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Article: Coordinated replenishment strategies in inventory/distribution systems

TitleCoordinated replenishment strategies in inventory/distribution systems
Authors
KeywordsInventory management
Multiechelon inventory systems
Order coordination
Supply chain management
Issue Date2007
PublisherINFORMS. The Journal's web site is located at http://mansci.pubs.informs.org
Citation
Management Science, 2007, v. 53 n. 2, p. 293-307 How to Cite?
AbstractIn this paper, we study the impact of coordinated replenishment and shipment in inventory/distribution systems. We analyze a system with multiple retailers and one outside supplier. Random demand occurs at each retailer, and the supplier replenishes all the retailers. In traditional inventory models, each retailer orders directly from the supplier whenever the need arises. We present a new, centralized ordering policy that orders for all retailers simultaneously. The new policy is equivalent to the introduction of a warehouse with no inventory that is in charge of the ordering, allocation, and distribution of inventory to the retailers. Under such a policy, orders for some retailers may be postponed or expedited so that they can be batched with other retailers' orders, which results in savings in ordering and shipping costs. In addition to the policy we propose for supplying inventory to the retailers, we also consider three other policies that are based on these well-known policies in the literature: (a) can-order policy, (b) echelon inventory policy, and (c) fixed-replenishment interval policy. Furthermore, we create a framework for simultaneously making inventory and transportation decisions by incorporating the transportation costs (or limited truck capacities). We numerically compare the performance of our proposed policy with these policies to identify the settings in which each policy would perform well. © 2007 INFORMS.
Persistent Identifierhttp://hdl.handle.net/10722/161508
ISSN
2015 Impact Factor: 2.741
2015 SCImago Journal Rankings: 4.384
ISI Accession Number ID
References

 

DC FieldValueLanguage
dc.contributor.authorGürbüz, MÇen_HK
dc.contributor.authorMoinzadeh, Ken_HK
dc.contributor.authorZhou, YPen_HK
dc.date.accessioned2012-08-30T06:18:20Z-
dc.date.available2012-08-30T06:18:20Z-
dc.date.issued2007en_HK
dc.identifier.citationManagement Science, 2007, v. 53 n. 2, p. 293-307en_HK
dc.identifier.issn0025-1909en_HK
dc.identifier.urihttp://hdl.handle.net/10722/161508-
dc.description.abstractIn this paper, we study the impact of coordinated replenishment and shipment in inventory/distribution systems. We analyze a system with multiple retailers and one outside supplier. Random demand occurs at each retailer, and the supplier replenishes all the retailers. In traditional inventory models, each retailer orders directly from the supplier whenever the need arises. We present a new, centralized ordering policy that orders for all retailers simultaneously. The new policy is equivalent to the introduction of a warehouse with no inventory that is in charge of the ordering, allocation, and distribution of inventory to the retailers. Under such a policy, orders for some retailers may be postponed or expedited so that they can be batched with other retailers' orders, which results in savings in ordering and shipping costs. In addition to the policy we propose for supplying inventory to the retailers, we also consider three other policies that are based on these well-known policies in the literature: (a) can-order policy, (b) echelon inventory policy, and (c) fixed-replenishment interval policy. Furthermore, we create a framework for simultaneously making inventory and transportation decisions by incorporating the transportation costs (or limited truck capacities). We numerically compare the performance of our proposed policy with these policies to identify the settings in which each policy would perform well. © 2007 INFORMS.en_HK
dc.languageeng-
dc.publisherINFORMS. The Journal's web site is located at http://mansci.pubs.informs.orgen_HK
dc.relation.ispartofManagement Scienceen_HK
dc.subjectInventory managementen_HK
dc.subjectMultiechelon inventory systemsen_HK
dc.subjectOrder coordinationen_HK
dc.subjectSupply chain managementen_HK
dc.titleCoordinated replenishment strategies in inventory/distribution systemsen_HK
dc.typeArticleen_HK
dc.identifier.emailZhou, YP: yongpin@hku.hken_HK
dc.identifier.authorityZhou, YP=rp01614en_HK
dc.description.naturelink_to_subscribed_fulltext-
dc.identifier.doi10.1287/mnsc.1060.0627en_HK
dc.identifier.scopuseid_2-s2.0-33847332080en_HK
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-33847332080&selection=ref&src=s&origin=recordpageen_HK
dc.identifier.volume53en_HK
dc.identifier.issue2en_HK
dc.identifier.spage293en_HK
dc.identifier.epage307en_HK
dc.identifier.isiWOS:000248744400009-
dc.publisher.placeUnited Statesen_HK
dc.identifier.scopusauthoridGürbüz, MÇ=16021757600en_HK
dc.identifier.scopusauthoridMoinzadeh, K=6701361952en_HK
dc.identifier.scopusauthoridZhou, YP=9037956000en_HK

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