Please use this identifier to cite or link to this item: http://hdl.handle.net/10397/20290
Title: Knowledge-based inventory management in production logistics : a multi-agent approach
Authors: Cheung, CF 
Wang, WM
Kwok, SK
Keywords: Dynamic forecasting
Inventory management
Knowledge management
Multi-agent technology
Production logistics
Issue Date: 2005
Publisher: SAGE Publications
Source: Proceedings of the Institution of Mechanical Engineers. Part B, Journal of engineering manufacture, 2005, v. 219, no. 3, p. 299-307 How to cite?
Journal: Proceedings of the Institution of Mechanical Engineers. Part B, Journal of engineering manufacture 
Abstract: With the rapidly changing market conditions, an accurate and highly dynamic inventory management model is much needed for making an enterprise more predictable to the global competition. However, traditional inventory management in production logistics is inadequate in managing inventories with high fluctuation in demand and value. To establish effective inventory management strategy, this paper presents a knowledge-based inventory management system for active inventory replenishment based on multi-agent dynamic forecasting and knowledge-based system technologies. The system dynamically forecasts the fluctuation of the demand and updates price of its raw materials. Hence, appropriate inventory management strategies are derived to respond and adapt to the rapid market changes and the material requirement. A prototype system has been built and successfully trial implemented in a manufacturing enterprise.
URI: http://hdl.handle.net/10397/20290
ISSN: 0954-4054
EISSN: 2041-2975
DOI: 10.1243/095440505X28990
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