Pub Date : 2008-07-03DOI: 10.1504/IJIR.2008.019206
D. Pentico
We consider multi-period one-dimension assortment problems in which demands for all sizes meet the conditions for a dynamic demand economic lot size problem, the same set of sizes are stocked and the same substitution rules are followed in all periods (stationary stocking-substitution policies), and substitution costs have a 'scrap' component and, possibly, either unit-dependent or unit-independent fixed costs. We develop the form of an optimal solution for certain assumptions about the nature of the cost functions and for the relationships among demand patterns for the different sizes. Solution algorithms are developed for both segmented and quasi-segmented stocking-substitution policies and computation-reduction results are developed.
{"title":"The assortment problem with dynamic deterministic demands and stationary stocking-substitution policies","authors":"D. Pentico","doi":"10.1504/IJIR.2008.019206","DOIUrl":"https://doi.org/10.1504/IJIR.2008.019206","url":null,"abstract":"We consider multi-period one-dimension assortment problems in which demands for all sizes meet the conditions for a dynamic demand economic lot size problem, the same set of sizes are stocked and the same substitution rules are followed in all periods (stationary stocking-substitution policies), and substitution costs have a 'scrap' component and, possibly, either unit-dependent or unit-independent fixed costs. We develop the form of an optimal solution for certain assumptions about the nature of the cost functions and for the relationships among demand patterns for the different sizes. Solution algorithms are developed for both segmented and quasi-segmented stocking-substitution policies and computation-reduction results are developed.","PeriodicalId":113309,"journal":{"name":"International Journal of Inventory Research","volume":"2014 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-07-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127409534","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.1504/IJIR.2011.045386
Parag Dhumal, P. S. Sundararaghavan, U. Nandkeolyar
Marketing literature has long recognised price elasticity can increase the short term mean demand by as much as 400%. In this paper, we capture this behaviour of demand using a bi-level demand function and address the related inventory management problem. The seemingly simple problem turns out to be difficult to solve optimally. We present optimal and heuristic approaches. We also reformulate this problem by making price and duration as decision variables under profit maximisation environment and present calculus-based solutions.
{"title":"Inventory policies for products with bi-level demand: optimal and heuristic algorithms","authors":"Parag Dhumal, P. S. Sundararaghavan, U. Nandkeolyar","doi":"10.1504/IJIR.2011.045386","DOIUrl":"https://doi.org/10.1504/IJIR.2011.045386","url":null,"abstract":"Marketing literature has long recognised price elasticity can increase the short term mean demand by as much as 400%. In this paper, we capture this behaviour of demand using a bi-level demand function and address the related inventory management problem. The seemingly simple problem turns out to be difficult to solve optimally. We present optimal and heuristic approaches. We also reformulate this problem by making price and duration as decision variables under profit maximisation environment and present calculus-based solutions.","PeriodicalId":113309,"journal":{"name":"International Journal of Inventory Research","volume":"11 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126925288","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.1504/IJIR.2016.10003358
Bin Shen, H. Chan, Pui-Sze Chow, Kristin Thoney-Barletta
Fashion products have a short-life-cycle with highly volatile demand uncertainty. This uncertainty leads to challenges in managing inventory, as matching supply and demand is always difficult in the fashion industry. In this paper, we review the recent literature on fashion industry inventory management. We classify the extant literature by four widely-used research methodologies, including analytical, empirical, case study and simulation approaches. We identify that inventory ownership, information technology, and incentive schemes for increasing inventory efficiency are the key factors to enhance inventory management in the fashion industry. We propose that inventory management of luxury fashion, sustainability in inventory, and empirical and case study approaches are the most important directions for future research.
{"title":"Inventory management research for the fashion industry","authors":"Bin Shen, H. Chan, Pui-Sze Chow, Kristin Thoney-Barletta","doi":"10.1504/IJIR.2016.10003358","DOIUrl":"https://doi.org/10.1504/IJIR.2016.10003358","url":null,"abstract":"Fashion products have a short-life-cycle with highly volatile demand uncertainty. This uncertainty leads to challenges in managing inventory, as matching supply and demand is always difficult in the fashion industry. In this paper, we review the recent literature on fashion industry inventory management. We classify the extant literature by four widely-used research methodologies, including analytical, empirical, case study and simulation approaches. We identify that inventory ownership, information technology, and incentive schemes for increasing inventory efficiency are the key factors to enhance inventory management in the fashion industry. We propose that inventory management of luxury fashion, sustainability in inventory, and empirical and case study approaches are the most important directions for future research.","PeriodicalId":113309,"journal":{"name":"International Journal of Inventory Research","volume":"38 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131313780","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.1504/IJIR.2017.10011410
S. Srivastava, Harendra Singh
A deterministic inventory model is developed for a deteriorating item having linear demand and variable deterioration rate. Shortages are allowed and partially backlogged. In developing the model we have assumed that the rate of backlogging is variable and dependent on the waiting time for the next replenishment. The objective of the model is to develop an optimal policy that minimises the total average cost. Suitable numerical example has been discussed to understand the problem. Sensitivity analysis has been carried out to show the effect of changes in the parameter on the optimum total average cost.
{"title":"Deterministic inventory model for items with linear demand, variable deterioration and partial backlogging","authors":"S. Srivastava, Harendra Singh","doi":"10.1504/IJIR.2017.10011410","DOIUrl":"https://doi.org/10.1504/IJIR.2017.10011410","url":null,"abstract":"A deterministic inventory model is developed for a deteriorating item having linear demand and variable deterioration rate. Shortages are allowed and partially backlogged. In developing the model we have assumed that the rate of backlogging is variable and dependent on the waiting time for the next replenishment. The objective of the model is to develop an optimal policy that minimises the total average cost. Suitable numerical example has been discussed to understand the problem. Sensitivity analysis has been carried out to show the effect of changes in the parameter on the optimum total average cost.","PeriodicalId":113309,"journal":{"name":"International Journal of Inventory Research","volume":"8 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132155846","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.1504/IJIR.2021.10036300
Barun Das, D. Barman
{"title":"Two-echelon supply chain inventory model with variable lead time and ramp-type demand for deterioration item under bi-level credit period","authors":"Barun Das, D. Barman","doi":"10.1504/IJIR.2021.10036300","DOIUrl":"https://doi.org/10.1504/IJIR.2021.10036300","url":null,"abstract":"","PeriodicalId":113309,"journal":{"name":"International Journal of Inventory Research","volume":"56 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127940731","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.1504/IJIR.2016.10003359
Amy C. Y. Yip, Minyi Huang
Inventory management has always been at the top of the agenda in the fast fashion business. Companies compete largely on strategic inventory management, which empowers quick market responsiveness. Much interest has recently been aroused by the use of radio frequency identification (RFID) in enabling product visibility along the supply chain. This paper presents a case study of Zara's RFID deployment, one of the largest-scale implementations in the industry, based on secondary data. It explores how Zara's RFID adoption aligns with its existing supply chain structure, business model and IT infrastructure. By drawing on the IT value hierarchy model (Urwiler and Frolick, 2008) in information systems literature, this paper creates a showcase for technology-enabled innovation that brings competitive differentiation in the context of inventory management in the fast fashion industry.
{"title":"Strategic values of technology-driven innovation in inventory management: a case study of Zara's RFID implementation","authors":"Amy C. Y. Yip, Minyi Huang","doi":"10.1504/IJIR.2016.10003359","DOIUrl":"https://doi.org/10.1504/IJIR.2016.10003359","url":null,"abstract":"Inventory management has always been at the top of the agenda in the fast fashion business. Companies compete largely on strategic inventory management, which empowers quick market responsiveness. Much interest has recently been aroused by the use of radio frequency identification (RFID) in enabling product visibility along the supply chain. This paper presents a case study of Zara's RFID deployment, one of the largest-scale implementations in the industry, based on secondary data. It explores how Zara's RFID adoption aligns with its existing supply chain structure, business model and IT infrastructure. By drawing on the IT value hierarchy model (Urwiler and Frolick, 2008) in information systems literature, this paper creates a showcase for technology-enabled innovation that brings competitive differentiation in the context of inventory management in the fast fashion industry.","PeriodicalId":113309,"journal":{"name":"International Journal of Inventory Research","volume":"118 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123229026","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.1504/IJIR.2017.10011404
L. Sabir, J. A. Farooquie
Fresh agri-food products, like fruits and vegetables (F&Vs), are perishable products having a very short shelf life. They are different from non-perishables in managing their inventories as customers are more concerned about the nutritious value and shelf life. Customers are becoming strategic and planning their purchase based on the markdown and other promotional activities. Retailers are finding it difficult to a trade-off between the prices and remaining shelf life for offering markdown. Therefore, decisions depending upon the value and timing of such markdowns for 'not so fresh' F&V are important. This paper attempts to address these issues based on previously published studies which suggested a simple procedure to identify the quantum and time of markdowns for perishable products inside a retail store. Extending the approach, Monte Carlo simulation is applied in order to generate randomness in probability of sales and demand for F&V. A questionnaire is used in order to get the primary data from 89 retailers from Delhi/NCR, India. Organised retail of F&V is still at starting stage in India and no such study has been attempted before.
{"title":"Dynamic pricing and profit maximisation: a simulation-based approach for agri-fresh products retailing in India","authors":"L. Sabir, J. A. Farooquie","doi":"10.1504/IJIR.2017.10011404","DOIUrl":"https://doi.org/10.1504/IJIR.2017.10011404","url":null,"abstract":"Fresh agri-food products, like fruits and vegetables (F&Vs), are perishable products having a very short shelf life. They are different from non-perishables in managing their inventories as customers are more concerned about the nutritious value and shelf life. Customers are becoming strategic and planning their purchase based on the markdown and other promotional activities. Retailers are finding it difficult to a trade-off between the prices and remaining shelf life for offering markdown. Therefore, decisions depending upon the value and timing of such markdowns for 'not so fresh' F&V are important. This paper attempts to address these issues based on previously published studies which suggested a simple procedure to identify the quantum and time of markdowns for perishable products inside a retail store. Extending the approach, Monte Carlo simulation is applied in order to generate randomness in probability of sales and demand for F&V. A questionnaire is used in order to get the primary data from 89 retailers from Delhi/NCR, India. Organised retail of F&V is still at starting stage in India and no such study has been attempted before.","PeriodicalId":113309,"journal":{"name":"International Journal of Inventory Research","volume":"20 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131510195","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.1504/IJIR.2016.081882
Allen H. Tai, W. Ching
Markovian models have a wide range of applications in management science. One of the major applications is in modelling inventory systems. This paper presents a review of the recent advances on Markovian models for inventory research since the early 2000s. Markovian models for some important factors in inventory management, such as demand and supply processes, are discussed in the paper. Finally, directions for future research are provided.
{"title":"Recent advances on Markovian models for inventory research","authors":"Allen H. Tai, W. Ching","doi":"10.1504/IJIR.2016.081882","DOIUrl":"https://doi.org/10.1504/IJIR.2016.081882","url":null,"abstract":"Markovian models have a wide range of applications in management science. One of the major applications is in modelling inventory systems. This paper presents a review of the recent advances on Markovian models for inventory research since the early 2000s. Markovian models for some important factors in inventory management, such as demand and supply processes, are discussed in the paper. Finally, directions for future research are provided.","PeriodicalId":113309,"journal":{"name":"International Journal of Inventory Research","volume":"108 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127974766","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.1504/ijir.2022.10050460
Emrae Jung
{"title":"A cost-benefit comparison of build-to-order and hybrid build-to-order/build-to-stock assembly for automotive modules","authors":"Emrae Jung","doi":"10.1504/ijir.2022.10050460","DOIUrl":"https://doi.org/10.1504/ijir.2022.10050460","url":null,"abstract":"","PeriodicalId":113309,"journal":{"name":"International Journal of Inventory Research","volume":"239 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115698810","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.1504/ijir.2022.10046119
W. Silva, R. Vidal, P. Marques, M. E. Fontana
{"title":"Priority model for critical success factors in reverse flow inventory management","authors":"W. Silva, R. Vidal, P. Marques, M. E. Fontana","doi":"10.1504/ijir.2022.10046119","DOIUrl":"https://doi.org/10.1504/ijir.2022.10046119","url":null,"abstract":"","PeriodicalId":113309,"journal":{"name":"International Journal of Inventory Research","volume":"35 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125801467","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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