• Journal of Korean Institute of Industrial Engineers
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• v.37 no.4
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• pp.358-366
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• 2011

Multi-criteria ABC inventory classification, which aims to classify inventory items by considering more than one criterion, is one of the most widely employed techniques for inventory control. The weighted linear optimization (WLO) model proposed by Ramanathan (2006) solves the problem of multi-criteria ABC inventory classification by generating a set of criterion weights for each inventory item and assigning a normalized score to the item for ABC analysis. However, the WLO model has some limitations. First, many inventory items can share the same optimal score, which can hinder a precise classification of inventory items. Second, the model allows too much flexibility in weighting multiple criteria; each item is allowed to choose its own weights so that it can maximize its score. As a result, if an item dominates the others in terms of a certain criterion, it may be classified into a higher class regardless of other criteria by assigning an overwhelming weight to the criterion. Consequently, an item with a high value in an unimportant criterion and low values in others may be inappropriately classified as class A, leading to an inaccurate classification of inventory items. To overcome these shortcomings, we extend the WLO model by using the cross-efficiency method in data envelopment analysis. We claim that the proposed model can provide a more reasonable and accurate classification of inventory items by mitigating the adverse effect of flexibility in the choice of weights and yielding a unique ordering of inventory items.

• Proceedings of the Korean Institute of Information and Commucation Sciences Conference
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• 2021.05a
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• pp.157-158
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• 2021

Big data in the supply chain mainly comes from four aspects. One is the relevant data inevitably generated in the process of product value transfer of enterprises in the supply chain, such as production equipment quality data, planned procurement data, product data, etc; On the other hand, it is derived from the ERP data of various companies in the supply chain; The third is e-commerce data from the customer, and the last is data from external or manually entered data. A third-party data service center analysis and mining the data to predict and control the inventory in the process of supply chain operation. It brings innovation and change of management technology and way of thinking to the whole supply chain in many aspects, and finally achieves the goal of coordinated inventory and zero inventory of the whole supply chain.

• Proceedings of the Korea Society for Simulation Conference
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• 2002.11a
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• pp.101-105
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• 2002

In a traditional hierarchical inventory system, direct orders are the only information for inventory management that is exchanged between the firms involved. But due to the rapid development of modern information technology, it becomes possible for the firms to share more information in real time, e.g. demand and inventory status data. And so the term Supply Chain has emerged because it is seen as an important source of competitive advantage. Now it is possible to challenge traditional approaches to inventory management. In the past, one of the de-facto assumptions for inventory management was that the demand pattern follows a specific distribution function. However, it is undesirable to apply this assumption in real situations because the demand information in the supply chain tends to be distorted due to the bullwhip effect in a supply chain. To overcome this weakness, we propose a new solution method using NN (Neural Network). Our method proceeds in three steps. First, we find the patterns of optimal reorder points by analyzing past data. Second. train the NN using these pattern data and finally decide the reorder point. Using simulation experiment, we show that the proposed solution method gives better result than that of traditional research.

• 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.

• Proceedings of the KSRS Conference
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• 2007.10a
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• pp.576-579
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• 2007

Timber inventory is a good starting point for developing strategies to effectively manage the timberland. In the sale of timberland, pricing is mostly based on this inventory. For a small timberland, inventory by conventional ground survey could be possible. In the case of large and nationwide business transactions, swift and inexpensive inventory is worth to be considered as the conventional methods require more experienced man power, money and time. In the present study, it was aimed to identify the chronicle of timberland such as changes that has occurred owing to silvicultural activities and by other means using the historical aerial photography and satellite data. Historical aerial photos from National Aerial Photography Program (NAPP), National High Altitude Photography (NHAP), Survey Photography and Landsat satellite data were used. Orthophotos were constructed using the DOQQ and DEM from USGS. Simple photo interpretation technique was employed to classify the orthophoto and satellite data. The plantation area was classified into softwood, mixed and hardwood. The timber age and the corresponding acreage details and the changes were also estimated. The result of this study could be more useful to the timberland buyers to better understand the chronicle of timberland of their interest prior to transactions.

• International Journal of Advanced Culture Technology
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• v.3 no.2
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• pp.1-14
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• 2015

The purpose of this paper is to reveal two problems in the existing inventory systems in retail market, and to suggest a Two-Bin System under Automatic Ordering System considering only base-stock. Large retailers already have a sophisticated inventory system based on an automatic ordering principle. However, why does the out-of-stock (OOS) happen in large discount stores in spite of having a good inventory system? This paper suggests two systems after finding the root causes concerning the previous question. For evaluating the performance of each system, the random 200 data set in each sample group was generated from MINITAB 16 and obeyed the Poisson distribution. The existing inventory system in retail market cannot help generating OOS due to indwelling contradiction in itself. The reasons are the ordering deadline and the relationship between ordering quantity and base stock. This paper also demonstrates that these previous studies on inventory fall into the closed loop. Also the paper shows that the performance of the replenishment policy was better than traditional methods dealing with ordering quantity and base stock.

• Journal of Korean Society of Forest Science
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• v.95 no.5
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• pp.539-542
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• 2006

This study confirmed econometrically the causality of forest inventory and roundwood supply using Korean data. In general, forest inventory is included as explanatory variable in roundwood supply function. We checked whether each series is stationary or not before using it in the model, and determined whether the combination of the series is comtegrated. The relationship between forest inventory and roundwood supply was represented by bivariate vector autoregressive model. The causality of forest evidence of the causal relationship between change in forest inventory and change in roundwood supply in Korea. That is, change in forest inventory does not cause change in roundwood supply in Korea. It seems reasonable not to include forest inventory as explanatory variable in roundwood supply function in Korea.

• Proceedings of the Korean Geotechical Society Conference
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• 2008.03a
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• pp.813-820
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• 2008

We have developed inventory database program which is available in the mobile PC. The mobile PC is convenient in terms of portability, data input, modification, practicality of various program and data confirmation in site. By utilizing the inventory database program in mobile PC, we are able to complete database in site. Then, database is converted into the Hangul document and Excel worksheet. Also, based on the above procedure, effective management and utilization of inventory on cut-slope can be achieved.

• Journal of the Korea Society for Simulation
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• v.21 no.3
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• pp.25-33
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• 2012

Ptak & Smith published ORLICKY'S Material Requirement Planning Third Edition in 2011 to correspond the rapidly changed market demand by improving the original MRP based on Theory of Constraints(TOC) replenishment inventory management. This study is to develop the simulation model to decide the proper target inventory level for TOC replenishment inventory management using system dynamics Vensim software. This study shows that the proper target replenishment level is how much significant to manage the inventory by the random sample data simulation. This simulation model will be extended to compare the results of the TOC replenishment inventory management planning with the results of the old MRP planning by the enterprise actual inventory data.

• Journal of Wetlands Research
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• v.14 no.2
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• pp.303-315
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• 2012

This study developed a wetland inventory describing the characteristics and change of Nakdong estuary wetland ecosystem. The data which are used to develop the inventory are Landsat TM(April 1, 1986; June 23, 1987; June 18, 1997), Kompsat(Jan. 12, 2008) and LiDAR(March 1, 2009) images and published monitoring data of Busan metropolitan city. The developed inventory was utilized for the classification of wetland cover, the spatiotemporal analysis of wetland and landscape pattern, the distribution of benthos species etc. Furthermore, the developed 3 dimensional wetland map showed a better way to delineate wetland boundary and understand wetland dynamics. Considering these results, it's concluded that it is possible to use the similar techniques for the development of wetland inventory in Korea.