• Title, Summary, Keyword: Inventory Management

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The Development of The Integrated Inventory Management System using SCM and Intranet (SCM(Supply Chain Management)과 Intranet을 이용한 통합재고관리시스템(IIMS)의 개발)

  • 부민호;박윤선
    • The Journal of Society for e-Business Studies
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    • v.3 no.2
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    • pp.203-217
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    • 1998
  • Supply chain management is defined as "an integrative philosophy to manage the total flow of a distribution channel from the supplier to the ultimate user". There are many differences between traditional systems and supply chain management systems, There are so many advantages applying SCM concept in inventory management field from the viewpoint of information sharing. While each firm try to optimize the inventory individually in traditional systems, SCM focus on optimizing the channel-wide-inventory making effort to reduce the inventory interrelatedly, The more complex your network of suppliers, manufacturers, and distributors, the more you are likely to gain operational efficiencies by attending on inventory management. The inventory stockpiles at the various sites, including both incoming materials and finished products, have complex interrelationships. Efficient and effective management of inventory throughout the supply chain significantly improves the ultimate service provided to the customer. The purpose of this thesis is to develop the integrated inventory management system for the control of channel-wide inventory on the intranet by applying SCM concept.

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Development of Integrated Inventory Management Model and Determination Inventory Replenishment Period in SCM (SCM 환경 하에서 재고보충주기 결정 및 통합 재고관리 모델 개발)

  • Kim, Myeong-Hun;An, Dong-Gyu
    • 한국디지털정책학회:학술대회논문집
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    • pp.349-357
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    • 2007
  • We consider supply chain which consist of one manufacturer, one distributor and N retailers for a single product. This paper determines inventory replenishment period of supply chain using houristic method and propose order policy through re-coordination of inventory replenishment. Also, We develops inventory management model to calculate total cost of supply chain under assumptions of constant demand. The computational results show that the proposed inventory replenishment period and inventory management model is efficient.

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Development of Integrated Inventory Management Model and Determination Inventory Replenishment Period in SCM (SCM 환경 하에서 재고보충주기 결정 및 통합 재고관리 모델 개발)

  • Kim, Myoung-Hun;An, Dong-Kyu
    • Journal of Digital Convergence
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    • v.5 no.1
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    • pp.47-53
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    • 2007
  • We consider supply chain which consist of one manufacturer, one distributor and N retailers for a single product. This paper determines inventory replenishment period of supply chain using heuristic method and propose order policy through re-coordination of inventory replenishment. Also, We develops inventory management model to calculate total cost of supply chain under assumptions of constant demand. The computational results show that the proposed inventory replenishment period and inventory management model is efficient.

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Personnel Attitude and Satisfaction with Hospital Inventory Management (병원 재고자산관리에 관한 병원직원의 태도와 만족도)

  • Oh, Young-Hwan;Yu, Seung-Hum;Sohn, Tae-Yong
    • Korea Journal of Hospital Management
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    • v.3 no.1
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    • pp.83-99
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    • 1998
  • The purpose of this study is to investigate factors influencing the attitude and satisfaction with inventory management of hospitals. Data were collected from 344 employees in two hospitals located in Seoul and one hospital located in Choong-Chung Do, Korea, using a self-administered questionnaire. Items included in the self-administered questionnaire were hospital and socioeconomic characteristics of personnels such as the level of knowledge, practice, attitude, and satisfaction with inventory management of hospitals. Major findings were as follows; Job position was significantly associated with satisfaction with inventory management. According to age, sex, type of position and aptitude of personnel the level of positive attitude to and satisfaction with inventory management showed significant association. Generally, those who had higher level of knowledge and practice showed a higher tendency toward positive attitude of inventory management, except for those in medical support post. A higher tendency of satisfaction with inventory management was also observed, with the exception of personnel in nurse post. This study showed that major factors affecting attitude toward inventory management are level of knowledge and practice, and factors affecting satisfaction are job position and aptitude. The level of attitude and satisfaction explained by these factors were 46.8% and 12.2%, respectively. According to the results of this study, higher level of knowledge and practice, job position and aptitude appear to be essential for the implementation of effective inventory management. Factors affecting attitude and satisfaction of inventory management should be studied more in depth systematically so that other objective test and measurements can be developed.

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A Stock Transfer Process Development for Distribution Center Relocation (물류센터 이전 시 재고 이관 프로세스 개발)

  • Chi, Woon-Sik;Oh, In-Ho
    • Journal of the Korea Safety Management and Science
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    • v.20 no.3
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    • pp.37-46
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    • 2018
  • According to enhancement of roles and functions of enterprises' distribution centers, recent trend of distribution centers are specialization and diversification which have generated lots of new distribution center building or expansion of the existing ones and led attention on stock transfer importance in case of distribution center relocation. This thesis is a study for how to reduce stock transfer leadtime in order to minimize business risk and how to increase inventory accuracy when stock ownership is transferred in case of distribution center relocation, and to provide inventory accuracy management methods and inventory in/out management types, detailed definition to evaluate level for inventory accuracy management and pros/cons by inventory in/out management type assuming 'the higher inventory accuracy before stock transfer, the shorter stock transfer leadtime when distribution center is relocated'. This thesis provides detailed procedure to secure an absolute stock transfer leadtime and process to confirm hugh inventory accuracy by stakeholders which should be sloved by Task Force Team for stock transfer in case of distribution center relocation.

Analyzing the Impact of Inventory Management Performance on the Energy Efficiency in Korean Petrochemical Companies (재고관리성과가 에너지효율성에 미치는 영향에 대한 실증분석 : 국내 석유화학 기업을 대상으로)

  • Kim, Gilwhan;Lee, Jiwoong
    • Korean Management Science Review
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    • v.34 no.3
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    • pp.1-14
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    • 2017
  • This study empirically analyzes the impact of inventory management performance on the energy efficiency in Korean petrochemical companies. The concept of the distance function is used to define the energy efficiency and the estimation of the distance function is performed using the stochastic frontier analysis. The inventory turnover is selected as the variable indicating the inventory management performance of the company. The main results of this study are as follows. First, the inventory turnover has a positive impact on energy efficiency. Second, during the period over 2011~2015, while the gap in energy efficiency among the companies expanded, the average energy efficiency decreased. Third, the average energy efficiency in upstream process companies was greater than downstream process companies and the gap in energy efficiency among downstream process companies was greater than upstream process companies. Fourth, the average marginal effect of inventory turnover on energy efficiency increased gradually from 2011 to 2015. Finally, the average marginal effect of inventory turnover in downstream process companies was greater than upstream process companies, and the gap in the marginal effect of inventory turnover among downstream process companies was greater than upstream process companies. These results together imply the importance of inventory management in terms of energy efficiency.

A Generalization of the Robust Inventory Problem with Non-Stationary Costs

  • Park, Kyung-Chul;Lee, Kyung-Sik
    • Management Science and Financial Engineering
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    • v.16 no.3
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    • pp.95-102
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    • 2010
  • This paper considers the robust inventory control problem introduced by Bertsimas and Thiele [4]. In their paper, they have shown that the robust version of the inventory control problem can be solved by solving a nominal inventory problem which is formulated as a mixed integer program. As a proper generalization of the model, we consider the problem with non-stationary cost. In this paper, we show that the generalized version can also be solved by solving a nominal inventory problem. Furthermore, we show that the problem can be solved efficiently.

On The Security of RFID-based Monitoring Mechanism for Retail Inventory Management

  • Chen, Yu Yi;Jan, Jinn Ke;Tsai, Meng Lin;Ku, Chun Ching;Huang, Der Chen
    • KSII Transactions on Internet and Information Systems (TIIS)
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    • v.6 no.2
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    • pp.515-528
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    • 2012
  • The aim of this article is to provide a study on the issue of inventory inaccuracy and to show the manner in which RFID technology can improve the inventory management performance. The objective of inventory control is to monitor the stock flow of merchandises in order to understand the operating profit and loss. A proper mechanism of inventory control could be made to help the profitability. As RFID is applied to inventory control, it can improve efficiency, enhance accuracy and achieve security. In this paper, we introduce the evolution of different mechanisms of inventory control with RFID system-counting method, collect-all method, and continuous monitoring method. As for improving the accuracy of inventory check during business hours, continuous monitoring is the solution. We introduce the infrastructure of the RFID inventory management system based on M2M architecture can make the inventory be efficiently monitored with instant warnings.

Development of an Efficient Decision Rule for Blood Inventory Management (효율적인 혈액 재고 관리를 위한 결정룰의 도출)

  • 서정대
    • Journal of the Korea Society for Simulation
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    • v.5 no.1
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    • pp.13-27
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    • 1996
  • The management of blood inventory is very important within the medical care system. The efficient management of blood supplies and demands for transfusion is of great economic and social importance to both hospitals and patients. Fro any blood type, there is a complex interaction among the optimal inventory level, daily demand level , daily supply level, transfusion to crossmatch ratio, crossmatch release period, issuing policy and the age of arriving units that determine the shortage and outdate rate. In this paper, we develop an efficient decision rule for blood inventory management in a hospital blood bank which can support efficient hospital blood inventory management using simulation, The primary use of the efficient decision rule will be to establish minimum cost function which consists of inventory levels , period in inventory, outdate and shortage rate for whole blood and various component inventories for a hospital blood bank or a transfusion service, If the adminstrator compute the mean daily demand for each blood type, the mean daily supply for each blood type, the length of the crossmatch release period and the average transfusion to crossmatch ratio , then it is possible to apply the efficient decision rule to compute the optimal inventory level, inventory period , outdate and shortage rate. This rule can also be used as a decision support system that allows the blood bank adminstrator to do sensitivity analysis related to controlled blood inventory parameters.

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Does Lean Inventory Lead to Firm Performance? An International Comparison between the US and Japanese Manufacturers

  • Roh, James Jungbae;Lee, Jooh
    • The Journal of Distribution Science
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    • v.11 no.7
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    • pp.23-30
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    • 2013
  • Purpose - The study attempts to investigate the relationship between inventory management and firm performance using a multi-dimensional aspect of inventory management with respect to lean management practices across countries. Research design, data, and methodology - 1643 manufacturing firms from Japan and the US that SIC ranges from 2000 to 3999 were chosen to conduct the empirical test. This study employs hierarchical OLS regression analysis to examine the impact of control variables, ABI, EBI, and the interaction between ABI and EBI on firm performance. Results - The result indicates that in Japan high level of inventory negatively influences the accounting flows of business, while US manufactures exhibit strong positive impact of ELI on firm performance across accounting and market measures. The results show that the complementarity between the amount and the speed of inventory does exist. Except for Tobin's q, the sign of interaction term coefficient is negative, suggesting that when the amount of inventory increases and it stays longer in a firm, market values, ROS, and ROA suffers. Conclusions - The major finding of this study is that there exist some complementarities between the scope and implication of inventory management for lean strategy across countries, particularly in U.S. and Japanese firms.