Designing smart replenishment systems: Internet-of-Things technology for vendor-managed inventory at end consumers
نویسندگان
چکیده
منابع مشابه
A Reinforcement Learning Approach for Inventory Replenishment in Vendor-Managed Inventory Systems With Consignment Inventory
The use of VMI at Wal-Mart on a large scale has attracted a great deal of attention in the industrial world. In a VMI program, the supplier assumes control of the inventory management for one or more retailers (Fry, 2002). The supplier monitors the inventory level at the retailers and makes the decisions related to the quantities of replenishment and the timing of shipments to the retailers. It...
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Vendor-managed inventory (VMI) is a supply-chain initiative where the supplier is authorized to manage inventories of agreed-upon stock-keeping units at retail locations. The benefits of VMI are well recognized by successful retail businesses such as Wal-Mart. In VMI, distortion of demand information (known as bullwhip effect) transferred from the downstream supply-chain member (e.g., retailer)...
متن کاملCoordination issues in vendor managed inventory systems
Supply chain coordination has received substantial attention in the operations literature in recent years. Coordination issues in supply chains arise due to several factors, an important one being the difference in the cost impact of inventory and replenishment decisions on the manufacturer and retailer. In this paper, we address this asymmetry in cost impact that can lead to sub-optimal channe...
متن کاملThe inventory value of information sharing, continuous replenishment, and vendor-managed inventory
In this paper, we extend the models in the literature [Lee, H.L., So, K.C., Tang, C., 2000. The value of information sharing in a two-level supply chain. Management Science 46 (5), 626–643; Raghunathan, S., Yeh, A.B., 2001. Beyond EDI: impact of continuous replenishment program (CRP) between a manufacturer and its retailers. Information Systems Research 12 (4), 406–419] to analyze the benefits ...
متن کاملA Bi-objective Optimization for Vendor Managed Inventory Model
Vendor managed inventory is a continuous replenishment program that is designed to provide major cost saving benefits for both vendors and retailers. Previous research on this area mainly included single objective optimization models where the objective is to minimize the total supply chain costs or to maximize the total supply chain benefits. This paper presents a bi-objective mathematical mod...
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ژورنال
عنوان ژورنال: European Journal of Operational Research
سال: 2021
ISSN: 0377-2217
DOI: 10.1016/j.ejor.2021.03.042