Study and Analysis of the Slow Moving Inventory Using Second Order Runge–Kutta Method in a Printing and Packaging Industry

The objective of this paper is to present a simple method to reduce the slow moving inventory in industry. The materials management department procures paper boards of various sizes based on customer requests. To find out slow moving nature of material in inventory from the data collected from the industry theoretical ischolar_main cause analysis was carried out. Various practical reasons for slow moving items were identified. From the analysis, it is observed that the customer often go for order cancellation or specification change which leads to the generation of slow moving material. This paper describes a new approach based on modified Runge-Kutta method for identifying the slow moving items on weekly and monthly basis in a large scale printing and packaging industry.