• 산업공학
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• 제21권3호
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• pp.343-353
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• 2008

Vendor-managed inventory(VMI) is a supply chain strategy to improve the inventory turnover and customer service in supply chain management. Unfortunately, many VMI programs fail because they simply transfer the transactional aspects of placing replenishment orders from customer to vendor. In fact, such VMI programs often degrade supply chain performance because vendors lack capability to plan the VMI operations effectively in an integrated way under the dynamic, complex, and stochastic VMI supply chain environment. This paper presents a decision support system, termed DSSV, for VMI in the retail supply chain. DSSV supports the market forecasting, vendor's production planning, retailer's inventory replenishment planning, vehicle routing, determination of the system operating parameter values, retailer's purchase price decision, and what-if analysis. The potential benefits of DSSV include the provision of guidance, solution, and simulation environment for enterprises to reduce risks for their VMI supply chain operations.

• 경영과학
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• 제25권1호
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• pp.107-121
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• 2008

As to more efficiently manage the inventory in the retail supply chain and to meet the customer demand in a timely manner, vendor-managed inventory (VMI) has been widely accepted, which manages inventory in the retail supply chain via sharing information and collaborating with the retailers. Applying VMI generates vendor-managed inventory/distribution problem (VMIDP), which involves inventory management for both the vendor and the retailers, and the design of vehicle routes for delivery, to minimize the total operating cost in the supply chain. In this paper, we suggest a mixed integer programming (MIP) model to obtain the optimal solution for VMIDP in a two-echelon retail supply chain, and develop an efficient heuristic based on the operating principles of the MIP model. To evaluate the performance of the heuristic, its solution was compared with the one of the MIP model on a total of twenty seven test problems. As a result, the heuristic found optimal solutions on seven problems in a significantly reduced time, and generated a 4.3% error rate of total cost in average for all problems. The heuristic is applied to the case problem of the local famous franchise company together with GIS, showing that it is capable of providing a solution efficiently in a relatively short time even in the real world situation.

• 한국산학기술학회논문지
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• 제9권2호
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• pp.556-563
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• 2008

공급 망 관리의 주요 이슈중의 하나는 재고부족(Shortage)이 허용되고 벤더가 공급자와 구매자 모두의 재고관리를 책임지는 상황 하에서, 재고수준을 결정하는 것이다. 본 연구에서는 두 개의 벤더재고관리 (Vendor managed inventory, 이하 VMI) 모델을 계시하고 각각의 해법을 개발한다. 두 모델 중 하나는 단일 구매자 및 단일 공급자 문제이고, 다른 하나는 두 구매자 및 단일 공급자 문제이다. 본 연구가 제안하는 방법론은 VMI모델이 전통적인 모델과 비교해서 어떠한 상황에서 적은 비용으로 운영될 수 있는지 결정하는 조건들을 유도해 낸다. 또한 수치예제를 통해서 제안된 방법론들의 타당성을 입증해 보인다.

• 산업경영시스템학회지
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• 제40권4호
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• pp.105-111
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• 2017

Vendor Managed Inventory is a well-known vendor-retailer coordination approach in supply chain management where the vendor manages inventory of the retailer and determines the order interval and order quantity for the retailer. To consider practical situation, the upper limit of inventory for the retailer is set. If the inventory level for the retailer exceeds the upper limit, then the penalty cost is charged to the retailer. Furthermore, maximum allowable inventory level is set for the vendor to prevent the vendor from keeping much inventory. Single-vendor multi-retailer supply chain model with upper limit of inventory for vendor and retailers is studied. All the retailers' are assumed to have the common cycle time, and a vendor manages retailers' inventory and replenishes products. The mathematical formulation is introduced to minimize the total cost including the penalty cost violating the upper limit of inventory for retailers with the constraint of maximum allowable inventory level. The solution procedure based on Karush-Kuhn-Tucker (KKT) conditions is derived. KKT conditions are often applied to find an optimal solution of nonlinear programming problem with constraints. An illustrative example is used to show the application of the proposed solution procedure. Furthermore, sensitivity analysis is done to find out the relationship between maximum allowable inventory level and other values such as order quantity, the number of shipment, vendor's cost, retailer's cost, and total cost. As maximum allowable inventory level decreases, the number of shipment decreases but total cost increases. Order quantity has the trend of decline and is affected by the number of shipment.

• 대한산업공학회지
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• 제32권4호
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• pp.382-392
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• 2006

Vendor-managed inventory policy(VMIP) is a supply-chain initiative where the supplier is authorized to manage inventories of items at retail locations. In VMIP, the supplier monitors sales and stock information at retail locations and makes decisions of inventory replenishment and transportation simultaneously. VMIP has been known as an effective supply chain strategy that can realize many of benefits obtainable only in a fully integrated supply chain. However, VMIP does not always lead to lower the supply chain cost. It sometimes generates the total supply chain cost higher than the traditional retailer-managed inventory policy (RMIP). In this paper, we perform a comparison study on RMIP and VMIP in the retail supply chain which consists of a single supplier and a number of retailers. We formulate mixed integer programming models for both RMIP and VMIP with vehicle routing problems and perform computational experiments on various test problems. Furthermore, we derive the conditions which guarantee the dominant position for VMIP with respect to total supply chain cost in the simple retail supply chain.

• 대한안전경영과학회지
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• 제7권4호
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• pp.179-191
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• 2005

Recently, Vendor Managed Inventory(VMI) has been commonly recognized as one of the supply chain application that delivers clear value to the sectors of electic & electronic components. VMI is a process in which a supplier generates orders for its distributor based on demand information sent by the distributor. VMI is providing the benefits of smoother demand, lower inventories(work in process, safety stock) and reduced costs. This study focused on improvement of safety level inventory efficiency by VMI. The results indicated that VMI allowed the company to serve its customers more surely and efficiently.

• 유통과학연구
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• 제14권9호
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• pp.47-64
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• 2016

Purpose - This study reviews the past studies that have researched Vendor Managed Inventory (VMI) as a well-known supply chain collaboration program. The main goals of this study are to figure out how VMI brings significant benefits to the supply chain system and suggest additional areas that future studies would address to discover the true nature of VMI. Research design, data, methodology - This study conducts literature reviews on numerous studies that have researched VMI. The past studies are classified in terms of several main issues that have been commonly addressed by many researchers. This study also identifies three key collaborative features of VMI, which possibly explain why VMI improves the supply chain performance. Results - This study finds out that most past studies focused on a limited research issues about VMI. Many researchers have considered integrated decision making and information sharing to be key features that enables VMI to improve the supply chain performance. Conclusions - Based on the findings from the literature review, this study suggests that future studies on VMI take account of new research issues and pay attention to cost payment that researchers have rarely addressed.

• 디지털융복합연구
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• 제13권9호
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• pp.77-87
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• 2015

VMI(벤더 관리형 재고)는 소매업자에 있는 재고가 제조자나 벤더에 의해 모니터링되고 관리되는 유통채널 시스템이다. 의사결정책임을 공급사슬 위쪽으로 밀어내고 재고 보충결정을 집중화함으로써, 벤더가 전체 공급사슬이 더욱 경쟁력 있게 도와줄 수 있다. 이 연구의 목적은 한국 제조업자에 의한 VMI 수용에 영향을 미치는 요인들을 탐색하기 위한 것이다. 이 연구는 VMI를 도입하는 데에 대한 부담의 선행요인으로써 IT 준비성, 영업비, 정보공유를 제안한다. 또한 이 연구는 중소규모의 제조자들로부터 설문 결과를 수집하였다. 통계적 결과는 운영비용만이 VMI의 수용에 유의미한 영향을 미쳤다는 것을 나타내었다. 그러나 IT 준비성과 정보 공유는 운영비용에 유의미한 영향을 미치는 것으로 나타났고, 결국 VMI 수용에 간접적인 영향이 있었다. 결론으로 이 연구결과의 학문적, 실무적 시사점도 논의되었다.

• 한국경영과학회:학술대회논문집
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• 한국경영과학회 2006년도 추계학술대회
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• pp.661-664
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• 2006

Under a VMI (Vendor Managed Inventory) system, the vendor holds a certain level of control over not only inbound replenishment decisions on stocking but also outbound re-supply decisions. In this situation, vendor faces a better opportunity to synchronize the inventory and transportation decisions. However, shipment consolidation can reduce transportation expenses, but delivery time about the customer comes to be long and a customer service is fallen. Thus, a stock and transportation decision must consider this correlation. This study look into the relevant literature and suggest about further research direction.

• 대한산업공학회지
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• 제34권4호
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• pp.425-432
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• 2008

While the Vendor-Managed Inventory(VMI) is a convenient inventory replenishment policy for the customer company, the supplier usually bears the burden of higher inventory and urgent shipments to avoid shortage. Recently some manufacturers begin to fix the production schedule for the next few days (such as three days). Utilizing that information can improve the efficiency of the VMI. In this study, we present a myopic optimization model using a mixed inter programming; and a heuristics algorithm. We compare the performance of the two proposed methods with the existing (s, S) reorder policy. We consider the total cost as the sum of transportation cost and inventory cost at the customer's site. Numerical tests indicate that the two proposed methods significantly reduce the total cost over the (s, S) policy.