A study on single-item inventory control model for hazardous materials based on ARIMA

The cost of hazardous materials inventory is one of the most important factors should be considered when optimizing inventory control in supply chain management. A inventory control model based on ARIMA (Auto Regressive Integrated Moving Average) for hazardous materials is introduced with the characteristics of demand. Through iterative calculation, the optimal order point and the best order quantity is worked out to achieve the target of minimize the cost. In the end, through a concrete example, the usability of the model is verified.