scholarly journals THE IMPACT OF INVENTORY CONTROL PRACTICES ON COST REDUCTION: THE CASE OF LEBANESE RETAIL COMPANIES

2021 ◽  
pp. 16-25
Author(s):  
Denis Ushakov ◽  
Khodor Shatila
Keyword(s):  
Inventory Control ◽  
Inventory Management ◽  
Cost Reduction ◽  
Descriptive Analysis ◽  
Operational Performance ◽  
Study Approach ◽  
Lean Practices ◽  
Vendor Management Inventory ◽  
Vendor Management ◽  
The Impact

Inventory is a significant aspect in administration of items and services or other commodities that are kept in storage by companies and organizations. The research deals with four research variables which are vendor management inventory, lean practices, inventory management and strategic supplier management in their relation to the performance of retail companies. The research is based on the use of the mixed study approach, which aims at defining the effects of inventory control on cost reduction and operational performance of retail firms in Lebanon. The research addressed 123 respondents from the two companies. Also, the researcher has carried out six interviews with three managers from each of these two companies. The data was collected using Google forms, and then analyzed using SPSS. Descriptive analysis, inferential statistics and normality distributions were used to analyze the collected data, and the research has found a direct relationship between vendor inventory management, inventory stock taking, lean practices and strategic supplier relationships and the operational performance of the companies in question. The research recommended three new models to be implemented in further studies, and these models include the independent variables as a dependent variable.  

The impact of lean practices on operational performance – an empirical investigation of Indian process industries

2017 ◽  
Vol 29 (2) ◽  
pp. 158-169 ◽  
Author(s):  
Avinash Panwar ◽  
Rakesh Jain ◽  
Ajay Pal Singh Rathore ◽  
Bimal Nepal ◽  
A.C. Lyons
Keyword(s):  
Empirical Investigation ◽  
Operational Performance ◽  
Process Industries ◽  
Lean Practices ◽  
The Impact

scholarly journals Análisis de control de inventarios en la microempresa Muelles Melecio

2019 ◽  
pp. 9-13
Author(s):  
Ana Luisa Olvera-Montoya ◽  
Marcela Espinosa-Rodríguez
Keyword(s):  
Inventory Control ◽  
Inventory Management ◽  
Cost Benefit Analysis ◽  
Descriptive Analysis ◽  
Cost Benefit ◽  
Benefit Analysis ◽  
Single Time ◽  
Single Moment ◽  
And Control ◽  
Research Analysis

The administration of an inventory implies saying how much material is needed and when to place orders, receive, store and keep the record, since the main objective is to keep costs low and keep enough finished products for sales. The inventory represents one of the most important investments of the companies in relation to the rest of their assets, since they are fundamental for the sales and indispensable for the optimization of the utilities. The research "Analysis of inventory control in the Muelles Melecio microenterprise" is intended to analyze the management of inventories in the Mulles Melecio microenterprise. To know the procedures used by the organization, the application of the instrument is carried out, consisting of questions related to inventory management and comprehensive cost-benefit analysis. and finally the descriptive analysis of inventory control in the microenterprise. The type of research that follows this project is non-experimental and descriptive. The design that will be used corresponds to the transectional, consisting of collecting data in a single moment, in a single time. Its purpose is to obtain an analysis of the management and control of the inventory at the Muelles Melecio microenterprise.

scholarly journals Methodology Forming Strategies for Management of Commercial Resources of Trading Enterprises

2020 ◽  
Vol 8 ◽  
Keyword(s):  
Inventory Control ◽  
Inventory Management ◽  
Management Strategies ◽  
Strategy Formation ◽  
Methodical Approach ◽  
Efficiency And Effectiveness ◽  
Commercial Enterprise ◽  
Formation Efficiency ◽  
The Impact

The development of methodical approach to strategy formation of inventory management of trede enterprises. The aim of the paper is to develop a methodical approach to determining strategies for managing inventory on which may provide synchronization between the processes of formation of inventory and sales. Implementation of the proposed approach to study inventory management strategies will ensure synchronization between the processes of formation efficiency and effectiveness of inventory sales. Considered the impact of the most important factors, which we have identified, as forecast changing of population demand, quality inventory control and to determine the private areas within the overall strategy towards inventory management, describing the pursuit of optimization of inventory in the activities of commercial enterprise.

The impact of lean practices on the operational performance of SMEs in India

2019 ◽  
Vol 119 (2) ◽  
pp. 317-330 ◽  
Author(s):  
Vinod Yadav ◽  
Rakesh Jain ◽  
Murari Lal Mittal ◽  
Avinash Panwar ◽  
Andrew Lyons
Keyword(s):  
Structural Equation ◽  
Design Methodology ◽  
Production Management ◽  
Operational Performance ◽  
Equation Modeling ◽  
Lean Thinking ◽  
Content Type ◽  
Lean Practices ◽  
The Impact ◽  
The Relationship

PurposeAlthough lean thinking is deemed to be a gold standard of modern production management, a lot of scepticism still remains regarding its applicability in small- and medium-sized enterprises (SMEs). The purpose of this paper is to understand the perception of lean in SMEs and establish the relationship between lean adoption and operational performance.Design/methodology/approachWith the help of a survey, data were collected from 425 SMEs in India and analyzed using structural equation modeling.FindingsOperational performance of the firms was found to be positively related to lean implementation.Originality/valueThis study also furnishes practitioners with a better understanding of lean thinking in SMEs and its impact on performance.

scholarly journals A Case Study of Inventory Management in a Manufacturing Company in China

2016 ◽  
Vol 5 (1) ◽  
pp. 20-40 ◽  
Author(s):  
Hong Shen ◽  
Qiang Deng ◽  
Rebecca Lao ◽  
Simon Wu
Keyword(s):  
Inventory Management ◽  
Management Practices ◽  
Key Factors ◽  
Case Study Approach ◽  
Study Approach ◽  
Manufacturing Company ◽  
Practical Guidance ◽  
Management Approaches ◽  
The Impact

Abstract In this paper, we focus on inventory management in a manufacturing company in China. This study aims to identify the key factors that influence inventory management practices, investigate efficient and effective inventory management approaches, and examine the impact of supplier cooperation on supply chain improvement. A case study approach is used to identify the key factors that influence inventory management in a factory. Efficient and effective inventory management practices are derived from the case study and may provide practical guidance for foreign manufacturers in China. This study provides a valuable tool for identifying the key factors in inventory management which can be applied to similar problems encountered in actual manufactories.

The Study on the Model of Vendor Management Inventory in Supply Chain

2014 ◽  
Vol 644-650 ◽  
pp. 6105-6108
Author(s):  
Li Li Dong
Keyword(s):  
Supply Chain ◽  
Inventory Management ◽  
Optimal Solution ◽  
Management Theory ◽  
Inventory Problem ◽  
Inventory Cost ◽  
Chain Management ◽  
Management Level ◽  
Vendor Management Inventory ◽  
Vendor Management

In order to reduce inventory cost effectively, the vendor management inventory (VMI) is studied in this paper. The inventory problem of supply chain is described, the model of VMI is established, and the optimal solution is obtained. The research in this paper can enrich the supply chain management theory, and help enterprises improve inventory management level.

scholarly journals Application of Lateral Transshipment in Cost Reduction of Decentralized Systems

2020 ◽  
Vol 12 (12) ◽  
pp. 5081
Author(s):  
Yi Liao ◽  
Jun Li ◽  
Xinxin Hu ◽  
Ying Li ◽  
Wenjing Shen
Keyword(s):  
Inventory Management ◽  
Cost Reduction ◽  
Demand Uncertainty ◽  
Switching Behavior ◽  
Primary Concern ◽  
Decentralized Systems ◽  
Product Availability ◽  
Multi Stage ◽  
Lateral Transshipment ◽  
The Impact

COVID-19 has exposed the global supply chains to great vulnerability. In such extreme circumstances, product availability becomes a primary concern. This paper studies a basic inventory management strategy—lateral transshipment—under decentralized systems, which may play an important role in dealing with stockouts during unexpected crises. Lateral transshipments not only react quickly to stockout, but are also environmentally friendly due to the significant reduction of production and transportation pollution. This paper studies optimal lateral transshipment and replenishment decisions under a decentralized setting. We construct a multi-stage stochastic model that captures demand uncertainty and customer switching behavior. We demonstrate that, similar to the centralized setting, the optimal transshipment decision follows a double-threshold structure. The optimal replenishment quantities are determined under two pricing mechanisms—individual mechanism (IP) and negotiated mechanism (NP). Numerical examples are provided to demonstrate the impact of lateral transshipment on supply chain cost reduction.

scholarly journals The moderating role of lean operations between supply chain integration and operational performance in Saudi manufacturing organizations

2021 ◽  
pp. 169-178
Author(s):  
Jehad S. Bani Hani
Keyword(s):  
Supply Chain ◽  
Positive Impact ◽  
Supply Chain Integration ◽  
Operational Performance ◽  
Essential Information ◽  
Industrial Organizations ◽  
Lean Practices ◽  
Fundamental Reason ◽  
Lean Operations ◽  
The Impact

The fundamental reason for this study was to explore the impact of Supply Chain Integration on Operational Performance through the directing part of Lean Operations. The study essential information gathered from the example that contains 288 supervisors working in Saudi Industrial Organizations lied in the western locale, utilizing an all-around planned survey. This study coordinated to study how the supply chain integration, lean operations, and operational performance can impact each other in manufacturing associations. SEM model created and deliberately surveyed and tried. The key discoveries demonstrate that rehearsing supply chain integration cycles could bring about expanding the open door for manufacturing associations to accomplish operational performance through applying lean practices. Therefore, the connection between supply chain integration and operational performance, just as the connection between lean operations and operational performance, was positive, given these connections, it very well may be presumed that the lean operations (as a directing variable) can have a positive impact the connection between supply chain integration and operational performance. Particularly, the connection between supply chain integration and quality performance measures.

Contribution of Supplier Relationship Management to Firm Performance

2020 ◽  
Vol 36 (5E) ◽  
Author(s):  
Le Thi Tu Anh ◽  
Nguyen Thu Ha
Keyword(s):  
Descriptive Analysis ◽  
Relationship Management ◽  
Operational Performance ◽  
Supplier Relationship Management ◽  
Management Effectiveness ◽  
Measurement Scales ◽  
Manufacturing Plants ◽  
The Impact ◽  
Improve Supply Chain ◽  
Supplier Relationship

Supplier relationship management plays a crucial role in the firm’s development and success. This paper examines the impact of supplier relationship management on the operational performance of firms. The data was collected from 304 manufacturing plants in 4 Asian countries in the period 2013-2015. The results of statistical descriptive analysis, correlation analysis, and regression analysis indicate that supplier relationship management has a positive relationship with operational performance. The study also proposes some suggestions for researchers and managers in developing and applying measurement scales of supplier relationship management to improve supply chain management effectiveness.

TQM, SCM and operational performance: an empirical study of Indian pharmaceutical industry

2019 ◽  
Vol 26 (1) ◽  
pp. 331-370 ◽  
Author(s):  
Sanjay Sharma ◽  
Sachin Modgil
Keyword(s):  
Supply Chain ◽  
Pharmaceutical Industry ◽  
Inventory Management ◽  
Structural Equation ◽  
Management Practices ◽  
Operational Performance ◽  
Equation Modeling ◽  
Total Quality ◽  
Content Type ◽  
The Impact

Purpose The purpose of this paper is to investigate the impact of total quality management (TQM) and supply chain management (SCM) practices on operational performance, and their interlinkage between each other. Design/methodology/approach Constructs those are critical to pharmaceutical quality and supply chain have been identified with the help of literature and experts from industry. The impact of TQM practices on supply chain practices and on operational performance has been evaluated. Similarly, the impact of supply chain practices on operational performance has been evaluated. Further, alternate models are tested and evaluated through structural equation modeling. Findings It was observed during testing of alternate models that TQM practices have a direct impact on operational performance. However, TQM practices also directly impact supply chain components, which, in turn, influence overall operational performance. In comparison of alternate models, the model in which TQM practices affect supply chain practices and supply chain practices further affect the operational performance is found most appropriate. Practical implications This study provides some useful implications from industry point of view. TQM practices are critical to pharmaceutical industry. TQM practices are the core of attaining a smooth supply chain, which will have greater impact to achieve operational performance. Strategic supplier partnership, procurement management, information sharing, and quality and inventory management practices are driven by TQM practices. This tri-linkage helps to achieve the desired operational performance. Originality/value There are very limited studies that have considered both the areas together to achieve better operational performance. In pharmaceutical industry, both TQM and SCM are the critical areas for any organization to drive its growth.

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