| dc.description.abstract | According to Kantar's "FMCG Monitor FY 2023" report, in terms of the
macroeconomic picture, Vietnam ends 2023 with a GDP growth rate of 5.05%, lower
than the target of 6% set by the state. However, in the context of current global economic
challenges, this growth rate is still a significant achievement compared to other countries
in the region. However, when looking at the growth rate of the retail and service
industry, 2023 only recorded an increase of 9.6% over the same period last year. This
number is predicted to be lower, reaching only 9% in 2024. In addition, consumers are
willing to spend heavily on health care-related products. According to Kantar, 85% of
customers are willing to pay more for healthy products. It is stated that experiencing
continuous instability from the pandemic to the economy, consumers have gradually
changed their spending priorities. Health is given top priority, meanwhile, products that
do not directly affect the body will have their budgets cut. Precisely predicting demand
enables organizations to strategically manage production, inventory, and logistics,
resulting in decreased occurrences of stockouts and unnecessary manufacturing.
Companies can optimize inventory levels, save expenses, and improve customer service
by utilizing past data and other factors to forecast future demand. This study aims to
provide an optimal solution relating to minimizing total procurement process cost, with
relation to ordering cost, backorder cost, and holding cost, the inventory management
and procurement lead time will be taken under consideration. In order to account for the
association between numerous items and their integrated replenishment at regular
intervals, this paper suggests a MILP model for a periodic COP, a popular multi-item
replenishment approach. The input data of all the parameters had been taken directly
from the performance index of the company in 2023. | en_US |
