Search results

Inventory control problems often result in record and physical count discrepancies which may ultimately lead to higher than preferred inventory levels. Conversely, accurate inventory records result in lower inventory investment and are the foundation for forecasting, ordering, tracking, vendor evaluation, and dead stock administration programmes. Guidelines, based on general systems theory, to identify the presence of inventory control problems in both physical operations and information systems areas are presented. Next, procedures to correct control problems are discussed. These include the formation of a permanent taskforce, corporate‐wide education on the importance of record accuracy, and the development of a general management plan based on sound principles for effective inventory control. Recent experiences within a telecommunications company having inventory control problems are used as a case example to illustrate specific points.

To develop just‐in‐time (JIT) purchasing threshold value (JPTV) models for ready mixed concrete (RMC) suppliers to decide whether or not to switch from an economic order quantity (EOQ) approach to a JIT purchasing approach for the purchase of their raw materials, when a price discount is offered.

The existing economic order quantity (EOQ) with a price discount versus the JIT purchasing cost comparative models neglect some important cost components under the inventory management systems, for example, the out‐of‐stock costs and the impact of inventory policy on product quality and production flexibility. In addition, these models do not empirically study the capability of an inventory facility to hold the EOQ‐JIT cost indifference point's amount of inventory. These models suggest that the JIT purchasing approach is always preferred to the EOQ approach when the JIT purchasing approach can capitalize on physical plant space reduction. The JPTV models developed in this study overcome the two limitations of the existing EOQ and JIT purchasing cost comparative models.

By developing the JPTV models, this study suggests that the theoretical advantages of JIT purchasing may have been overstated.

The field studies conducted in the RMC industries in Chongqing, China and Singapore supported the propositions in this study. The JPTV models, if adopted, would help to enhance performance in the RMC industries in other cities as well.

This research aims to consider the impact of common inventory system inaccuracies that occur in retail outlets on the inventory levels, fill rate, and service level of those outlets by simulating daily customer demand and random error in the inventory system.

The simulation experiments vary the amount of inventory system error, the frequency of inventory record error correction, the size of the daily demand, the number of days in the replenishment system's review interval, and the replenishment system's customer service level.

Inventory system error and the frequency with which the error is corrected are statistically significant for fill rate and service level. Thus, inaccuracies in inventory levels affect a retail outlet's ability to service its customers, though at the single SKU level, the results do not indicate a practical impact due to countervailing effects.

Retail outlets must be aware that error exists and can influence the behavior of their replenishment systems, but the overall impact may not be as significant as it might appear.

This research extends prior work on the effects of inventory inaccuracies and clarifies the debate pertaining to their ultimate effects on retail performance outcomes.

Unlike manufacturing firms where the production of goods can be adjusted according to the demand of customers, hospitality firms do not have the ability to alter the capacity of the changing demand of guests in a short period of time. Given the relatively fixed capacity or supply, maximizing revenue through inventory control is essential for hospitality operations. This chapter covers operations inventory control extracted from the field of revenue management. First, the concept of capacity management and planning is enclosed and various capacity management tactics and inventory control strategies are explored. Next, the management and principles of space inventory through inventory-based restrictions, strategic pricing, displacement analysis, and distribution channel management are addressed. Finally, the respective applications of these principles, strategies, and tactics in several hospitality sectors are discussed.

A survey of 372 logistics managers in different industries revealed multiple outsourcing linkages among logistics activities. These results are consistent with previous findings that suggest that firms can improve customer service and reduce costs by outsourcing multiple logistics functions. The results are also consistent with previous research on the role that improved coordination of information and material flows have in the achievement of economies of scale and economies of scope. Future research developments in the field of logistics outsourcing are also proposed.

The purpose of this paper is to focus on the effectiveness of the inventory audit process to manage operational issues related to inventory errors in retail stores. An evaluation framework is proposed based on developing an error profile of store inventory using product attributes and inventory information.

A store inventory error profile is developed using data on price, sales, popularity, replenishment cycle, inventory levels and inventory errors. A simulation model of store inventory management system grounded in empirical data is used to evaluate the effectiveness of the inventory audit process in a high SKU-variety retail store. The framework is tested using a large transaction data set comprised of over 200,000 records for 7,400 SKUs.

The results show that store inventory exhibits different inventory error profile groups that would determine the effectiveness of store inventory audits. The results also identify an interaction effect between store inventory policies and replenishment process that moderates the effectiveness of inventory audits.

The analysis is based on data collected from a single focal firm and does not cover all the different segments of the retail industry. However, the evaluation framework presented in the paper is fully generalizable to different retail settings offering opportunity for additional studies.

The findings about the role of different error profile groups and the interaction effect of store audits with inventory and store replenishments would help retailers incorporate a more effective inventory audit process in their stores.

This paper presents a novel approach that uses store inventory profiles to evaluate the effectiveness of inventory audits. Unlike previous papers, it is the first empirical study in this area that is based on inventory error data gathered from multiple audits that identify the interaction effect of inventory policy and replenishments on the inventory audit process.

To redesign the spare parts (MRO) inventory management at Company XYZ's warehouse, considering the conditions after the COVID-19 pandemic.

To address this research project, the authors integrated three methodologies: action research, Lean Six Sigma (DMAIC) and Cross Industry Standard Process for Data Mining. These methodologies integrated the Lean Six Sigma (LSS) 4.0 framework applied in this project.

The spare parts inventory value was reduced by 15%, and inventory turnover increased by 120% without negatively impacting the internal service level.

Practitioners leading or participating in continuous improvement projects (CIPs) should consider data quality (data available and data trustworthiness), problem-solving approach and target area involvement to achieve CIP goals. Otherwise, the LSS 4.0 could fail or extend its duration by several weeks or months.

This project shows the importance of controlling a target area before deciding to conduct a LSS 4.0 project. To address this problem, the LSS 4.0 team implemented 5S during the measure phase of the DMAIC. Also, this project offers significant practitioner and theoretical contributions to the body of knowledge about LSS 4.0.

The purpose of this paper is to explore the prevalence of somatisation as a determinant of burnout amongst drug and alcohol staff in the UK.

The study employed a cross-sectional design utilising a self-completion online questionnaire. Data were collected from substance misuse workers across England and Wales. In total, 165 responses were eligible for analysis, yielding a response rate of 5 per cent. Burnout and somatization were measured with Maslach’s Burnout Inventory and the Physical Symptoms Inventory.

The prevalence of somatic symptoms was relatively low in the sample studied. The reported levels of burnout were moderate. Personal accomplishment remained high in the sample. There was a strong association between burnout and incidence of stress-related somatic symptoms, with higher levels of burnout correlating with multiple symptoms.

It was not possible to determine the extent of non-response bias, as at the time of the study there was no information available relating to the characteristics of drug and alcohol staff in the selected services. Therefore, as the response rate was very low (5 per cent) it was recognised that non-response bias might have affected the findings, in such way that non-respondents may have differed in their experiences of work stress, satisfaction, burnout and health outcomes.

Despite the limitations, the study provided practical information relating to burnout vulnerability and associated physical symptoms in this specific occupational group. These findings can support employers to address staff wellbeing with a view to prevent burnout and reduce existing levels of burnout and related somatic symptoms, and improve job performance, job satisfaction and staff retention through making appropriate adjustments, such as developing staff-wellbeing programmes. These adjustments could potentially contribute to improvement in substance misuse practice, through maintenance of healthy and satisfied workforce.

There are very few studies looking at burnout in drug and alcohol staff. This study is also novel in a way that it reveals correlations between a variety of specific stress-related physical symptoms and the three components of burnout.

Aims to examine the four different management accounting systems or sets that existed at the Hudson's Bay Company (HBC) during the 1670‐2005 period with Burns and Scapens' institution‐based framework of management accounting change.

A case study was used with comprehensive archival evidence coming mainly from the Hudson's Bay Company Archives (HBCA) and the HBC's private archive for 1670‐1970 and from interviews with retired and existing senior managers at the HBC for 1970‐2005.

The findings indicated that Burns and Scapens' framework was helpful. Institutions did prevent management accounting changes, even when seriously needed. Under certain conditions, institutions do not resist management accounting changes. Six suggestions are provided for extending and refining Burns and Scapens framework.

Although the 325 years of evidence was uniquely rich, it was still a case study of a single firm.

Management accounting is slow to change because of institutions.

Management accounting change is very much path‐dependent. Changes occur in management accounting because of major external changes such as competition and modernization. Also, management accounting changes come from the introduction of taken‐for‐granted external techniques such as budgeting, capital budgeting, and planning.

Inventory is a crucial part of a systematic supply chain of a business. Small firms mostly neglect inventory management (IM) by accumulating excessive inventory for a time. The study aims to examine the IM practices of small and medium enterprises (SMEs) in Bangladesh.

The study applied a qualitative case study design. Data were collected from ten SME owners in Bangladesh. The study employed a purposive sampling technique to collect data. This study used semi-structured interviews to generate data. The NVivo software was used to analyze the data.

The findings show that most SME business owners collect raw materials from the local market. Along with the local sources, they collect raw materials from international markets. Some SME entrepreneurs collect raw materials throughout the country as they dealt with recycled products. Frequently, they used digital technologies and online media to manage raw materials. SME owners could not buy many raw materials due to financial crisis, wastage, and damage, leading to a ratio of 10–15% losses.

This research contributes greatly to the government, SME Foundation, and trade associations concerning the SME IM system. The study recommends the government should reduce the tax rate on importing SME raw materials and inventories and exporting SME products.

This is the first study that focuses on the IM systems of SMEs in Bangladesh.