Optimization Of Textile Inventory Control Strategy In Company A

Inventory control is an important part of enterprise operation.Controlling inventory in a scientific way can reduce costs and improve the competitiveness of enterprise.At the same time,the enterprise should undertake certain social responsibilities.It is beneficial to the sustainable development to take the inventory of remanufactured products into account while carrying out inventory control.Company A is one of the largest home furnishing retailers and textile products are its core competitive products.However,the accuracy of demand forecasting is low and the inventory level is high,which affects the revenue of company.Therefore,textile inventory control problems in company A urgently need to be solved.Taking company A as the research background,this paper discusses the textile inventory control problem of the company and puts forward optimization strategies.Firstly,this paper introduced the inventory control status,put forward the existing inventory problem in company A and analyzed the reasons.It was found that the demand characteristics of different textile products were different.Company A didn’t classify textile products,which led to the inaccurate demand forecasting and thus affected inventory control.Secondly,based on the demand characteristics of different products,the textiles are divided into ordinary and fashionable types.For ordinary textiles,the demand is stable and exponential smoothing method is adopted,while for fashionable textiles,the demand uncertainty is high and gray prediction method is adopted.The error test is carried out,and the accuracy is significantly improved compared with the history.Finally,based on the results of demand forecasting,the paper proposed the optimization strategy of inventory control.In order to reduce environmental pollution,A company began to recycle some products to suppliers for remanufacturing.Company A chooses the products suitable for remanufacturing in ordinary textiles for experiments.With the goal of maximizing profits,it constructs the inventory control model of products considering recycling and remanufacturing under certain demand,and determines the optimal order and recovery cycle and order quantity.The EOQ model is used to control the inventory of the products which are not suitable for remanufacturing in ordinary textiles.For fashion textiles,the(r,Q)inventory control strategy is adopted to determine the optimal order point and order quantity and reduce the inventory level.The research results of this paper have certain reference significance for solving the inventory control problem of company A.The first chapter is the introduction.Chapter two is a literature review.The third chapter analyzes the current situation of textile inventory control in company A and the existing problems;In the fourth chapter,according to the demand characteristics of different textiles,the demand forecasting model is constructed.The fifth chapter established the textile inventory optimization model;The sixth chapter is the conclusion and prospect.