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How consumer demand affects order quantity in practice: an empirical study on inventory management decisions in fashion retailing 消费者需求在实践中如何影响订货量:时尚零售业库存管理决策的实证研究
Pub Date : 2016-11-22 DOI: 10.1504/IJIR.2016.10001217
H. Chan, T. Choi, Yee Man Ho
This study investigates the real inventory decisions in a fashion retailing company through a real sales data-based empirical study. Specifically, we collect a nine months sample sales dataset of 189 fashion product items from a Hong Kong-based fashion retailing company, and statistically verify relationships between the order quantity and several critical factors. Our findings reveal that: 1) the mean of demand, the standard variation of demand, and the profit margin of the fashion items are statistical significantly correlated with the ordering quantity decision of the case company; 2) there is no statistically significant difference on the order deviation from the mean of demand between the high and low profit margin products. We explain these findings by relating them to the analytical models under the newsvendor problem setting. Implications and important insights are discussed.
本研究通过基于真实销售数据的实证研究,探讨了某时尚零售企业的真实库存决策。具体而言,我们从一家香港时装零售公司收集了9个月的189件时装产品的样本销售数据集,并统计验证了订单数量与几个关键因素之间的关系。研究结果表明:1)需求均值、需求标准差、时尚产品利润率与案例企业的订货量决策具有显著的统计相关性;2)高、低利润率产品的订单偏离需求均值的差异无统计学意义。我们通过将这些发现与报贩问题设置下的分析模型联系起来来解释这些发现。讨论了影响和重要的见解。
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引用次数: 2
A heuristic optimisation algorithm for two-echelon (R, Q) inventory systems with non-identical retailers 具有非相同零售商的两层(R, Q)库存系统的启发式优化算法
Pub Date : 2016-11-22 DOI: 10.1504/IJIR.2016.10001214
Mohammad H. Al-Rifai, M. Rossetti, A. Sheikhzadeh
This paper describes an optimisation algorithm that minimises the total inventory investment of a one warehouse and an m non-identical retailer's inventory system using reorder point and order quantity (R, Q) policies. The inventory system is subject to constraints on the average ordering frequency and number of backorders. The system is decomposed by echelon and location, and analytical expressions are derived for the inventory policy parameters. Sets of computational experiments illustrate the effectiveness of the heuristic over a wide range of problem instances. Experimental results indicate that the heuristic optimisation algorithm is an effective procedure for optimising the sampled inventory systems regarding both the quality of the solutions and the computational times. This research provides approximations and a heuristic optimisation procedure for a two-echelon inventory system for the non-identical retailer's case.
本文描述了一种利用再订货点和订单数量(R, Q)策略最小化一个仓库和m个非相同零售商库存系统总库存投资的优化算法。库存系统受到平均订购频率和缺货数量的限制。对系统进行了阶梯式和位置分解,导出了库存策略参数的解析表达式。一系列的计算实验说明了启发式算法在广泛的问题实例上的有效性。实验结果表明,启发式优化算法在求解质量和计算时间方面都是一种有效的优化抽样库存系统的方法。本文针对不同零售商的情况,给出了两梯次库存系统的近似和启发式优化过程。
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引用次数: 6
The effect of smoothing filters on supply chain performance 平滑滤波器对供应链绩效的影响
Pub Date : 2016-11-22 DOI: 10.1504/IJIR.2016.10001163
A. S. White, Michael Censlive
This paper examines how the form of the sales smoothing function affects the performance of a supply chain. Modelling uses Laplace and z transforms with Simulink™ implementations of the equations for an APVIOBPCS inventory system. Inventory stock-out depends on the delay function representation and strongly on the sales smoothing function. The models presented here use a control-theoretic formulation to determine sales smoothing functions, which can be designed to substantially reduce the inventory response to changing sales. The analysis shows the effect of replacing the traditional moving average technique (EWMA) with one based on control theory can result in a much lower stock-out value for a shorter time improving both bullwhip effect and customer service levels. Performance of this filter in an EPOS enabled supply chain is sufficient to reduce the stock-out for the retailer by 50% with a substantial reduction for other members of the chain and almost eliminating bullwhip.
本文研究了销售平滑函数的形式对供应链绩效的影响。建模使用拉普拉斯和z变换与Simulink™实现的方程为APVIOBPCS库存系统。库存缺货依赖于延迟函数的表示,并强烈依赖于销售平滑函数。这里提出的模型使用控制理论公式来确定销售平滑函数,可以设计成大大减少库存对变化的销售的响应。分析表明,将传统的移动平均技术(EWMA)替换为基于控制理论的移动平均技术(EWMA),可以在较短的时间内大大降低缺货值,提高牛鞭效应和客户服务水平。在EPOS支持的供应链中,这种过滤器的性能足以将零售商的缺货率降低50%,同时大大降低了链中其他成员的缺货率,几乎消除了牛鞭。
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引用次数: 1
Inventory types and their effects on sales 库存类型及其对销售的影响
Pub Date : 2016-11-22 DOI: 10.1504/IJIR.2016.10001176
Bowon Kim, Sunghak Kim
Inventory's primary role is to buffer against uncertainty. That is, the firm holds inventory to cope with the market demand uncertainty. There is another rather negative aspect of inventory: an excessive inventory reduces firm's responsiveness to the changing market and thus has an adverse effect on the sales. To study whether the inventory's position in the supply chain affects the firm's sales differently, we look into three types of inventory separately, i.e., raw material, work-in-process, and finished goods inventory. We analyse the panel data, which consist of 4,624 firm-year observations for 272 manufacturing firms in twenty-one different industries listed in the Korean stock market indices from 1996 to 2012, and conclude as follows. For each inventory type, there is a positive relationship between current inventory and current sales. On the contrary, controlling the current inventory, the analysis shows the relationship between previous year's inventory and current sales is negative. By showing that the relationship between inventory and sales is valid for each of the three different types of inventory, we are making a contribution to the literature, where most studies focused on the role of finished goods inventory in enhancing the firm's performance.
库存的主要作用是缓冲不确定性。也就是说,企业持有库存是为了应对市场需求的不确定性。库存还有另一个相当消极的方面:过多的库存降低了公司对不断变化的市场的反应能力,从而对销售产生不利影响。为了研究库存在供应链中的位置是否会对企业的销售产生不同的影响,我们分别研究了三种类型的库存,即原材料、在制品和产成品库存。我们分析了面板数据,这些数据包括1996年至2012年韩国股票市场指数中21个不同行业的272家制造业企业的4,624家公司的年度观察结果,并得出如下结论。对于每种库存类型,当前库存与当前销售之间存在正相关关系。相反,在控制当期库存的情况下,分析显示上一年度的库存与当期销售呈负相关关系。通过表明库存和销售之间的关系对于三种不同类型的库存都是有效的,我们对文献做出了贡献,其中大多数研究都集中在成品库存在提高公司绩效方面的作用。
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引用次数: 5
Analysing a fuzzy integrated inventory-production-distribution planning problem with maximum NPV of cash flows in a closed-loop supply chain 分析闭环供应链中现金流NPV最大的模糊库存-生产-配送综合规划问题
Pub Date : 2016-07-02 DOI: 10.1504/IJIR.2016.077449
A. H. Nobil, A. Taleizadeh
This research presents an integrated inventory-production-distribution planning model to maximise the net present value (NPV) of cash flows under fuzzy environment. The proposed model for a closed-loop supply chain (CLSC) including multiple suppliers, several manufacturing plants, and some customers is proposed. The objective function coefficients and customers' demand are assumed as the triangular fuzzy numbers. This study attempts to reduce the chain total costs including raw material procurement, production, warehousing, transportation, and reworking costs. So, the aim of this research is to determine the order quantity of raw material and production quantity of product, such that the NPV is maximised. The key feature of this work is presenting a normative framework based on the fuzzy decision-making approach to solve the production-distribution programming problems using NPV of cash flows for a three-echelon CLSC under uncertain/unknown environment. Moreover, a new solution method based on diffuzification by linear programming (LP) method is developed. At the end, performance of the proposed approach is examined using a hypothetical numerical example and also findings of the proposed model are discussed.
本文提出了模糊环境下企业现金流净现值最大化的库存-生产-配送一体化规划模型。提出了一个包含多个供应商、多个制造工厂和一些客户的闭环供应链模型。假设目标函数系数和客户需求为三角模糊数。本研究试图降低供应链的总成本,包括原材料的采购、生产、仓储、运输和返工成本。因此,本研究的目的是确定原材料的订单数量和产品的生产数量,使NPV最大化。本文的主要特点是提出了一个基于模糊决策方法的规范框架,用于解决不确定/未知环境下三梯次CLSC的现金流NPV生产-分配规划问题。在此基础上,提出了一种基于扩散的线性规划求解方法。最后,用一个假设的数值例子检验了所提出方法的性能,并讨论了所提出模型的发现。
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引用次数: 11
Lead time uncertainty and supply chain coordination in lost sales inventory models 销售损失库存模型中的交货时间不确定性和供应链协调
Pub Date : 2016-07-02 DOI: 10.1504/IJIR.2016.077453
B. Cobb
The effects of lead time uncertainty on optimal inventory policies in a two-echelon supply chain operating under continuous review inventory assumptions are examined. In this system, the buyer selects an inventory order quantity and reorder point to maximise its profits, while the seller selects an order quantity from its external supplier that is an integer multiple of the buyer's order quantity; unsatisfied demand is accounted for as lost sales and may also incur a penalty cost representing lost customer goodwill. Normally distributed demand per unit time is assumed and lead time can follow any discrete probability distribution, resulting in a mixture of Gaussians distribution for lead time demand. Examples where lead time is discrete and not well-approximated by a continuous distribution are examined, and use of the mixture of Gaussians approach versus a single normal distribution for lead time demand in these cases reduces supply chain costs by between 12% and 13%.
研究了在连续评审库存假设下的两级供应链中,交货期不确定性对最优库存政策的影响。在该系统中,买方选择一个库存订单数量和再订货点以实现利润最大化,卖方选择一个外部供应商的订单数量,该订单数量是买方订单数量的整数倍;未满足的需求被认为是损失的销售,也可能产生代表客户商誉损失的罚款成本。假设单位时间内的需求服从正态分布,且提前期可以服从任意离散概率分布,导致提前期需求的混合高斯分布。我们研究了一些例子,其中交货时间是离散的,不能用连续分布很好地近似,在这些情况下,使用混合高斯方法和单一正态分布来计算交货时间需求,可以减少12%到13%的供应链成本。
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引用次数: 5
Coordinating inventory decisions in a two-echelon supply chain through the target sales rebate contract 通过目标销售返利合同协调两级供应链的库存决策
Pub Date : 2016-07-02 DOI: 10.1504/IJIR.2016.077454
J. Heydari, Javad Asl-Najafi
In this paper, a model in the context of a decentralised two-echelon supply chain (SC) with a single supplier and a single retailer confronting an uncertain market demand is developed. The proposed model seeks to coordinate the decisions related to the retailer's order quantity that increases the profit of the decentralised SC as much as the centralised one. With regard to the considered SC features, sales rebate contract is applied and a new approach for determining the contract's parameters including sales target level and rebate amount is developed which is based on the retailer and supplier viewpoints. Furthermore, applicability of the proposed model is evaluated via some numerical examples and the results are analysed in depth. Finally, some sensitivity analyses are conducted on demand variations. The obtained results reveal that the proposed model has the capability of coordinating the order quantity in the investigated SC and also is able to handle the demand fluctuations effectively.
本文建立了一个单一供应商和单一零售商面对不确定市场需求的分散两级供应链模型。所提出的模型寻求协调与零售商订单数量相关的决策,以增加分散供应链的利润与集中供应链的利润一样多。针对所考虑的供应链特征,应用销售返利合同,提出了一种基于零售商和供应商观点确定合同参数的新方法,包括销售目标水平和返利金额。通过算例对模型的适用性进行了评价,并对结果进行了深入分析。最后,对需求变化进行了敏感性分析。研究结果表明,所提出的模型具有协调供应链订货数量的能力,并能有效地处理需求波动。
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引用次数: 19
Manufacturing newsvendors and inventory pooling with nonlinear production costs 非线性生产成本下的制造报摊与库存池
Pub Date : 2016-07-02 DOI: 10.1504/IJIR.2016.077452
Y. Gerchak
We discuss a manufacturing newsvendor problem with nonlinear production costs. We perform comparative statics with respect to the unit revenue, the production cost function and the demand distribution. We provide several specific examples. Then we analyse inventory pooling between manufacturing newsvendors with nonlinear production costs, which involves comparing joint production to individual production. We illustrate the findings by using examples with demands following i.i.d. uniform and normal distributions.
讨论了一个具有非线性生产成本的报贩问题。我们对单位收入、生产成本函数和需求分布进行比较统计。我们提供了几个具体的例子。然后,我们分析了具有非线性生产成本的制造新闻供应商之间的库存池,其中包括联合生产和单独生产的比较。我们通过使用符合i.i.d均匀分布和正态分布的需求示例来说明研究结果。
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引用次数: 2
Cost comparison of policies for ordering large-calibre ammunition inventory using a Weibull deterioration function 基于威布尔退化函数的大口径弹药库存订购策略成本比较
Pub Date : 2015-12-31 DOI: 10.1504/ijir.2015.073953
Srinivas, Mrinalini Shah, Santanu Roy
Large-calibre ammunition batches deteriorate at different rates depending on their storage and transportation history. The structure of ordering policy used for the management of such a mixed stockpile may affect its long-term utility. The present paper explores the dependence of inventory system costs on the structure of ammunition ordering policy by modelling two simple ordering policies and comparing their long-run average costs. While corrective ordering policy (COP) advocates order placement only on failure, preventive ordering policy (POP) causes orders to be placed at a predetermined age or on failure, whichever is earlier. The research reported here tested the sensitivity of the ordering policy models to changes in cost and deterioration parameters using a unique method for estimating stockpile deterioration parameters from inspection data. The research results provide a framework for the selection of optimal ordering policy for large-calibre ammunition and other non military items that deteriorate similarly.
大口径弹药批次根据其储存和运输历史以不同的速率劣化。用于管理这种混合库存的订货政策结构可能会影响其长期效用。本文通过对两种简单的弹药订购策略进行建模,并比较它们的长期平均成本,探讨了库存系统成本对弹药订购策略结构的依赖关系。纠正性订购策略(COP)提倡只在失败时下订单,而预防性订购策略(POP)使订单在预定的年龄或失败时下订单,以较早者为准。本文采用一种独特的方法从检验数据中估计库存劣化参数,测试了订购策略模型对成本和劣化参数变化的敏感性。研究结果为大口径弹药和其他类似劣化的非军用物资的最优订货策略选择提供了框架。
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引用次数: 1
Shapley value and other allocation schemes for three-person supply chain games Shapley值和其他三人供应链博弈的分配方案
Pub Date : 2015-12-31 DOI: 10.1504/IJIR.2015.073946
Xu Zhang, P. Zeephongsekul
A game theoretical approach to modelling different supply chains has become a very active area of research in supply chain management during the last two decades. The models that are currently used employed both a non-cooperative and a cooperative approach. Most studies also concentrate on upstream members of the supply chain and ignore the contribution of the consumer downstream and her influence on decisions made by the other members of the chain. In this paper, the consumer, whose purchasing decision would affect the strategies adopted by other players, is an active member of the three-person supply chain games. We present several supply chain models involving a supplier, a retailer and a consumer under both a non-cooperative and cooperative game scenario. Nash equilibrium solutions will be obtained for players in the non-cooperative game, and Pareto and Shapley values in the cooperative game. Numerical examples illustrating and comparing between the different models are also provided.
在过去的二十年里,用博弈论的方法对不同的供应链进行建模已经成为供应链管理研究的一个非常活跃的领域。目前使用的模型采用了非合作和合作两种方法。大多数研究也集中在供应链的上游成员,而忽略了下游消费者的贡献以及她对供应链其他成员决策的影响。在本文中,消费者是三人供应链博弈中的积极参与者,其购买决策会影响其他参与者所采取的策略。在非合作博弈和合作博弈的情况下,我们提出了几个涉及供应商、零售商和消费者的供应链模型。非合作博弈中的参与者将得到纳什均衡解,合作博弈中的参与者将得到Pareto和Shapley值。并给出了数值算例,说明了不同模型之间的比较。
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引用次数: 1
期刊
International Journal of Inventory Research
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