American Journal of Business and Operations Research
AJBOR
2692-2967
2770-0216
10.54216/AJBOR
https://www.americaspg.com/journals/show/2297
2018
2018
Strategic Optimization Technique for Achieving Sustainable Inventory Management in Medium-Sized Enterprises
College Of Business, Prince Sultan University, Saudi Arabia
Rhada
Boujlil
College Of Business, Prince Sultan University, Saudi Arabia
Saad
Alsunbul
Medium-sized enterprises face the dual challenge of optimizing inventory practices while aligning with sustainable objectives. Effective inventory management in medium-sized enterprises remains a critical factor in balancing operational efficiency and sustainability. This study addresses the challenge by investigating strategic optimization approaches for inventory control. The background explores the complexities of inventory management, emphasizing the need for enhanced techniques in medium-sized enterprises. The problem statement underscores the necessity of innovative methodologies to navigate the intricate landscape of inventory control and sustainability. To address these challenges, advanced methodology based on LightGBM is applied to forecast demand, assess vendor purchase costs, optimize stock levels, and evaluate predictive performance. Empirical findings, showcased through visualizations, revealed insights into the distribution of purchase costs among vendors, daily sales velocity by product, and comparisons between current and recommended stock levels for top products. Comparative analyses demonstrated LightGBM's superior predictive performance over baseline models, highlighting its potential as a valuable tool in decision-making for inventory management.
2024
2024
08
16
10.54216/AJBOR.110101
https://www.americaspg.com/articleinfo/1/show/2297