Industry 4.0
Vol. 8 (2023), Issue 2, pg(s) 57-59

BUSINESS & “INDUSTRY 4.0”

Developing spreadsheet model for organizing replenishment process in small and medium enterprises

  • 1 Ruse University “Angel Kanchev”, Ruse, Bulgaria

Abstract

Spreadsheet software is commonly used in small and medium enterprises for a wide range of processes including analyzing the collected data, monitoring over the dynamics in data values, grouping and sorting, automating daily tasks, etc. Its automation features allow applying additional processing of the available data to make helpful suggestions for the managers. This paper describes the steps to develop a tool based on a spreadsheet model that could help managers in the procurement process. The main features of the presented model are: calculating safety stock based on a chosen rule; suggesting the reorder point and the latest reorder date for the articles; marking articles in different colors for the purposes of prioritization and grouping in one delivery from the same supplier. The consumption forecast is calculated using extrapolated historical data. The tool could be used by the procurement managers in order to automate their daily tasks on monitoring the stock levels. The model is adjustable and could include additional data sources (i.e. pre ordered quantities, etc.) to increase its the accuracy or exclude some of the data sources (i.e. historical data on the consumption), using only preprocessed indicators (i.e. mean consumption) with tradeoffs on its accuracy.

Keywords

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