Research On Optimization Of Inventory Control In Casual Wear Enterprises

In recent years, many sportswear companies are facing the enormous pressure in excess inventory that limits the flow of funds and exposes many problems in produce, management, information technology and so on. They are looking for the problem in many aspects and put forward the solution. The purpose of the paper is studying the appropriate product demand forecasting models and inventory control methods through the casual wear product category management to improve efficiency of inventory management and reduce inventory cost.Firstly, the article introduces the definition, classification and development process in inventory control theory and point out the importance of inventory control and analyzes three important supply chain inventory management theory: Vendor Managed Inventory, Joint Inventory Management and CPFR.Secondly, the assay describes the reason for excess inventory by comparing and analysis of the related examples and the development of the inventory control in many companies.Thirdly,all of the sportswear are divided into classic casual wear product and popular casual wear product according to the ABC inventory analysis and are classified management.Then the assay built the Single exponential smoothing method to forecast the demand for classic casual wear product and grey prediction method for popular casual wear product. Based on the character of the two kinds of products, model is modified to fit the physical truth and improve the accuracy and application. The assay built the EOQ model and improved newsboy model to manage inventory according to the different product feature. At the same time, the existence and uniqueness of the optimal solution is proved.Finally, the inventory control model of M Garment Co.Ltd is analyzed. The problems of inventory control are noted. The corresponding inventory optimization approach to improve the inventory status is came up to provide some reference to the enterprise.