International Journal of Inventory Research最新文献

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How consumer demand affects order quantity in practice: an empirical study on inventory management decisions in fashion retailing 消费者需求在实践中如何影响订货量:时尚零售业库存管理决策的实证研究
International Journal of Inventory Research Pub Date : 2016-11-22 DOI: 10.1504/IJIR.2016.10001217
H. Chan, T. Choi, Yee Man Ho
{"title":"How consumer demand affects order quantity in practice: an empirical study on inventory management decisions in fashion retailing","authors":"H. Chan, T. Choi, Yee Man Ho","doi":"10.1504/IJIR.2016.10001217","DOIUrl":"https://doi.org/10.1504/IJIR.2016.10001217","url":null,"abstract":"This study investigates the real inventory decisions in a fashion retailing company through a real sales data-based empirical study. Specifically, we collect a nine months sample sales dataset of 189 fashion product items from a Hong Kong-based fashion retailing company, and statistically verify relationships between the order quantity and several critical factors. Our findings reveal that: 1) the mean of demand, the standard variation of demand, and the profit margin of the fashion items are statistical significantly correlated with the ordering quantity decision of the case company; 2) there is no statistically significant difference on the order deviation from the mean of demand between the high and low profit margin products. We explain these findings by relating them to the analytical models under the newsvendor problem setting. Implications and important insights are discussed.","PeriodicalId":113309,"journal":{"name":"International Journal of Inventory Research","volume":"60 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-11-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116710228","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 2
A heuristic optimisation algorithm for two-echelon (R, Q) inventory systems with non-identical retailers 具有非相同零售商的两层(R, Q)库存系统的启发式优化算法
International Journal of Inventory Research Pub Date : 2016-11-22 DOI: 10.1504/IJIR.2016.10001214
Mohammad H. Al-Rifai, M. Rossetti, A. Sheikhzadeh
{"title":"A heuristic optimisation algorithm for two-echelon (R, Q) inventory systems with non-identical retailers","authors":"Mohammad H. Al-Rifai, M. Rossetti, A. Sheikhzadeh","doi":"10.1504/IJIR.2016.10001214","DOIUrl":"https://doi.org/10.1504/IJIR.2016.10001214","url":null,"abstract":"This paper describes an optimisation algorithm that minimises the total inventory investment of a one warehouse and an m non-identical retailer's inventory system using reorder point and order quantity (R, Q) policies. The inventory system is subject to constraints on the average ordering frequency and number of backorders. The system is decomposed by echelon and location, and analytical expressions are derived for the inventory policy parameters. Sets of computational experiments illustrate the effectiveness of the heuristic over a wide range of problem instances. Experimental results indicate that the heuristic optimisation algorithm is an effective procedure for optimising the sampled inventory systems regarding both the quality of the solutions and the computational times. This research provides approximations and a heuristic optimisation procedure for a two-echelon inventory system for the non-identical retailer's case.","PeriodicalId":113309,"journal":{"name":"International Journal of Inventory Research","volume":"35 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-11-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114707444","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 6
The effect of smoothing filters on supply chain performance 平滑滤波器对供应链绩效的影响
International Journal of Inventory Research Pub Date : 2016-11-22 DOI: 10.1504/IJIR.2016.10001163
A. S. White, Michael Censlive
{"title":"The effect of smoothing filters on supply chain performance","authors":"A. S. White, Michael Censlive","doi":"10.1504/IJIR.2016.10001163","DOIUrl":"https://doi.org/10.1504/IJIR.2016.10001163","url":null,"abstract":"This paper examines how the form of the sales smoothing function affects the performance of a supply chain. Modelling uses Laplace and z transforms with Simulink™ implementations of the equations for an APVIOBPCS inventory system. Inventory stock-out depends on the delay function representation and strongly on the sales smoothing function. The models presented here use a control-theoretic formulation to determine sales smoothing functions, which can be designed to substantially reduce the inventory response to changing sales. The analysis shows the effect of replacing the traditional moving average technique (EWMA) with one based on control theory can result in a much lower stock-out value for a shorter time improving both bullwhip effect and customer service levels. Performance of this filter in an EPOS enabled supply chain is sufficient to reduce the stock-out for the retailer by 50% with a substantial reduction for other members of the chain and almost eliminating bullwhip.","PeriodicalId":113309,"journal":{"name":"International Journal of Inventory Research","volume":"78 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-11-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126310864","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Inventory types and their effects on sales 库存类型及其对销售的影响
International Journal of Inventory Research Pub Date : 2016-11-22 DOI: 10.1504/IJIR.2016.10001176
Bowon Kim, Sunghak Kim
{"title":"Inventory types and their effects on sales","authors":"Bowon Kim, Sunghak Kim","doi":"10.1504/IJIR.2016.10001176","DOIUrl":"https://doi.org/10.1504/IJIR.2016.10001176","url":null,"abstract":"Inventory's primary role is to buffer against uncertainty. That is, the firm holds inventory to cope with the market demand uncertainty. There is another rather negative aspect of inventory: an excessive inventory reduces firm's responsiveness to the changing market and thus has an adverse effect on the sales. To study whether the inventory's position in the supply chain affects the firm's sales differently, we look into three types of inventory separately, i.e., raw material, work-in-process, and finished goods inventory. We analyse the panel data, which consist of 4,624 firm-year observations for 272 manufacturing firms in twenty-one different industries listed in the Korean stock market indices from 1996 to 2012, and conclude as follows. For each inventory type, there is a positive relationship between current inventory and current sales. On the contrary, controlling the current inventory, the analysis shows the relationship between previous year's inventory and current sales is negative. By showing that the relationship between inventory and sales is valid for each of the three different types of inventory, we are making a contribution to the literature, where most studies focused on the role of finished goods inventory in enhancing the firm's performance.","PeriodicalId":113309,"journal":{"name":"International Journal of Inventory Research","volume":"18 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-11-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122782496","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 5
Analysing a fuzzy integrated inventory-production-distribution planning problem with maximum NPV of cash flows in a closed-loop supply chain 分析闭环供应链中现金流NPV最大的模糊库存-生产-配送综合规划问题
International Journal of Inventory Research Pub Date : 2016-07-02 DOI: 10.1504/IJIR.2016.077449
A. H. Nobil, A. Taleizadeh
{"title":"Analysing a fuzzy integrated inventory-production-distribution planning problem with maximum NPV of cash flows in a closed-loop supply chain","authors":"A. H. Nobil, A. Taleizadeh","doi":"10.1504/IJIR.2016.077449","DOIUrl":"https://doi.org/10.1504/IJIR.2016.077449","url":null,"abstract":"This research presents an integrated inventory-production-distribution planning model to maximise the net present value (NPV) of cash flows under fuzzy environment. The proposed model for a closed-loop supply chain (CLSC) including multiple suppliers, several manufacturing plants, and some customers is proposed. The objective function coefficients and customers' demand are assumed as the triangular fuzzy numbers. This study attempts to reduce the chain total costs including raw material procurement, production, warehousing, transportation, and reworking costs. So, the aim of this research is to determine the order quantity of raw material and production quantity of product, such that the NPV is maximised. The key feature of this work is presenting a normative framework based on the fuzzy decision-making approach to solve the production-distribution programming problems using NPV of cash flows for a three-echelon CLSC under uncertain/unknown environment. Moreover, a new solution method based on diffuzification by linear programming (LP) method is developed. At the end, performance of the proposed approach is examined using a hypothetical numerical example and also findings of the proposed model are discussed.","PeriodicalId":113309,"journal":{"name":"International Journal of Inventory Research","volume":"498 4","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-07-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"113986432","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 11
Lead time uncertainty and supply chain coordination in lost sales inventory models 销售损失库存模型中的交货时间不确定性和供应链协调
International Journal of Inventory Research Pub Date : 2016-07-02 DOI: 10.1504/IJIR.2016.077453
B. Cobb
{"title":"Lead time uncertainty and supply chain coordination in lost sales inventory models","authors":"B. Cobb","doi":"10.1504/IJIR.2016.077453","DOIUrl":"https://doi.org/10.1504/IJIR.2016.077453","url":null,"abstract":"The effects of lead time uncertainty on optimal inventory policies in a two-echelon supply chain operating under continuous review inventory assumptions are examined. In this system, the buyer selects an inventory order quantity and reorder point to maximise its profits, while the seller selects an order quantity from its external supplier that is an integer multiple of the buyer's order quantity; unsatisfied demand is accounted for as lost sales and may also incur a penalty cost representing lost customer goodwill. Normally distributed demand per unit time is assumed and lead time can follow any discrete probability distribution, resulting in a mixture of Gaussians distribution for lead time demand. Examples where lead time is discrete and not well-approximated by a continuous distribution are examined, and use of the mixture of Gaussians approach versus a single normal distribution for lead time demand in these cases reduces supply chain costs by between 12% and 13%.","PeriodicalId":113309,"journal":{"name":"International Journal of Inventory Research","volume":"15 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-07-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128153461","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 5
Coordinating inventory decisions in a two-echelon supply chain through the target sales rebate contract 通过目标销售返利合同协调两级供应链的库存决策
International Journal of Inventory Research Pub Date : 2016-07-02 DOI: 10.1504/IJIR.2016.077454
J. Heydari, Javad Asl-Najafi
{"title":"Coordinating inventory decisions in a two-echelon supply chain through the target sales rebate contract","authors":"J. Heydari, Javad Asl-Najafi","doi":"10.1504/IJIR.2016.077454","DOIUrl":"https://doi.org/10.1504/IJIR.2016.077454","url":null,"abstract":"In this paper, a model in the context of a decentralised two-echelon supply chain (SC) with a single supplier and a single retailer confronting an uncertain market demand is developed. The proposed model seeks to coordinate the decisions related to the retailer's order quantity that increases the profit of the decentralised SC as much as the centralised one. With regard to the considered SC features, sales rebate contract is applied and a new approach for determining the contract's parameters including sales target level and rebate amount is developed which is based on the retailer and supplier viewpoints. Furthermore, applicability of the proposed model is evaluated via some numerical examples and the results are analysed in depth. Finally, some sensitivity analyses are conducted on demand variations. The obtained results reveal that the proposed model has the capability of coordinating the order quantity in the investigated SC and also is able to handle the demand fluctuations effectively.","PeriodicalId":113309,"journal":{"name":"International Journal of Inventory Research","volume":"2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-07-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124199262","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 19
Manufacturing newsvendors and inventory pooling with nonlinear production costs 非线性生产成本下的制造报摊与库存池
International Journal of Inventory Research Pub Date : 2016-07-02 DOI: 10.1504/IJIR.2016.077452
Y. Gerchak
{"title":"Manufacturing newsvendors and inventory pooling with nonlinear production costs","authors":"Y. Gerchak","doi":"10.1504/IJIR.2016.077452","DOIUrl":"https://doi.org/10.1504/IJIR.2016.077452","url":null,"abstract":"We discuss a manufacturing newsvendor problem with nonlinear production costs. We perform comparative statics with respect to the unit revenue, the production cost function and the demand distribution. We provide several specific examples. Then we analyse inventory pooling between manufacturing newsvendors with nonlinear production costs, which involves comparing joint production to individual production. We illustrate the findings by using examples with demands following i.i.d. uniform and normal distributions.","PeriodicalId":113309,"journal":{"name":"International Journal of Inventory Research","volume":"132 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-07-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122767139","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 2
Cost comparison of policies for ordering large-calibre ammunition inventory using a Weibull deterioration function 基于威布尔退化函数的大口径弹药库存订购策略成本比较
International Journal of Inventory Research Pub Date : 2015-12-31 DOI: 10.1504/ijir.2015.073953
Srinivas, Mrinalini Shah, Santanu Roy
{"title":"Cost comparison of policies for ordering large-calibre ammunition inventory using a Weibull deterioration function","authors":"Srinivas, Mrinalini Shah, Santanu Roy","doi":"10.1504/ijir.2015.073953","DOIUrl":"https://doi.org/10.1504/ijir.2015.073953","url":null,"abstract":"Large-calibre ammunition batches deteriorate at different rates depending on their storage and transportation history. The structure of ordering policy used for the management of such a mixed stockpile may affect its long-term utility. The present paper explores the dependence of inventory system costs on the structure of ammunition ordering policy by modelling two simple ordering policies and comparing their long-run average costs. While corrective ordering policy (COP) advocates order placement only on failure, preventive ordering policy (POP) causes orders to be placed at a predetermined age or on failure, whichever is earlier. The research reported here tested the sensitivity of the ordering policy models to changes in cost and deterioration parameters using a unique method for estimating stockpile deterioration parameters from inspection data. The research results provide a framework for the selection of optimal ordering policy for large-calibre ammunition and other non military items that deteriorate similarly.","PeriodicalId":113309,"journal":{"name":"International Journal of Inventory Research","volume":"31 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123616226","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Shapley value and other allocation schemes for three-person supply chain games Shapley值和其他三人供应链博弈的分配方案
International Journal of Inventory Research Pub Date : 2015-12-31 DOI: 10.1504/IJIR.2015.073946
Xu Zhang, P. Zeephongsekul
{"title":"Shapley value and other allocation schemes for three-person supply chain games","authors":"Xu Zhang, P. Zeephongsekul","doi":"10.1504/IJIR.2015.073946","DOIUrl":"https://doi.org/10.1504/IJIR.2015.073946","url":null,"abstract":"A game theoretical approach to modelling different supply chains has become a very active area of research in supply chain management during the last two decades. The models that are currently used employed both a non-cooperative and a cooperative approach. Most studies also concentrate on upstream members of the supply chain and ignore the contribution of the consumer downstream and her influence on decisions made by the other members of the chain. In this paper, the consumer, whose purchasing decision would affect the strategies adopted by other players, is an active member of the three-person supply chain games. We present several supply chain models involving a supplier, a retailer and a consumer under both a non-cooperative and cooperative game scenario. Nash equilibrium solutions will be obtained for players in the non-cooperative game, and Pareto and Shapley values in the cooperative game. Numerical examples illustrating and comparing between the different models are also provided.","PeriodicalId":113309,"journal":{"name":"International Journal of Inventory Research","volume":"28 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121310747","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
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