Improvement of the Inventory Management System of the Production Company by Application of Modeling and Simulation Tools

Master degree project with the topic “Improvement of the Inventory Management System of the Production Company by Application of Modeling and Simulation Tools” consists of the introduction, business analysis of the production company including financial and organizational features, scientific approaches to the reengineering, practical application of the methodology and conclusion. The aim of the project is to develop methodological provisions for the improvement of spare parts management systems at a manufacturing enterprise in the industry as well as assessment of the effectiveness due to provided changes. The object of the study is inventory management system of the production enterprise OOO Delta. In this project the following problems were solved: • An economic and organizational analysis led to highlighting of the key disadvantages in the company’s workflow, and then the ways of improvement were found. • There were created the special solutions of inventory management system’s improvement, based on local and foreign scientific approaches. • The project itself was made, which included economic argumentations for the provided changes. The present study is a complete self-made qualifying project, including a set of scientific based organizational and economic developments connected with improving of the planning and inventory management of fast moving spare parts. Key words: planning and inventory management, simulation modeling, fast moving stock, logistics costs reduction.