Inventory Management Case Study - NAN- (original) (raw)
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The role of inventory in the supply chain
2008
Lanţul logistic este un sistem coordonat de organizaţii, oameni, activităţi, informaţii şi resurse implicate în mişcarea unui produs într-o manieră fizică sau virtuală de la furnizor la client. Activităţile din lanţul logistic transformă materiile prime şi componentele într-un produs care este livrat către consumator sau utilizator. Activitatea de stocare, alături de transport şi de localizarea spaţiilor de producţie sau a depozitelor, reprezintă un factor important care influenţează performanţa lanţului logistic. Stocul cuprinde materiile prime, munca în curs, şi toate produsele finite din cadrul unui lanţ logistic. Schimbarea politicilor de stocare poate duce la modificarea dramatică a eficienţei şi receptivităţii lanţului logistic. Managerii firmelor care fac parte dintr-un lanţ logistic trebuie să identifice principalele categorii de stocuri şi modul în care acestea pot fi dimensionate. La nivelul fiecărei firme se pot identifica stocuri curente, stocuri sezoniere şi stocuri de siguranţă şi se pot calcula o serie de indicatori care pot oferi o imagine a activităţii de stocare. În mod tradiţional, managementul stocurilor reprezintă o provocare deoarece are un impact direct atât asupra costurilor, cât şi asupra nivelului de serviciu. Variaţiile neprevăzute ale cererii şi ofertei conduc la necesitatea menţinerii stocurilor în diferite verigi ale lanţului logistic pentru a răspunde nevoilor clienţilor. În consecinţă, creşterea stocurilor în lanţul logistic va duce la creşterea nivelului de serviciu şi la sporirea veniturilor, dar şi la mărirea costurilor. Cuvinte cheie: •lanţ logistic, •stoc curent, •stoc de siguranţă, • stoc sezonier, •metode de stocare Clasificare JEL: D20, D30, M10
Evaluation of the Role of Inventory Management in Logistics Chain of an Organisation
The operation of inventory management determines the efficiency of storage of products. The progress in techniques and management principles improves the moving load, delivery speed, service quality, operation costs, the usage of facilities and energy saving. Inventory management takes a crucial part in the manipulation of logistics. Reviewing the current condition, a strong system needs a clear frame of logistics and a proper inventory implements and techniques to link the producing procedures. The objective of the paper is to define the role of inventory management in logistics for the reference of further improvement. The research was undertaken to assist logistics managers, researchers and inventory planners to define and comprehend the basic views of logistics and its various applications and the relationships between logistics and inventory.
The impact of vendor managed inventory on transport operations
Transportation Research Part E: Logistics and Transportation Review, 2003
This paper investigates the impact of a Vendor Managed Inventory (VMI) strategy upon transportation operations in a supply chain. Specifically, the issue of batching to enable better use of transport vehicles is studied. A system dynamics methodology is used to develop difference equation models of three scenarios -traditional, internal consolidation and VMI. The holistic nature of inventory management within VMI enables batching to minimise transport demand without negatively impacting the overall dynamic performance of the supply chain. Using the concept of cost escapability, it is shown that transport cost savings are possible in both the short and long term.
International Journal of Supply Chain Management, 2018
— The purpose of this article is to proposed a framework that related to the factors that impacts the logistics performance due to lack of equal agreement on the factors that affecting logistics performance. Factors that been proposed in this article includes inventory management, warehouse management and transportation management. It will also be discussing others general factors that affecting the logistics performance. A comprehensive discussion on all three variables been done in order to provides greater insight on the factors that affecting the logistics performance. These comprehensive reviews include the management of inventory, warehousing and transportation and provides greater definition on the variables terminology that are related. Therefore, a framework has been proposed for further study
An Analysis of Supply Chain Management: Crafting a Plan for Supply Chain and Inventory Management
International Journal of Science, Engineering and Technology, 2024
This study examines supply chain and inventory management practices at IHI Incorporated, a company specializing in turbocharger supply and repair. Using a descriptive and correlational research method, data was collected from 51 respondents selected through purposive sampling. The findings revealed that most employees are male, around 35 years old, with college degrees, and 3-5 years of experience in rank-and-file positions. The assessment of supply chain management highlighted the importance of accurate demand forecasting, product diversification, and efficient distribution channels. Similarly, inventory management was emphasized for cost-effective operations, stressing the need to minimize inventory levels while maintaining adequate safety stocks. Statistical analysis showed a highly significant relationship (r = 0.9999) between supply chain management and inventory operations, indicating their close interdependence. Recommendations for improvement include regular assessments, enhanced inventory tracking systems, interdepartmental collaboration, training initiatives, and fostering a culture of continuous improvement. This study sheds light on supply chain and inventory dynamics at IHI Incorporated, offering actionable insights for enhancing operational efficiency and achieving organizational objectives.
Inventory Reduction at Third Party Logistics Provider
One of the biggest challenges that any manufacturing company faces is logistics networking and the ability to manage seamless forward and backward flow of material and information. This is an enormous task and in order to be successful organizations have developed strategic alliances with 3PL (Third Party Logistics) companies all over the world to manage their logistics operations network[1]. Third party logistics (3PL) has established itself as a significant, growing segment of the logistics industry, with traditional logistics companies as well as new entrants working to carve out niches for themselves as the industry evolves. For any 3PL, to withstand the competition and grow, it should focus on competition, customer, and change. The companies focusing on these three parameters are gradually achieving new heights by making continuous improvements in all operational areas. Adoption of effective internal processes, efficient inventory management, transportation and warehousing prac...
Supply Demand Chain Management
Emergent structures in Supply/Demand Chain Management (SDCM) are the interaction of logistics activities leading to material flow, thereby satisfying the consumer's demand. The logistics area is rapidly developing to create individualized value for the consumer as well as a sustainable growth for the actors involved in the Supply/Demand Chain. Ericsson in Waters (1) maintains that creating customer value has been discussed ever since the 1940s, but distribution channels are often organized by supply activities that have resulted in supply push rather then demand pull. Development in this area has improved with the implantation of new technologies that have provided the actors with real-time information that has resulted in enhanced competitiveness. The use of the information and communication technology (ICT) has increased the awareness of the need to satisfy the consumers' specific requirements. This development can be also seen in the packaging area. Packaging is assumed to have a major influence on logistics in general and on physical distribution in particular. The packaging plays an active role in protecting and creating value from when it is filled at the packer/filler* until the product is emptied by the end-user. This in logistics terms means that the actors involved in packaging must play an important and proactive part in maintaining efficiency in logistics.
Supply Chain Management Problems: A Review
2007
Supply chain management (SCM) deals with flow management of funding, information, and material. It has been attended to in last decade or so more than ever since it can reduce total cost of the entire system while increasing customer satisfaction level. There are numerous issues in SCM, yet, in this paper, just only four, namely, Inventory management, Facility location, Information technology, and Sourcing, are discussed. The objective of Inventory management is to determine appropriate policies and strategies to answer the question of how much and when to order. Information plays a significant role to link each activity in supply chain to work continuously and effectively so as to enhance performance of the system. Facility location aims at investigating appropriate location to set facilities in order to reduce inventory and transportation cost for the whole supply chain. Sourcing, the major concern of this paper, is a strategy for making decisions either making in-house or outsour...
Journal of Marketing and Consumer Research, 2017
In a fast and continuously dynamic competitive business environment as is the situation in the manufacturing sector, manufacturing firms are expected to give more consideration to their logistics management applications in order to have higher production efficiency and achieve better competitive advantage. Thus, this study empirically examined the relationship between logistics management and performance of 122 selected firms within Rivers State, Nigeria. The data from the questionnaire were analyzed through the use of mean, Pearson's moment correlation and t-statistics to test the relationship between the variables of the study. The findings showed that logistics management has an influence on the rate of production output, market share and profitability. More so, inventory and warehouse management helps in eliminating production short-outs; enhances effectiveness of the production system and improves performance of manufacturing firms. Therefore, firms should reorganize their warehousing and inventory systems to suit specific needs of product demand to involve sustainable increase production output, sales and market share.