Inventory record inaccuracy deteriorates supply chain performance because it leads to ineffective replenishment decisions. Conducting cycle counts (i.e., periodic inventory auditing) is a common approach to correct inventory records. It is not clear, however, how inaccuracy at different locations affects supply chain performance and how an effective cycle-count program for a multi-stage supply ...

No: 011-0319 Abstract Title: Impact of Inventory Allocation Policies on Downstream Supply Variability in a Multi-echelon System Authors Information: SUMAN NIRANJAN School of Management, State University of New York Binghamton, Vestal, NY 13902 607-777-4120 [email protected] FRANK CIARALLO Biomedical, Industrial, and Human Factors Engineering, Wright State University, Dayton, OH 45435 937-...

The efficient management of a distribution system requires coordination between transportation planning and inventory control. Small and frequent shipments can reduce inventory levels while maintaining high customer service levels, but they increase unit transportation costs due to inappropriate utilization of the vehicles and more handling costs. On the other hand shipment consolidation polici...

In this paper we consider a single-item inventory systemwith lost sales and fixed order cost. We numerically illustrate the lack of a clear structure in optimal replenishment policies for such systems. However, policies with a simple structure are preferred in practical settings. Examples of replenishment policies with a simple parametric description are the (s, S) policy and the (s,nQ) policy....

Large multi-echelon inventory systems usually consist of hundreds of thousands of stock keep units (SKU). Calculating inventory policies for each product is a computational burden that necessitates the need for more efficient policy setting techniques that reduce computational time and increases managerial convenience. The main objective of our research is to investigate the effect of segmentat...

We consider an inventory routing problem in discrete time where a supplier has to serve a set of customers over a time horizon. A capacity constraint for the inventory is given for each customer and the service cannot cause any stock-out situation. Two different replenishment policies are considered, the order-up-to level and the maximum level policies. A single vehicle with a given capacity is...

We address the inventory planning problem in process networks under uncertainty through stochastic programming models. The scope of inventory planning requires the formulation of multiperiod models to represent the time-varying conditions of industrial process, but the multistage stochastic programming formulations are often too large to solve. We propose a policy-based approximation of the mul...

Spare parts inventory management is one of the major areas of inventory research. Analysis of recent literature showed that an approach integrating spare parts classification, demand forecasting, and stock control policies is essential; however, adapting this integrated approach is limited. This work presents an integrated framework for spare part inventory management and an Excel based applica...

This paper formulates a stochastic inventory model for a single-period seasonal or fashion product inventory system consisting of multiple stocking echelons in series and retailers. By transforming model, an equivalent two-stage stochastic linear program model is developed to solve this stochastic inventory problem, which makes the inventory problem easier to analyze. The optimal placement poli...

Inventory represents from twenty to sixty percent of most manufacturing firms' total assets. Inventory management policies can thus prove critical in drawing the profits of such firms (Arnold, 1998) and their relevance clearly increase when Supply Chains (SCs) rather than single firms are considered. Inventory management is in fact a major issue in Supply Inventory decisions are often made inde...