Note on supply chain integration in vendor-managed inventory
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Vendor-managed inventory
Inventory cost
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.
Inventory cost
Perpetual inventory
Distributor
Lead time
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One of the basic problems in supply chain operation is lack of information exchanges related to inventory between vendor and retailer. Vendor managed inventory (VMI) provides a good approach to handle this problem. VMI has been proven to reduce cost and improve customer service level. This research aim is to develop a VMI model for the system with one vendor and one retailer to minimise the total system cost. The model is developed for (t, q) policy where the retailer's cycle time is fixed. Due to the complexity nature of the model, simulation-optimisation using genetic algorithm is employed to determine the decision variables which are the retailer's lot size, the vendor's lot size, and the number of replenishments in a vendor cycle. Numerical experiments are conducted to show how the proposed model works. Sensitivity analysis is also conducted to understand the effects of some input parameters.
Vendor-managed inventory
Inventory cost
Service level
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The paper id about analyzing of three stock management modes such as VMI(Vendor Managed Inventory), JMI (Joint Managed Inventory), CPFR (Collaborative Planning Forecasting and Replenishment).Based on the analysis of three modes, coordinated inventory policy is proposed through construction of collaboration thoughts, collaboration between organizations and the support of information technology.
Vendor-managed inventory
Stock (firearms)
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In order to reduce inventory cost effectively, the vendor management inventory (VMI) is studied in this paper. The inventory problem of supply chain is described, the model of VMI is established, and the optimal solution is obtained. The research in this paper can enrich the supply chain management theory, and help enterprises improve inventory management level.
Vendor-managed inventory
Inventory cost
Perpetual inventory
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In many supply networks, the retailers are reluctant to share information about demand and inventory level to the vendor. This might lead to many difficulties for the vendor in establishing his own order/production plan. Vendor managed inventory (VMI) policy can help to solve that problem. By applying VMI, information sharing is not really a problem for the vendor anymore and this policy have been proven to help reduce total inventory cost as well as improve customer service level in the supply network. In this research, a VMI model for the system with one vendor and multiple retailers will be developed. The main target of the model is to determine the retailer's lot size, the vendor's lot size, the retailer cycle time, and the number of replenishments in a vendor cycle so as to minimise the total system cost. For solution purpose, simulation-optimisation technique using genetic algorithm is employed to help find optimal solutions for the decision variables. Numerical experiments are conducted to show the applicability of the proposed model. Sensitivity analysis is also conducted to examine the effects of some input parameters on the optimal solution.
Vendor-managed inventory
Inventory cost
Service level
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In this paper, we will show that, from the perspective of cost savings VMI allows the companies to cut total inventory-related cost and thus provides a strong incentive for both to integrate their inventory systems. For the supplier handles the combined inventory system, the supplier's inventory costs under VMI are likely to increase. However, we can also show a possibility that the supplier's inventory-related cost with VMI is less than without VMI.
Vendor-managed inventory
Inventory cost
Inventory valuation
Carrying cost
Cycle count
Perpetual inventory
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Using the inventory management in a manufacturing enterprise as the application background, this paper mainly studies on the optimal inventory policy for a part. The planning cycle of this problem is limited, and the demand in each planning cycle follows a discrete distribution. The objective is to minimize the inventory cost, namely, the total of transportation cost, inventory holding cost and penalty cost. Based on (s, S) policy, this paper puts forward two different inventory policies for the problem, and establishes two dynamic programming models accordingly. The numerical examples show that the optimal inventory policy significantly reduces the inventory cost.
Inventory cost
Cycle count
Perpetual inventory
Holding cost
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One of the basic problems in supply chain operation is lack of information exchanges related to inventory between vendor and retailer. Vendor managed inventory (VMI) provides a good approach to handle this problem. VMI has been proven to reduce cost and improve customer service level. This research aim is to develop a VMI model for the system with one vendor and one retailer to minimise the total system cost. The model is developed for (t, q) policy where the retailer's cycle time is fixed. Due to the complexity nature of the model, simulation-optimisation using genetic algorithm is employed to determine the decision variables which are the retailer's lot size, the vendor's lot size, and the number of replenishments in a vendor cycle. Numerical experiments are conducted to show how the proposed model works. Sensitivity analysis is also conducted to understand the effects of some input parameters.
Vendor-managed inventory
Inventory cost
Service level
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Inventory management has always been the essential point in the construction enterprises' management. This paper imports the supply chain management theory into the field of construction enterprises' inventory management. In addition, it applies the Vendor Managed Inventory to run it, uses the inventory with restrictive conditions to optimize, determines the economic and rational stocks, reduces the inventory costs, improves constructive efficiency and helps to enhance the competitiveness.
Vendor-managed inventory
Constructive
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The paper discusses and evaluates some supply chain management models at present,such as VMI(Vendor Managed Inventory),JMI(Jointly Managed Inventory) and CPFR(Collabortive Planning Forecasting and Replenishment).and brings forward the keys in the implementation of supply chain inventory management.
Vendor-managed inventory
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