Suchergebnisse

This paper deals with developing new heuristic ordering rules for managing multi‐item, single vendor inventory systems with random demands. The inventory position for each item is continuously reviewed, and an order is placed when the projected stockout cost for all items exceeds a certain multiple of the average ordering cost. Rules are offered for determining which items to include in the order, and also for determining order‐up‐to level for each item. These rules involve two parameters, whose optimal values are estimated by simulation. Such systems are encountered in many real life situations, such as independent convenience stores, mom and pop grocery stores, ethnic grocery stores, neighborhood hardware stores, small independent retailers and family pharmacies. Many of these systems are grossly mismanaged from an inventory point of view. Ordering rules developed in this paper are the back‐bone of a proposed inventory and order management software required to support such small business operations.

Focuses on schemes to reduce inventory miscounts from the
operational management point of view. An internal audit procedure is
devised for identifying most of the data‐entry errors, which are one of
the main causes of inventory miscounts during the flow of material
through in‐transit stations. Inventory miscount errors, which escape the
internal audit procedure, are further reduced through cycle counting.
Divides stations with a material‐flow network into two categories
– external and internal stations. Further subdivides internal
stations into in‐transit and stock stations. Identifies and corrects
most of the data‐entry errors by monitoring the compliance of certain
rules individually at each in‐transit station and collectively at all
in‐transit stations. Optimally determines the frequencies for cycle
counting by minimizing the sum of the cycle‐counting cost and the
penalty cost owing to additional stockouts and over‐stocking on account
of inventory miscounts. The suggested internal procedure and cycle
counting with revised frequencies were implemented in a company dealing
with spare‐parts distribution; realizing an annual saving of about
$1 million just a year after the implementation of the programme.

A mixed two‐level system is considered for parts
distribution. Three approaches are studied for the
division of the total item set S into subsets S⊂1 and
S⊂2. The subset S⊂1 includes items directly served
by the company to the end‐users and subset S⊂2
includes items served through dealers. These
approaches are dealer item‐based, company item‐based
and system‐based.
The systems approach is compared with the two
item‐based approaches from the dealer′s and
company′s point of view. A market sensitivity
model is developed in the systems approach,
which considers the effect of customer service
(primarily average delivery time and number of
items in set S⊂2) on the captured market share.
Optimisation of total expected profit, based on a
system′s approach, leads to higher profit levels
and to a larger subset S⊂2 than obtained from the
two item‐based approaches.