Comparative study on decentralised inventory policy and Vendor Managed Inventory with (r, Q) replenishment strategy

Zhang, Airong; Zhang, Zigang; Guo, Xiang

doi:10.1504/ijlsm.2008.015929

Cited by 14 publications

(4 citation statements)

References 20 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…The pallets stored in the users’ locations are used for their routine logistics operations, where the demand pattern

for specific users and pallets are assumed to be normally distributed such that

. According to the ( R , Q ) replenishment policy [ 40 ], the ( R im , Q im ) policy is considered in this problem to determine the reorder point and quantity as in Equations (1) and (2), where the lead time L is uncertain and normally distributed as

. The order quantity calculation follows the economic order quantity (EOQ) to minimise the annual holding and ordering cost.…”

Section: Methodsmentioning

confidence: 99%

A Blockchain-IoT Platform for the Smart Pallet Pooling Management

Tsang

Lee

et al. 2021

Sensors

View full text Add to dashboard Cite

Pallet management as a backbone of logistics and supply chain activities is essential to supply chain parties, while a number of regulations, standards and operational constraints are considered in daily operations. In recent years, pallet pooling has been unconventionally advocated to manage pallets in a closed-loop system to enhance the sustainability and operational effectiveness, but pitfalls in terms of service reliability, quality compliance and pallet limitation when using a single service provider may occur. Therefore, this study incorporates a decentralisation mechanism into the pallet management to formulate a technological eco-system for pallet pooling, namely Pallet as a Service (PalletaaS), raised by the foundation of consortium blockchain and Internet of things (IoT). Consortium blockchain is regarded as the blockchain 3.0 to facilitate more industrial applications, except cryptocurrency, and the synergy of integrating a consortium blockchain and IoT is thus investigated. The corresponding layered architecture is proposed to structure the system deployment in the industry, in which the location-inventory-routing problem for pallet pooling is formulated. To demonstrate the values of this study, a case analysis to illustrate the human–computer interaction and pallet pooling operations is conducted. Overall, this study standardises the decentralised pallet management in the closed-loop mechanism, resulting in a constructive impact to sustainable development in the logistics industry.

show abstract

“…The pallets stored in the users’ locations are used for their routine logistics operations, where the demand pattern

for specific users and pallets are assumed to be normally distributed such that

. The order quantity calculation follows the economic order quantity (EOQ) to minimise the annual holding and ordering cost.…”

Section: Methodsmentioning

confidence: 99%

A Blockchain-IoT Platform for the Smart Pallet Pooling Management

Tsang

Lee

et al. 2021

Sensors

View full text Add to dashboard Cite

show abstract

“…to evaluate the marginal benefits of different strategies of information, as for operational information on orders and demand (Kelepouris et al, 2008) or for decentralized, centralized and separated policies (Sohn & Lim, 2008); to prove the reduction of inventory costs that arises from the combination of information sharing with the right ordering policy (Lee, So, & Tang, 2000;Kelepouris et al, 2008;Liao & Chang, 2010), also contributing to lead time reduction (Agrawal et al, 2009); to determine the possibility of improving forecasting performance through information sharing and reducing the demand uncertainty (Cachon & Fisher, 2000;Trapero, Kourentzes, & Fildes, 2012); to test results from the introduction of centralized coordination policies that only information sharing can enable, as for Vendor Managed Inventory Zhang, Zhang, & Guo, 2008).…”

Section: Retailermentioning

confidence: 99%

The impact of information sharing on ordering policies to improve supply chain performances

Costantino

Gravio

Shaban

et al. 2015

Computers & Industrial Engineering

View full text Add to dashboard Cite

“…Vendor-managed inventory based on supplier management purchaser's inventory and afford inventory cost, this coordination mechanism can effectively reduce logistics cost of supply chain. Zhang Aiwen [3] showned that when difference between ordering cost ratio and inventory cost ratio is larger, VMI can effectively reduce the equilibrium price. With the help of Arena software, Qian Zhiwang solved optimal order point with transportation cost, inventory cost and shortage cost's minimum under VMI mode [4] .…”

Section: Introductionmentioning

confidence: 99%

Supply Chain Coordination Mechanism Logistics Cost Optimization Analysis

Yang

Chen

2013

AMR

View full text Add to dashboard Cite

This paper deals with a two-stage supply chain including one supplier and one purchaser. The two coordination mechanisms: traditional supply chain and vendor-managed inventory, are analyzed on their logistics cost optimization capabilities under the centralized and decentralized decision-making conditions. The conclusions are that the logistics costs are same under the centralized decision-making; vendor-managed inventory coordination mechanism is better than traditional supply chain coordination mechanism under the decentralized decision-making.

show abstract

Comparative study on decentralised inventory policy and Vendor Managed Inventory with (r, Q) replenishment strategy

Cited by 14 publications

References 20 publications

A Blockchain-IoT Platform for the Smart Pallet Pooling Management

A Blockchain-IoT Platform for the Smart Pallet Pooling Management

The impact of information sharing on ordering policies to improve supply chain performances

Supply Chain Coordination Mechanism Logistics Cost Optimization Analysis

Contact Info

Product

Resources

About