Analysis and Research College of Business Administration, Texas A&M University College Station, Texas 77843, USA
Venue:
Mathematical and Computer Modelling: An International Journal
Year:
1992

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Abstract

The most common method that materials managers use for classifying inventory items for planning and control purposes is the annual-dollar-usage ranking method (ABC classification). Recently, it has been suggested that multiple criteria ABC classification can provide a more comprehensive managerial approach, allowing consideration of other criteria such as lead time and criticality. This paper proposes the use of the Analytical Hierarchy Process (AHP) to reduce these multiple criteria to a univariate and consistent measure to consider multiple inventory management objectives.