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Inventory Control and Replenishment of Multi-Product Multi-Echelon Based on Time Cost Under JMI Environment

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  • Zhi Chen

    (School of Business Administration, Hunan University, Changsha, China)

  • Chao Ren

    (School of Business Administration, Hunan University, Changsha, China)

  • Ren-long Zhang

    (School of Business Administration, Hunan University, Changsha, China)

  • Mi-Yuan Shan

    (School of Business Administration, Hunan University, Changsha, China)

Abstract

Joint managed inventory is an advanced supply chain inventory management tool, which will effectively tackle the complicated problem between the inventory cost of supply chain and service level. The research on inventory model and its’ control under JMI environment is a hot issue at present. In this paper, the authors deeply discuss the question of the inventory time costs about the multi-product and multi-echelon control model and its’ replenishment strategy under JMI environment. With considering the foundation of JMI and time cost, the authors propose the multi-product multi-echelon inventory cost control model under time cost. Then formulate corresponding replenishment strategy. At last, through a numerical example, the authors discover that the multi-product multi-echelon joint inventory management based on time cost can effectively reduce the total inventory costs and improve the competitiveness of the entire supply chain.

Suggested Citation

  • Zhi Chen & Chao Ren & Ren-long Zhang & Mi-Yuan Shan, 2013. "Inventory Control and Replenishment of Multi-Product Multi-Echelon Based on Time Cost Under JMI Environment," International Journal of Advanced Pervasive and Ubiquitous Computing (IJAPUC), IGI Global, vol. 5(2), pages 19-30, April.
  • Handle: RePEc:igg:japuc0:v:5:y:2013:i:2:p:19-30
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