Quality management systems have been shown to improve inventory management, increase internal efficiencies, and enhance the ability of businesses to meet customer specifications, but little work has explored the role of employee decisions in the success of such systems. This work used the methodology of processtracing to examine the decision-making process of grain elevator employees (n=164) as...

A potential retail operations strategy is to have a ‘‘dense’’ store. That is, a store that combines high product variety with a small footprint. Retail management desires smaller stores to provide the strategic benefits of convenience and speed to customers, but desires larger stores to provide high product variety. Noting the benefits of smaller, more numerous stores, several retailers well kn...

Inventory management is an important part of production planning process for enterprises. Decisions for strategies to determine when and how many to buy or make can be made by classifying the inventory items based on their sorts. In this evaluation, ABC inventory classification is one of the most commonly used approaches. In this study, a fuzzy analytic network process approach was proposed to ...

Remote sensing and GIS are complementary technologies that, when combined, enable improved monitoring, mapping, and management of forest resources (Franklin 2001). The information that supports forest management is stored primarily in the form of forest inventory databases within a GIS environment. A forest inventory is a survey of the location, composition, and distribution of forest resources...

Efficient logistics control demands for transparency to inventory in the whole distribution network. However, current information technology (IT) solutions do not support creating inventory transparency to temporary storage locations, which poses severe problems for supply chain management in project-oriented industries. This paper presents how inventory transparency can be built with quick-to-...

Motivated by empirical observations, we assume that the inventory level of a company follows a mean reverting process. The objective of the management is to keep this inventory level as close as possible to a given target; there is a running cost associated with the difference between the actual inventory level and the target. If inventory deviates too much from the target, management may perfo...

Many extension of the newsboy problem have been solved in the literature. One of those extensions solves a newsboy problem with stochastic initial inventory, earlier extensions have focused on quantity discounts offered by suppliers. An important practical extension would address a combination of the two pervious extensions. In this paper we consider a newsboy problem in which the suppliers off...

We investigate the situation where a customer experiencing an inventory stockout at a retailer potentially leaves the firm’s market. In classical inventory theory, a unit stockout penalty cost has been used as a surrogate to mimic the economic effect of such a departure; in this study we explicitly represent this aspect of consumer behavior, incorporating the diminishing effect of the consumers...

The inventory management system plays a vital role in a pharmaceutical industry. For every business, managing an inventory is important whether it is small or big, domestic or international business. In a pharmaceutical company, the raw materials have an expiry date associated with them so it becomes important to set a minimal safety stock for such items. The companies mostly try out keeping a ...