库存管理外文文献及翻译.docx

库存管理外文文献及翻译.docx

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库存管理外文文献及翻译

库存管理

外文文献及翻译

外文文献：

ZeroInventoryApproach

Managingoptimalinventoryinthesupplychainiscriticalforanenterprise.Theabilitytoincreaseinventoryturnsandtheuseofbestinventorypracticeswillreduceinventorycostsacrossthesupplychain.Movingtowardszeroinventorywillresultineffectiveinventorymanagementinthebusinessprocess.InventoryOptimizationSolutionscanbeimplementedeasilyusinginventoryoptimizationsoftware.WithRadioFrequencyIdentification（RFID）technology,inventorycanbeupdatedinrealtimewithoutproductmovement,scanningorhumaninvolvement.Companieshavetoadoptbestpracticestooptimizeoperationalprocessesandlowertheircoststructurethroughinventorystrategies.

Introduction

Withsupplychainplanningandlatestsoftware,companiesaremanagingtheirinventoryinthebestpossiblemanner,keepinginventoryholdingstotheminimumwithoutsacrificingthecustomerserviceneeds.Thezeroinventoryconcepthasbeenaroundsincethe1980s.Ittriestoreduceinventorytoaminimumandenhancesprofitmarginsbyreducingtheneedforwarehousingandexpensesrelatedtoit.Theconceptofasupplychainistohaveitemsflowingfromonestageofsupplytothenext,bothwithinthebusinessandoutside,inaseamlessfashion.Anystockinthesystemiscausedbyeitherdelaybetweentheprocesses（demand,distribution,transfer,recordingandproduction）orbythevariationintheflow.Eliminating/reducingstockcanbeachievedby:

linkingprocesses,makingthesamethroughputrateonprocesses,locatingprocessesneareachotherandcoordinatingflows.Recentadvancedsoftwarehasmadezeroinventorystrategyexecutable.

"Inventoryoptimizationisanemergingpracticalapproachtobalancinginvestmentandservice-levelgoalsoveraverylargeassortmentofStock-KeepingUnits（SKUS）.Incontrasttotraditional‘one-at-a-time’marginalstocklevelsetting,inventoryoptimizationsimultaneouslydeterminesallSKUstocklevelstofulfilltotalserviceandinvestmentconstraintsorobjectives".

Inventoryoptimizationtechniquesprovideanewlogictodrivethesystemwithinformationsystems.Toeffectivelymanageinventory,businessesmustalsooptimizethecostsofbuying,holding,producing,movingandsellinginventory.

Theobjectiveofinventoryoptimizationistosustainminimallevelsofinventorywhileprovidingthemaximumpossiblelevelsofservice.SupplyChainDesignandOptimization（SCDO）isaninventoryoptimizationsolutionwhichhelpscompaniessatisfycustomerdemandswhilebalancinglimitationsonsupplyandtheneedforoperationalefficiency.Inventoryoptimizationfocusesonmodelinguncertaintyandvariabilityandminimizingtheriskstheyimposeonthesupplychain.

Inventoryoptimizationcanhelpresolvetotalsupplychaincostoptionslike:

•In-housemanufacturingvs.contractmanufacturing;

•Domesticvs.offshore;

•Newsupplier'scostvs.currentsuppliers'cost.

Companiescanbenefitfrominventoryoptimization,providedtheycontroltheirsupplychainprocessesandthecomplexityofsupplychain.Incasethesupplychainisverycomplex,besidesinventoryoptimization,networkdesignhastobeusedtoreapthebenefitsfully.ThispapercoversvariousinventorymodelsthatareavailableandthendescribesthetechnologieslikeRadioFrequencyIdentification（RFID）andnetworkingusedfortheoptimizationofinventory.Thepaperalsodescribesthesoftwaresolutionsavailableforachievingthesame.Itconcludesbygivingafewexampleswhereinventoryoptimizationhasbeensuccessfullyimplemented.

InventoryModels

HexagonModel

Thehexagonmodelwasdevelopedduetotheneedtostructureday-to-daywork,reduceheadcountandotherinventorycostsandimprovecustomersatisfaction.Inthefirstphase,operationstrategieswereestablishedinalignmentwithinte-rnalcustomers.Later,continuousimprovementplansandbusinesscontinuitypl-answereadded.Thefivestrategiesusedwere:

forecastingfutureconsumption,settingfinancialtargetstominimizeinventorycosts,preparingdailyreportstomonitorinventoryoperationalperformance,studyingcriticalsuccessindicatorstotracktheaccomplishments,toforminventorystrategicobjectivesandinventor-yhealthandoperatingstrategies.Thehexagonmodelisacombinationoftwotriangularstructures（Figure1）.

Theuppertrianglefocusesonthesoftmanagementofhumanresources,customerorientationandsupplierrelations;thelowerfocusesontheexecutionofinventoryplanswiththeirsuccesscriteria,continuousimprovementmethodologyandbusinesscontinuityplans.

Theinventoryindicatorsare:

totalinventoryvalue,availabilityofspares,daysofinventory,costofinventory,costsavingandcashsavingoutputexpen-ditureandqualityimprovement.Thehexagonmodelcombinestheelementsofthepeopleinvolvedinmanaginginventorywithoperationalexcellence（Figur2）.

Managinginventorywithoperationalexcellencewasachievedbyreducingthenumberofemployeesinthematerialdepartment,changingthemixofpeopleskillssuchasintroducingengineeringintothedepartmentstructureandreducingthecostofownershipofthematerialdepartmenttotheoperationthatitsupports.

Normally,thisisimplementedwithreductioninheadcountofmaterialdepartment,havinglesspeoplewithengineeringskillsinthedepartment.Operationresultsinclude,improvementinrawmaterialsupplylinequalityindicators,competitivedaysofinventoryandimprovedandstabilizedsparesavailability.Andthefinancialresultsinclude,increaseincostsavingsandreducedcostofinventory.Itcanbeestablishedbyoutsourcingsomeoftheinventoryfunctionsasrequired.Thelevelofefficiencyoftheinventorymanagedcanbemeasuredtoaspecificrisklevel,changingrequirementsorchangesintheenvironment.

Just-In-Time（JIT）

Just-in-time（JIT）inventorysystemisaconceptdevelopedbytheJapanese,wherein,thesuppliersdeliverthematerialstothefactoryJITfortheirprocessing,eliminatingtheneedforstorageandretrieval.Therateofoutputandtherateofsupplyofinputsaresynchronized,tomanageazeroinventory.

ThemainbenefitsofJITare:

setuptimesaresignificantlyreducedinthefactory,theflowofgoodsfromwarehousetoshelvesimproves,employeeswhopossessmultipleskillsareutilizedmoreefficiently,betterconsistencyofschedulingandconsistencyofemployeeworkhours,increasedemphasisonsupplierrelationshipsandcontinuousroundtheclocksupplieskeepingworkersproductiveandbusinessesfocusedonturnover.

AndthoughaJITsystemmightevenbeanecessity,giventheinventorydemandsofcertainbusinesstypes,itsmanyadvantagesarerealizedonlywhensomesignificantriskslikedelaysinmovementofgoodsoverlongdistancesaremitigated.

Vendor-ManagedInventory（VMI）

Vendor-ManagedInventory（VMI）isaplanningandmanagementsysteminwhichthevendorisresponsibleformaintainingthecustomer’sinventorylevels.VMIisdefinedasaprocessormechanismwherethesuppliercreatesthepurchaseordersbasedonthedemandinformation.VMIisacombinationofe-commerce,softwareandpeople.Ithasresultedinthedramaticreductionofinventoryacrossthesupplychain.VMIiscategorizedintherealworldascollaboration,automationandcosttransference.

ThemainobjectivesofVMIarebetter,cheaperandfastertransactions.InordertoestablishtheVMIprocess,managementcommitment,datasynchronization,settingupagreements,dataexchange,ordering,invoicematchingandmeasurementhavetobeundertaken.ThebenefitsofVMItoanorganizationarereductionininventorybesidesreductionofstock-outsandincreaseincustomersatisfaction.Accurateinformationwhichisrequiredforoptimizingthesupplychainisfacilitatedbyefficienttransferofinformation.TheconceptofVMIwouldbesuccessfulonlywhenthereistrustbetweentheorganizationanditssuppliersasallthedemandinformationisavailabletothesupplierswhichcanberevealedtothecompetitors.VMIoptimizesinventoryinsupplychainandreducesstock-outsbyproperplanningandcentralizedforecasting.

ConsignmentModel

ConsignmentinventorymodelisanextensionofVMIwherethevendorplacesinventoryatthecustomer’slocationwhileretainingownershipoftheinventory.Theconsignmentinventorymodelworksbestinthecaseofnewandunprovenproductswherethereisahighdegreeofdemanduncertainty,highlyexpensiveproductsandservicepartsforcriticalequipment.Thetypesofconsignmentinventoryownershiptransfermodelsare:

payassoldduringapre-definedperiod,ownershipchangesafterapre-definedperiod,andordertoorderconsignment.

TheissuesthattheVMIandconsignmentinventorymodelencounterarecostofdevelopingVMIsystem,invoicingproblems,cashflowproblems,ElectronicDataInterchange（EDI）problemsandobsoletestock.

EnablingPractices

Thedecisionmakershavetomakeprudentdecisionsonfuturecourseofactionofaprojectrelatingtothefollowingvariables:

ForecastingandInventoryManagement,InventoryManagementpractices,InventoryPlanning,Optimalpurchase,MultichannelInventory,Movingtowardszeroinventory.

Toimproveinventorymanagementforbetterforecasting,the14bestpracticesthatwillmostlikelybenefitbusinessthemostare:

•Synchronizepromotions;

•Revamptheorganizationalstructure;

•Takealongerviewofitemplanning;

•Enforcevendorcompliance;

•Trackkeyinventorymetrics;

•Selecttherightsystems;

•Mastertheartofmasterscheduling;

•Adheretoexceptionreporting;

•Identifylostdemands;

•Planbyassortment;

•Trackinboundreceipts;

•Createcoveragereports;

•Balanceunderstock/overstock;and

•OptimizeSK