• The Journal of Society for e-Business Studies
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• v.3 no.2
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• pp.203-217
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• 1998

Supply chain management is defined as "an integrative philosophy to manage the total flow of a distribution channel from the supplier to the ultimate user". There are many differences between traditional systems and supply chain management systems, There are so many advantages applying SCM concept in inventory management field from the viewpoint of information sharing. While each firm try to optimize the inventory individually in traditional systems, SCM focus on optimizing the channel-wide-inventory making effort to reduce the inventory interrelatedly, The more complex your network of suppliers, manufacturers, and distributors, the more you are likely to gain operational efficiencies by attending on inventory management. The inventory stockpiles at the various sites, including both incoming materials and finished products, have complex interrelationships. Efficient and effective management of inventory throughout the supply chain significantly improves the ultimate service provided to the customer. The purpose of this thesis is to develop the integrated inventory management system for the control of channel-wide inventory on the intranet by applying SCM concept.

• 한국디지털정책학회:학술대회논문집
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• 2007.06a
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• pp.349-357
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• 2007

We consider supply chain which consist of one manufacturer, one distributor and N retailers for a single product. This paper determines inventory replenishment period of supply chain using houristic method and propose order policy through re-coordination of inventory replenishment. Also, We develops inventory management model to calculate total cost of supply chain under assumptions of constant demand. The computational results show that the proposed inventory replenishment period and inventory management model is efficient.

• Journal of Digital Convergence
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• v.5 no.1
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• pp.47-53
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• 2007

We consider supply chain which consist of one manufacturer, one distributor and N retailers for a single product. This paper determines inventory replenishment period of supply chain using heuristic method and propose order policy through re-coordination of inventory replenishment. Also, We develops inventory management model to calculate total cost of supply chain under assumptions of constant demand. The computational results show that the proposed inventory replenishment period and inventory management model is efficient.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.6
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• pp.297-302
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• 2022

The current study examines the relationship between inventory management efficiency and financial performance in Saudi Arabian companies. The study collected data from the companies listed on Tadawul (a Saudi Arabian stock exchange) during the period starting from 2016 and ending in 2020. The study uses pooled regression model by incorporating Return on Assets (ROA) and Inventory Turnover Ratio (ITR) as a performance measurement variable and inventory conversion period as an inventory management variable to report the results. The results show a positive and significant association between inventory management and firms' financial growth measured in terms of Return on Assets (ROA). Further, the study reports a positive and significant association between the inventory conversion period and inventory turnover (ITR). This shows that managing inventory efficiently shall positively impact the firm's performance. The other variables, such as debt ratio and gross profit, are positively related to ROA and negatively correlated with ITR. The firm growth is positively associated with both the dependent variables. The results suggest that the management of inventory in Saudi Arabian firms is efficient. Further, the firm size is positively associated with ROA and ITR. This shows a nexus between inventory management efficiency and firms' financial growth in Saudi Arabian companies.

• Korea Journal of Hospital Management
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• v.3 no.1
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• pp.83-99
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• 1998

The purpose of this study is to investigate factors influencing the attitude and satisfaction with inventory management of hospitals. Data were collected from 344 employees in two hospitals located in Seoul and one hospital located in Choong-Chung Do, Korea, using a self-administered questionnaire. Items included in the self-administered questionnaire were hospital and socioeconomic characteristics of personnels such as the level of knowledge, practice, attitude, and satisfaction with inventory management of hospitals. Major findings were as follows; Job position was significantly associated with satisfaction with inventory management. According to age, sex, type of position and aptitude of personnel the level of positive attitude to and satisfaction with inventory management showed significant association. Generally, those who had higher level of knowledge and practice showed a higher tendency toward positive attitude of inventory management, except for those in medical support post. A higher tendency of satisfaction with inventory management was also observed, with the exception of personnel in nurse post. This study showed that major factors affecting attitude toward inventory management are level of knowledge and practice, and factors affecting satisfaction are job position and aptitude. The level of attitude and satisfaction explained by these factors were 46.8% and 12.2%, respectively. According to the results of this study, higher level of knowledge and practice, job position and aptitude appear to be essential for the implementation of effective inventory management. Factors affecting attitude and satisfaction of inventory management should be studied more in depth systematically so that other objective test and measurements can be developed.

• Journal of the Korea Safety Management & Science
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• v.20 no.3
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• pp.37-46
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• 2018

According to enhancement of roles and functions of enterprises' distribution centers, recent trend of distribution centers are specialization and diversification which have generated lots of new distribution center building or expansion of the existing ones and led attention on stock transfer importance in case of distribution center relocation. This thesis is a study for how to reduce stock transfer leadtime in order to minimize business risk and how to increase inventory accuracy when stock ownership is transferred in case of distribution center relocation, and to provide inventory accuracy management methods and inventory in/out management types, detailed definition to evaluate level for inventory accuracy management and pros/cons by inventory in/out management type assuming 'the higher inventory accuracy before stock transfer, the shorter stock transfer leadtime when distribution center is relocated'. This thesis provides detailed procedure to secure an absolute stock transfer leadtime and process to confirm hugh inventory accuracy by stakeholders which should be sloved by Task Force Team for stock transfer in case of distribution center relocation.

• Korean Management Science Review
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• v.34 no.3
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• pp.1-14
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• 2017

This study empirically analyzes the impact of inventory management performance on the energy efficiency in Korean petrochemical companies. The concept of the distance function is used to define the energy efficiency and the estimation of the distance function is performed using the stochastic frontier analysis. The inventory turnover is selected as the variable indicating the inventory management performance of the company. The main results of this study are as follows. First, the inventory turnover has a positive impact on energy efficiency. Second, during the period over 2011~2015, while the gap in energy efficiency among the companies expanded, the average energy efficiency decreased. Third, the average energy efficiency in upstream process companies was greater than downstream process companies and the gap in energy efficiency among downstream process companies was greater than upstream process companies. Fourth, the average marginal effect of inventory turnover on energy efficiency increased gradually from 2011 to 2015. Finally, the average marginal effect of inventory turnover in downstream process companies was greater than upstream process companies, and the gap in the marginal effect of inventory turnover among downstream process companies was greater than upstream process companies. These results together imply the importance of inventory management in terms of energy efficiency.

• Asia-Pacific Journal of Business
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• v.13 no.1
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• pp.185-195
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• 2022

Purpose - This study attempts to analyze the determinants of inventory turnover by applying quantile regression analysis. Design/methodology/approach - By selecting the gross margin, capital intensity, and sale surprise as the determinants of inventory turnover, we investigate their effects on inventory turnover at the several quartiles (10%, 25%, 50%, 75%, 90%) of inventory turnover with quantile regression analysis. Findings - The effects of gross margin and capital intensity on inventory turnover are different for each quartile. But the effects of sale surprise on inventory turnover are not different for each quartile. Research implications or Originality -This study is the first attempt to examine the effects of inventory turnover determinants on inventory turnover by applying quantile regression analysis was not employed in the prior studies. Thus, this study is meaningful in that it shows the possible way to review inventory management strategies that can be applied differently to the firms with different inventory turnover levels.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.43 no.3
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• pp.61-67
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• 2020

The fourth industrial revolution encourages manufacturing industry to pursue a new paradigm shift to meet customers' diverse demands by managing the production process efficiently. However, it is not easy to manage efficiently a variety of tasks of all the processes including materials management, production management, process control, sales management, and inventory management. Especially, to set up an efficient production schedule and maintain appropriate inventory is crucial for tailored response to customers' needs. This paper deals with the optimized inventory policy in a steel company that produces granule products under supply contracts of three targeted on-time delivery rates. For efficient inventory management, products are classified into three groups A, B and C, and three differentiated production cycles and safety factors are assumed for the targeted on-time delivery rates of the groups. To derive the optimized inventory policy, we experimented eight cases of combined safety stock and data analysis methods in terms of key performance metrics such as mean inventory level and sold-out rate. Through simulation experiments based on real data we find that the proposed optimized inventory policy reduces inventory level by about 9%, and increases surplus production capacity rate, which is usually used for the production of products in Group C, from 43.4% to 46.3%, compared with the existing inventory policy.

• KSII Transactions on Internet and Information Systems (TIIS)
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• v.6 no.2
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• pp.515-528
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• 2012

The aim of this article is to provide a study on the issue of inventory inaccuracy and to show the manner in which RFID technology can improve the inventory management performance. The objective of inventory control is to monitor the stock flow of merchandises in order to understand the operating profit and loss. A proper mechanism of inventory control could be made to help the profitability. As RFID is applied to inventory control, it can improve efficiency, enhance accuracy and achieve security. In this paper, we introduce the evolution of different mechanisms of inventory control with RFID system-counting method, collect-all method, and continuous monitoring method. As for improving the accuracy of inventory check during business hours, continuous monitoring is the solution. We introduce the infrastructure of the RFID inventory management system based on M2M architecture can make the inventory be efficiently monitored with instant warnings.