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Article
Publication date: 4 February 2019

Yong Ye and Yuanqin Ge

The research mainly aims at the hotspot of inventory management by knowledge mapping and provides a visualization reference in this research field.

Abstract

Purpose

The research mainly aims at the hotspot of inventory management by knowledge mapping and provides a visualization reference in this research field.

Design/methodology/approach

First, inventory management journals during 1986 to 2017 were selected as the research object and text formatting in the Web of Science (WOS) database is exported. Then inventory management knowledge mapping is done and clustering keywords are extracted by using CiteSpace and VOSviewer software. Based on co-word analysis, the three special clusters are exported: inventory optimization strategy, inventory pricing and inventory technology. Besides, the clustering structure and time evolution are analysed. Finally, bibliographic item co-occurrence matrix builder (BICOMB) was used to extract the “journal” and “researchers” keywords in the inventory management research fields. Setting three parameters such as the cited half-life, centrality, frequency and keywords for data mining, it can infer the trend keywords of future research.

Findings

Results showed that inventory management research has been abundant in literature over the past 30 years and has experienced a change from focusing on inventory optimization strategy to inventory pricing and inventory technology in process. It shows that inventory management research focused on the classic topics and includes economic order quantity, dynamic pricing, design and technology, and the new topics include channel coordination, hierarchical price and simulation.

Research limitations/implications

Based on knowledge mapping, this study is still relatively macro and cannot cover all areas of inventory management. This study only investigated the state of correlational research in WOS and Google Trends and not additional databases.

Originality/value

The current research mainly builds on knowledge mapping for the research hotspot of inventory management and provides visual references for future research in this field.

Details

The Electronic Library, vol. 37 no. 1
Type: Research Article
ISSN: 0264-0473

Keywords

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Article
Publication date: 29 May 2020

H. Niles Perera, Behnam Fahimnia and Travis Tokar

The success of a supply chain is highly reliant on effective inventory and ordering decisions. This paper systematically reviews and analyzes the literature on inventory

Abstract

Purpose

The success of a supply chain is highly reliant on effective inventory and ordering decisions. This paper systematically reviews and analyzes the literature on inventory ordering decisions conducted using behavioral experiments to inform the state-of-the-art.

Design/methodology/approach

This paper presents the first systematic review of this literature. We systematically identify a body of 101 papers from an initial pool of over 12,000.

Findings

Extant literature and industry observations posit that decision makers often deviate from optimal ordering behavior prescribed by the quantitative models. Such deviations are often accompanied by excessive inventory costs and/or lost sales. Understanding how humans make inventory decisions is paramount to minimize the associated consequences. To address this, the field of behavioral operations management has produced a rich body of research on inventory decision-making using behavioral experiments. Our analysis identifies primary research clusters, summarizes key learnings and highlights opportunities for future research in this critical decision-making area.

Practical implications

The findings will have a significant impact on future research on behavioral inventory ordering decisions while informing practitioners to reach better ordering decisions.

Originality/value

Previous systematic reviews have explored behavioral operations broadly or its subdisciplines such as judgmental forecasting. This paper presents a systematic review that specifically investigates the state-of-the-art of inventory ordering decisions using behavioral experiments.

Details

International Journal of Operations & Production Management, vol. 40 no. 7/8
Type: Research Article
ISSN: 0144-3577

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Article
Publication date: 16 March 2015

Maxim A Bushuev, Alfred Guiffrida, M. Y. Jaber and Mehmood Khan

This paper aims to give a comprehensive review, summary, and discussion on inventory models that have appeared in the literature. During these past ten decades, no seminal…

Abstract

Purpose

This paper aims to give a comprehensive review, summary, and discussion on inventory models that have appeared in the literature. During these past ten decades, no seminal paper reviewing the field of inventory lot sizing has even been published. This limitation has been identified in the literature by several researchers over the years, with the sheer volume of the number of published inventory lot sizing models acting as a factor which has limited a research endeavor to review the literature on inventory lot sizing models.

Design/methodology/approach

This article reviews research on inventory lot size models and provides a review of previously published literature review papers on inventory models. Based on this initial review, the literature extending current research practices on inventory modeling in supply chains and in sustainable practices is presented. Directions for expanding research in these two areas are examined in light of concerns expressed in the historical use of inventory models and in light of a new inventory research paradigm.

Findings

In our paper, we have adopted a novel strategy to overcome this limitation by focusing our review on a review of inventory lot sizing review papers.

Originality/value

By adopting the methodology of reviewing published inventory review papers, we can contribute a comprehensive review of the inventory lot sizing literature that serves to provide in one paper a consolidation of inventory research that can serve as a single source to keep researchers up to date with the research developments in inventory lot sizing models. We also identify gaps in the field which could stimulate new research agendas in the areas of supply chain management and sustainable inventory practices.

Details

Management Research Review, vol. 38 no. 3
Type: Research Article
ISSN: 2040-8269

Keywords

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Article
Publication date: 1 January 1998

Sunil Babbar and Sameer Prasad

Lays a foundation for a comprehensive awareness and understanding of research in the area of international supply chain management. More specifically, reviews publications…

Abstract

Lays a foundation for a comprehensive awareness and understanding of research in the area of international supply chain management. More specifically, reviews publications constituting a decade of the most recent research in the three areas of international purchasing, inventory management and logistics in 22 leading academic and practitioner journals for the period 1986 through 1995. Through classification and review of this literature, enables a better understanding of this vast field while simultaneously making available a valuable source of information for academicians and practitioners to draw from. Discusses key research findings, provides an overall assessment of the research in these areas and shapes an agenda for future research by identifying important gaps in the literature.

Details

International Journal of Operations & Production Management, vol. 18 no. 1
Type: Research Article
ISSN: 0144-3577

Keywords

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Article
Publication date: 6 August 2018

Vaibhav Chaudhary, Rakhee Kulshrestha and Srikanta Routroy

The purpose of this paper is to review and analyze the perishable inventory models along various dimensions such as its evolution, scope, demand, shelf life, replenishment…

Abstract

Purpose

The purpose of this paper is to review and analyze the perishable inventory models along various dimensions such as its evolution, scope, demand, shelf life, replenishment policy, modeling techniques and research gaps.

Design/methodology/approach

In total, 418 relevant and scholarly articles of various researchers and practitioners during 1990-2016 were reviewed. They were critically analyzed along author profile, nature of perishability, research contributions of different countries, publication along time, research methodologies adopted, etc. to draw fruitful conclusions. The future research for perishable inventory modeling was also discussed and suggested.

Findings

There are plethora of perishable inventory studies with divergent objectives and scope. Besides demand and perishable rate in perishable inventory models, other factors such as price discount, allow shortage or not, inflation, time value of money and so on were found to be combined to make it more realistic. The modeling of inventory systems with two or more perishable items is limited. The multi-echelon inventory with centralized decision and information sharing is acquiring lot of importance because of supply chain integration in the competitive market.

Research limitations/implications

Only peer-reviewed journals and conference papers were analyzed, whereas the manuals, reports, white papers and blood-related articles were excluded. Clustering of literature revealed that future studies should focus on stochastic modeling.

Practical implications

Stress had been laid to identify future research gaps that will help in developing realistic models. The present work will form a guideline to choose the appropriate methodology(s) and mathematical technique(s) in different situations with perishable inventory.

Originality/value

The current review analyzed 419 research papers available in the literature on perishable inventory modeling to summarize its current status and identify its potential future directions. Also the future research gaps were uncovered. This systemic review is strongly felt to fill the gap in the perishable inventory literature and help in formulating effective strategies to design of an effective and efficient inventory management system for perishable items.

Details

Journal of Advances in Management Research, vol. 15 no. 3
Type: Research Article
ISSN: 0972-7981

Keywords

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Article
Publication date: 9 April 2020

Linh Nguyen Khanh Duong, Lincoln C. Wood and William Yu Chung Wang

This research proposes a decision framework for using non-financial measures to define a replenishment policy for perishable health products. These products are perishable…

Abstract

Purpose

This research proposes a decision framework for using non-financial measures to define a replenishment policy for perishable health products. These products are perishable and substitutable by nature and create complexities for managing inventory. Instead of a financial measure, numerous measures should be considered and balanced to meet business objectives and enhance inventory management.

Design/methodology/approach

This research applies a multi-methodological approach and develops a framework that integrates discrete event simulation (DES), analytic hierarchy process (AHP) and data envelopment analysis (DEA) techniques to define the most favourable replenishment policy using non-financial measures.

Findings

The integration framework performs well as illustrated in the numerical example; outcomes from the framework are comparable to those generated using a traditional, financial measures-based, approach. This research demonstrates that it is feasible to adopt non-financial performance measures to define a replenishment policy and evaluate performance.

Originality/value

The framework, thus, prioritises non-financial measures and addresses issues of lacking information sharing and employee involvement to enhance hospitals' performance while minimising costs. The non-financial measures improve cross-functional communication while supporting simpler transformations from high-level strategies to daily operational targets.

Details

Industrial Management & Data Systems, vol. 120 no. 5
Type: Research Article
ISSN: 0263-5577

Keywords

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Article
Publication date: 14 March 2008

Amine Ayad

This paper seeks to examine key factors within the control of store managers to optimizing inventory and store results.

Abstract

Purpose

This paper seeks to examine key factors within the control of store managers to optimizing inventory and store results.

Design/methodology/approach

This research integrates principles of action research and traditional research in a big box retail environment.

Findings

While this study confirms theories that link inventory to sales, merchandise selection, and technology, it emphasizes the role of people. Furthermore, it proves that different stores within same companies and different departments within same stores deliver different results due, mainly, to human factors – specifically, critical thinking, functional knowledge, and leadership.

Research limitations/implications

This study does not address inventory assortment, space allocation, automatic replenishment, planograms design, technology, logistics, and other factors that may impact inventory but mostly outside the control of big box store managers.

Originality/value

This study proposes practical tools and ideas to optimizing inventory and business results in big‐box stores. It also serves as an example of extracting and verifying retail management theory from practice. As such, it benefits both practitioners and academics.

Details

International Journal of Retail & Distribution Management, vol. 36 no. 3
Type: Research Article
ISSN: 0959-0552

Keywords

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Article
Publication date: 15 August 2008

Brent D. Williams and Travis Tokar

The purpose of this paper is to provide a review of inventory management articles published in major logistics outlets, identify themes from the literature and provide…

Abstract

Purpose

The purpose of this paper is to provide a review of inventory management articles published in major logistics outlets, identify themes from the literature and provide future direction for inventory management research to be published in logistics journals.

Design/methodology/approach

Articles published in major logistics articles, beginning in 1976, which contribute to the inventory management literature are reviewed and cataloged. The articles are segmented based on major themes extracted from the literature as well as key assumptions made by the particular inventory management model.

Findings

Two major themes are found to emerge from logistics research focused on inventory management. First, logistics researchers have focused considerable attention on integrating traditional logistics decisions, such as transportation and warehousing, with inventory management decisions, using traditional inventory control models. Second, logistics researchers have more recently focused on examining inventory management through collaborative models.

Originality/value

This paper catalogs the inventory management articles published in the major logistics journals, facilitates the awareness and appreciation of such work, and stands to guide future inventory management research by highlighting gaps and unexplored topics in the extant literature.

Details

The International Journal of Logistics Management, vol. 19 no. 2
Type: Research Article
ISSN: 0957-4093

Keywords

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Article
Publication date: 9 March 2012

Sebastian H.W. Stanger, Richard Wilding, Nicky Yates and Sue Cotton

Managing perishable inventories is a trade‐off of shortages and lost sales against wastage. This paper aims to identify what drives good management of perishables within…

Abstract

Purpose

Managing perishable inventories is a trade‐off of shortages and lost sales against wastage. This paper aims to identify what drives good management of perishables within the supply chain using the example of blood inventory management in hospitals.

Design/methodology/approach

Seven case studies with hospital transfusion laboratories in the UK blood supply chain were carried out in order to explore how perishable inventories are managed. The case studies identify drivers for good performance in perishable inventories.

Findings

Six recommendations are developed for how managers can improve perishable inventory performance. These are based around simple management procedures implemented by experienced staff. The case studies develop three propositions that recommend how inventory theory should be embedded in practice.

Research limitations/implications

This research demonstrates that managerial changes and training issues have a significant impact on waste reduction and inventory management performance in perishable supply chains. However, as the case studies focus on the blood supply chain, some caution needs to be applied in generalising these findings beyond the specific context studied.

Practical implications

A multi‐disciplinary approach, combining awareness of the importance of the dynamics of the whole supply chain with good skill and experience, leads to new thinking, which enables staff to make better inventory decisions resulting in better performance and reduced wastage. Managerial changes and training are critical for good inventory performance.

Originality/value

Literature suggests that sophisticated and complex inventory models will drive performance; however, in practice a combination of basic well‐grounded inventory theory with simple management procedures carried out by experienced staff leads to better performance.

Details

Supply Chain Management: An International Journal, vol. 17 no. 2
Type: Research Article
ISSN: 1359-8546

Keywords

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Article
Publication date: 14 June 2011

Sander de Leeuw, Matthias Holweg and Geoff Williams

The purpose of this paper is to investigate the effect of decentralised control on finished goods inventory levels in a distribution system, and to identify the factors…

Abstract

Purpose

The purpose of this paper is to investigate the effect of decentralised control on finished goods inventory levels in a distribution system, and to identify the factors that determine the overall inventory level.

Design/methodology/approach

The authors' study is based on a mixed method approach using both a survey and semi‐structured interviews to assess inventory management practices and firm performance.

Findings

It was found that the common assumptions that distribution outlets or dealers are homogenous and that their behaviour is uniform in response to central control, such as the manufacturer's strategy, do not hold in practice. In fact, the authors show that under conditions of decentralised control, the inventories held at outlet level vary greatly around the aggregate inventory at overall manufacturer level and in this sense bear little resemblance to it. Amongst other conclusions, these findings provide a possible explanation for previous studies' inconclusive evidence on inventory reduction.

Research limitations/implications

The authors' research is based on evidence from the automotive industry in the USA; future research may include a wider industry analysis and geographical scope.

Practical implications

The paper identifies how incentives and decision‐making structures at the outlet level need to be considered in order to derive decisions that are optimal at the supply chain level.

Originality/value

The paper extends the current literature on the determinants of inventory levels by using dealer‐level data, as opposed to manufacturer or firm‐level data in previous studies, thereby identifying possible causes for the previously inconclusive evidence on inventory levels in distribution systems.

Details

International Journal of Physical Distribution & Logistics Management, vol. 41 no. 5
Type: Research Article
ISSN: 0960-0035

Keywords

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