Inventory management involves trade-offs between conflicting objectives such as cost minimization and service level maximization. The trade-off analysis of cycle stock investment and workload, so called the exchange curve, possibly dates back to several decades ago. These analyses seldom formulated inventory trade-offs as a multi-objective optimization problem and their solution procedures were...

This case captures inventory management process in an Indian convenience store. Unlike retail stores in developed countries, Indian convenience stores are a special format of organized retailing, where retailers open multiple smaller stores in a town instead of one big centralised store. An excellent inventory management process is the key to make such stores perform well. This case describes i...

A risk inventory provides an integrated view on risk management artifacts, e.g., risks, risk controls, and performance indicators. In this paper, we show how adapting the enterprise architecture management processes (EAM) may provide a foundation for an integrated IT risk inventory. Based on a design research approach, we develop a systematic approach for integrating the disciplines of risk man...

This paper reviews inventory models with multiple supply options and discusses their contribution to supply chain management. After discussing strategic aspects of supplier competition and the role of operational flexibility in global sourcing, inventory models which use several suppliers in order to avoid or reduce the effects of shortage situations are outlined. Further, related inventory pro...

purchase or non-purchase of one item or itemset on the purchase or non-purchase of another item or itemset. The research in this paper models for incorporating purchase dependencies in retail multi-item inventory management. One illustrative example has been discussed with data mining in retail sale data. Various types of purchase dependencies including negative dependency have been identified ...

This extended abstract addresses the preliminary results of applying uncertainty handling strategies and advanced control techniques to the inventary management of hospitality pharmacy. Inventory management is one of the main tasks that a pharmacy department has to carry out in a hospital. It is a complex problem because it requires to establish a tradeoff between contradictory optimization cri...

This essay analyses and evaluates critically Tesco’s current operations management. The essay discusses from 3 major perspectives namely, operations strategy, operations design and operations management. Firstly, it will show an introduction. The second section will analyze Tesco’s formats and international expansion at corporate strategy level. And then, based on the customer-centric conceptio...

Mass customization is a business strategy that aims at satisfying individual customer needs, nearly with mass production efficiency. It induces a high complexity level because of various customer requirements and a steadily changing environment. However, mass customization has some potential to reduce complexity. The interdependencies between mass customization and complexity are discussed in o...

Vendor managed inventory replenishment is a business practice in which vendors monitor their customers’ inventories, and decide when and how much inventory should be replenished. The inventory routing problem addresses the coordination of inventory management and transportation. It needs to be solved to design a strategy that realizes the potential savings in inventory and transportation costs ...

The inventory management of multi-echelon repairable items systems is a major problem as these items are relatively expensive and slow-moving, so, inventory management can be a real problem due to mathematical complexities. In this work, a study was performed in a complex high-value products manufacturer, whose repairable items are both expensive and critical. Data of parts’ failure, storage an...