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Effect of Inventory on Supply Chain

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Effect of Inventory on Supply Chain Effect of Inventory on Supply Chain Objectives of the study • When the firms improve their inventory management, what is the reaction of other Factors on supply chain? • How to improve the inventory from cost effective perspective? Method of Data Collection In order to meet the objectives of the study data will be collected from secondary sources. So the financial reports of a manufacturing company will be obtained. Review of literature The Effect of Inventory on Supply Chain Abstract: Supply chain management addresses the management of materials and information across the entire chain from suppliers to producers, distributors, retailers, and customers. In the past few decades, scholars gave ample attention about the impact of inventory on Supply Chain Management (SCM). Roughly speaking, research on supply chain management has been mainly focused on three major issues. One is the behavior of information flow; The second issue deals with inventory management; The third issue is orientated to planning and operations management. In this paper the second issue, namely inventory management will be discussed. The author will follow the phases of classifying inventory; Identify cost factors; Assess cost components; Calculate EOQ; Giving suggestion and effect of inventory on supply chain will be discussed. The result is going to become clear under the analysis of two alternatives by using MCDM (Multiple Criteria Decision Making) method. The conclusion is when optimizing the inventory management; both upstream and downstream activities will run effectively. The Impact of Inventory and Flow Planning Parameters on Supply Chain Performance: An Exploratory Study Abstract: The primary objective of this paper is to study the impact of selected inventory parameters and management techniques on the performance of an expanded and comprehensive retail supply chain. Specifically, we study the sensitivity of supply chain performance to three inventory planning parameters: (i) the forecast error, (ii) the mode of communication between echelons, and (iii) the planning frequency. We achieve this by constructing a detailed simulation model and with data adapted from a case study which we were involved with. The studies conclude that all the three parameters have a significant effect on performance. Increasing forecasting errors and the re-planning frequency decreases service, return on investment, and increases cycle time. Using a mode of communication that facilitates exchange of information between echelons in the supply chain yields a higher level of service when compared to the scenario where the entities in different echelons plan material flows independently. Effects of Inventory Policy on Supply Chain Performance: A Simulation Study of Critical Decision Parameters Abstract: This paper investigates the effects of information sharing and early order commitment on the performance of four inventory policies used by retailers in a supply chain of one capacitated supplier and four retailers. Model parameters and operating conditions are emulated from a local business supplying a standard product to its retailers. Through computer simulation and subsequent analyses, we found that the inventory policy used by the retailers, information sharing, and early order commitment can significantly influence the performance of the supply chain. Out of the four inventory policies examined, the economic order quantity rule is found to be the best for the retailers and the entire supply chain, but periodic order quantity and Silver-Meal provide the best performance for the supplier. The sharing of future order plans by the retailer and the supplier is also shown to be the most effective way for reducing the supplier's cost and improving its service level; however, the magnitude of these benefits achieved is less for the retailers. In addition, early order commitment by the retailers is found to be beneficial to the supplier and retailers in reducing their total cost. Bullwhip Effect in Supply Chains Abstract: We review a range of methodological approaches to solving the bullwhip problem. The bullwhip problem is a dynamic consequence of supply chain structures and replenishment policies. The roles of the structure of the demand process, the treatment of time (continuous v discrete), forecasting techniques and lead-times will be reviewed. In practice, and in the theory, a variety of techniques have been used to smooth the dynamics of supply chains. These include, the use of sophisticated forecasting, pooling of demand and inventories, proportional feedback controllers and full-state feedback systems. Multi-echelon supply chains also present a number of interesting innovations. From the traditional, arms-length trading relationships, information sharing, vendor managed inventory and echelon stock policies can be developed. More sophisticated collaboration and co- ordination mechanisms may also lead to altruistic behavior and result in superior performance. The impact of these procedures will be examined. Finally thoughts on new directions in bullwhip research are presented. Factors Affecting the Level of Trust and Commitment in Supply Chain Relationships Abstract: The objective of this research, therefore, is to study factors affecting the level of trust in supply chain management. Several constructs known to be related to trust in the literature will be explored and tested, such as asset specificity, behavioral uncertainty, information sharing and other constructs in social exchange theory. Finally, this study attempts to explore a relationship between trust and commitment based on Morgan and Hunt's framework. This study proposes that commitment is a key success factor in achieving supply chain integration and trust is a root in fostering such commitment. Although the literature mentions a relationship between trust and commitment (Morgan and Hunt 1994), there is a lack of empirical testing of such relationship in the supply chain management area. This study attempts to test the connection between the theoretical argument and empirical realities. Inventory and Internal Logistics Management as Critical Factors Affecting Supply Chain Performance Abstract: This paper focuses on the inventory and internal logistics management problem within a specific Supply Chain (SC) node (a Distribution Centre (DC)). The objective is twofold: to monitor the performance of different inventory control policies under distinct operative scenarios and to reduce the Internal Logistic Costs (ILCs) by investigating the effect of some critical parameters (i.e., the number of incoming/outgoing trucks from suppliers/to retailers, the number of forklifts and lift trucks, etc.) for increasing the service level provided to final retailers and allocating internal resources efficiently. To this end, a simulation model of a real DC is implemented. Identification of Factors Affecting Continuity of Cooperative Electronic Supply Chain Relationships: Empirical Case of the Taiwanese Motor Industry Abstract: This study has developed a research framework that integrates the three perspectives of resource dependence, risk perception, and relationship marketing to identify the factors affecting the continuity of a cooperative electronic supply chain. After constructing a structural equation model, empirical testing on 851 raw material and spare parts suppliers for the Taiwanese motor industry was conducted. All path coefficients in the proposed model were statistically significant, and were as hypothesized. Resource dependence, trust, and relationship commitment are positively related to the continuity of the cooperative electronic relationship. Risk perception is negatively related to the continuity of the cooperative electronic relationship. This paper has theoretically developed an extensive set of interrelationships among these variables illustrating their comparative effects on supplier intention to use the internet for on-line transactions. This empirical study provides consistent support for the proposed business-to-business (B2B) e-commerce acceptance model. The primary contribution of this research is the integration of constructs associated with resources, environmental uncertainty, and relationship marketing, into a coherent model that jointly predicts supplier acceptance of e-commerce. Supply Chain Management and Supply Chain Orientation: Key Factors for Sustainable Development Projects in Developing Countries? Abstract: In developing countries, many projects are seeking regional and sustainable development by trying to promote local products and companies. Our paper tries to evaluate Supply Chain Management (SCM) and Supply Chain Orientation (SCO) in the design and implementation of projects aiming at the enhancement of sustainable regional development in two Brazilian Amazonian states. Our main objective is to evaluate if the lack of SCM and SCO is a factor of failure of those projects. The paper begins with the definitions of the main concepts related to the research. Then, it presents the context and analysis of six projects aiming at the enhancement of sustainable development of local communities through the promotion of the forest products by six different collecting co-operatives. The evaluation was obtained by mixing case study and empirical data from the six projects. The conclusion presents the outputs of the analysis, which can be useful to similar projects, especially those related to the design of sustainable and regionally adapted productions and supply chain configurations.
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