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Inventory inaccuracies in the wholesale supply chain

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  • Rekik, Yacine
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    Abstract

    The inventory level shown in the Information System contrary to popular belief and assumptions in most academic papers and in spite of the considerable amounts invested in information technology, is often inaccurate. The inventory inaccuracy occurs when the inventory shown in the Information System is not in agreement with the actually available inventory. In this paper, we first describe the major factors generating inventory inaccuracy. Then, we provide situations permitting to manage an inventory system subject to errors. We provide a general framework permitting to model the inventory inaccuracy issue. In particular, we link the inaccuracy issue with the well known random yield problem. The shown link permits us to derive the optimal ordering policy of an inventory framework where demand satisfaction is done based on the inventory records (which are subject to inaccuracies). We also propose an analysis permitting to show the added value of an advanced identification system such as the RFID technology.

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    File URL: http://www.sciencedirect.com/science/article/pii/S0925527310000642
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    Bibliographic Info

    Article provided by Elsevier in its journal International Journal of Production Economics.

    Volume (Year): 133 (2011)
    Issue (Month): 1 (September)
    Pages: 172-181

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    Handle: RePEc:eee:proeco:v:133:y:2011:i:1:p:172-181

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    Web page: http://www.elsevier.com/locate/ijpe

    Related research

    Keywords: Inventory inaccuracy General framework Random yield problem Wholesale context RFID technology;

    References

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    1. Donald L. Iglehart & Richard C. Morey, 1972. "Inventory Systems with Imperfect Asset Information," Management Science, INFORMS, vol. 18(8), pages B388-B394, April.
    2. Sahin, Evren & Dallery, Yves, 2009. "Assessing the impact of inventory inaccuracies within a Newsvendor framework," European Journal of Operational Research, Elsevier, vol. 197(3), pages 1108-1118, September.
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    Citations

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    Cited by:
    1. Zhou, Wei & Piramuthu, Selwyn, 2012. "Manufacturing with item-level RFID information: From macro to micro quality control," International Journal of Production Economics, Elsevier, vol. 135(2), pages 929-938.
    2. Kaman, Cumhur & Savasaneril, Secil & Serin, Yasemin, 2013. "Production and lead time quotation under imperfect shop floor information," International Journal of Production Economics, Elsevier, vol. 144(2), pages 422-431.
    3. Grunow, Martin & Piramuthu, Selwyn, 2013. "RFID in highly perishable food supply chains – Remaining shelf life to supplant expiry date?," International Journal of Production Economics, Elsevier, vol. 146(2), pages 717-727.
    4. Xu, Jinpeng & Jiang, Wei & Feng, Gengzhong & Tian, Jun, 2012. "Comparing improvement strategies for inventory inaccuracy in a two-echelon supply chain," European Journal of Operational Research, Elsevier, vol. 221(1), pages 213-221.
    5. Piramuthu, Selwyn & Wochner, Sina & Grunow, Martin, 2014. "Should retail stores also RFID-tag ‘cheap’ items?," European Journal of Operational Research, Elsevier, vol. 233(1), pages 281-291.

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