The application of vendor managed inventory in the supply chain inventory model with probabilistic demand

Hidayat, Yosi Agustina; Anna, Ika Deefi; Khrisnadewi, A.

doi:10.1109/ieem.2011.6117917

Cited by 4 publications

(5 citation statements)

References 15 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…The data that must be included in the request packages consists of the following information: (1) for (𝐶𝑃 𝑖 ): demand pool's ID, demand quantity, delivery time, price, budget encryption key and so on (5); (2) for (𝑆𝑃 𝑠 ): service pool's ID, capacity, budget, incentive/price, response time, encryption key, and other relevant information. (6).…”

Section: Transactions and Blocks Definitionsmentioning

confidence: 99%

“…𝐶𝑃 𝑖 -Request = Hash 〈𝐼𝐷 𝑖 , 𝐷𝑇 𝑖 , 𝐷𝑄 𝑖 , 𝑃 𝑖 , 𝐵 𝑖 , 𝐶𝑃 𝑖,𝑝𝑢𝑏𝑙𝑖𝑐 ,…… 〉 (5) 𝑆𝑃 𝑠 -Request = Hash 〈𝐼𝐷 𝑠 , 𝑇𝐶 𝑠 , 𝐶 𝑠 , 𝑃 𝑠 , 𝐵 𝑠 , 𝑅𝑇 𝑠 , 𝑆𝑃 𝑠,𝑝𝑢𝑏𝑙𝑖𝑐 ,…… 〉 (6) With the solver accessing the required data that includes the amount of customer demand and the amount of supplier capacity from a sub-problem. At this stage, the Solver provisions the smart contract, which refers to the mining operation, to match each customer's order with the most suitable supplier.…”

Section: Transactions and Blocks Definitionsmentioning

confidence: 99%

“…SMI is a strategy in which the supplier takes over the customer's inventory to optimize the supply chain as it offers many benefits to various stake-holders [3]. Therefore, SMI reduces inventory costs and effectively increases cooperation and coordination between suppliers and customers, which improves the accuracy and efficiency of the supply chain [5][6][7]. The efficient flow of information ensures the success of SMI performance.…”

Section: Introductionmentioning

confidence: 99%

See 2 more Smart Citations

A Novel Supplier-Managed Inventory Order Assignment Platform Enabled by Blockchain Technology

Ghasemi,

Akhavan,

Abbasi

et al. 2023

IEEE Access

View full text Add to dashboard Cite

Supplier Managed Inventory (SMI) can be considered as an enabler for supply chain coordinating in which the supplier takes over the customer's inventory to optimize the supply chain. However, successful implementation of SMI is centered on high level of trust, accurate data transfer, and efficient interaction between parties. This requires the sharing of information through supply chain stakeholders which face resistance and challenges due to the fear that this information is revealed to its competitors and transparency of data. This paper has investigated the application of Blockchain technology and its potential for successful SMI implementation. The paper has proposed a Blockchain framework for the coordination of suppliers and customers. The framework includes a mathematical model for multiple supplier customer order fulfillment which is embedded in blockchain framework. The paper has demonstrated case studies to evaluate the performance of the proposed model with literature discussing the details of its blockchain framework.INDEX TERMS Supplier managed inventory (SMI), Blockchain technology (BC), Order assignment, Supply chain management (SCM)

show abstract

Section: Transactions and Blocks Definitionsmentioning

confidence: 99%

Section: Transactions and Blocks Definitionsmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

See 1 more Smart Citation

A Novel Supplier-Managed Inventory Order Assignment Platform Enabled by Blockchain Technology

Ghasemi,

Akhavan,

Abbasi

et al. 2023

IEEE Access

View full text Add to dashboard Cite

show abstract

“…VMI benefits both the front and back end of the supply chain as vendors and buyers realize synergistic advantages. One of the greatest benefits that vendors gain is obtaining precise demand information ahead of time, unlike in a traditional vendor-buyer relationship [3]. This enables vendors to respond quickly and efficiently to unexpected orders.…”

Section: A Importance Of Vendor Managed Inventory (Vmi)mentioning

confidence: 99%

“…VMI has a range of advantages when successfully implemented, and there would be an improvement in profit for all participating supply chain stakeholders. Such improved profits are generated by a combination of cost-cutting and increased sales and associated revenues [3]. To establish a VMI association, mutual benefit between both interested parties needs to be established.…”

Section: Introductionmentioning

confidence: 99%

Enhancing Vendor Managed Inventory Supply Chain Operations Using Blockchain Smart Contracts

et al. 2020

View full text Add to dashboard Cite

Supply chain networks have grown in complexity and size due to increased globalization leading to a variety of challenges and opportunities for improvement. Optimizing inventory levels and adjusting replenishment policies have significant effects on the operational performance and profitability of supply chains. Vendor Managed Inventory (VMI) is a mutually beneficial arrangement between supplier and buyer, where the supplier is responsible for making inventory and replenishment decisions based on buyers' inventory status. Potential benefits of VMI include reducing inventories, enabling information sharing, eliminating safety stock, and reducing purchasing related costs across the supply chain. In today's supply chains, VMI operations face critical challenges related to data integrity, transparency, traceability, and single point of failure due to its centralized architecture. Blockchain technology is a distributed ledger that ensures a transparent, safe, and secure exchange of data among supply chain stakeholders. The advantages of adopting blockchain technology for VMI operations in a supply chain include decentralized control, security, traceability, and auditable time-stamped transactions. In this paper, we present a blockchain-based approach using smart contracts to transform VMI supply chain operations. We propose a generic framework using Ethereum smart contracts and decentralized storage systems to automate the processes and information exchange and detailed algorithms that capture the interactions among supply chain stakeholders. The smart contract code was developed and tested in Remix environment. We present cost and security analysis incurred by the stakeholders in the supply chain. Adopting a blockchain-based solution to VMI operations in supply chains is economically viable and provides a streamlined, secure, trusted, and transparent mode of communication among various stakeholders.

show abstract

Vendor managed inventory on Two echelon inventory system with optimum accelerated lead time and component commonality

Hidayat

Simatupang

Sebrina

et al. 2017

2017 IEEE International Conference on Industrial Engineering and Engineering Management (IEEM)

View full text Add to dashboard Cite

The application of vendor managed inventory in the supply chain inventory model with probabilistic demand

Cited by 4 publications

References 15 publications

A Novel Supplier-Managed Inventory Order Assignment Platform Enabled by Blockchain Technology

A Novel Supplier-Managed Inventory Order Assignment Platform Enabled by Blockchain Technology

Enhancing Vendor Managed Inventory Supply Chain Operations Using Blockchain Smart Contracts

Vendor managed inventory on Two echelon inventory system with optimum accelerated lead time and component commonality

Contact Info

Product

Resources

About