Evaluating vendor-managed inventory (VMI) in non-traditional environments using simulation

Southard, Peter B.; Swenseth, Scott R.

doi:10.1016/j.ijpe.2008.09.007

Cited by 51 publications

(20 citation statements)

References 41 publications

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“…However, not until recently was this subject discussed in the academic literature (Southard and Swenseth 2008). To ensure proper classification of the published scientific literature on VMI, we established five categories, divided by focus: strategic, statistical characterization, simulation, deterministic modeling, and stochastic modeling.…”

Section: Literature Reviewmentioning

confidence: 99%

“…Initiatives like ''efficient customer response'' in the grocery industry and ''quick response'' in the garment industry are good examples of this concept. In recent years, there has been growing interest in implementing vendormanaged inventory (VMI) initiatives (Emigh 1999), thanks to important recognition from different industrial leaders (Southard and Swenseth 2008). This interest stems from the fact that there are benefits to the whole chain in cost reduction, improved service levels, and supplier performance .…”

Section: Introductionmentioning

confidence: 99%

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Handbook of EOQ Inventory Problems

Choi¹

2014

International Series in Operations Research &Amp; Management Science

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Section: Literature Reviewmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Handbook of EOQ Inventory Problems

Choi¹

2014

International Series in Operations Research &Amp; Management Science

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“…Although delivery costs will result in lower values under the fourth International Journal of Production Research 3825 action, owing to the complexity of recourse action number 4, the authors recommend utilisation of recourse action 2, which will give an acceptable increase and is easier to adopt. Implementation of VMI at a cooperative farm fuel delivery has been evaluated by Southard and Swenseth (2008), a case characterised by volatile demand, established partnerships, and an oligopoly relationship. The delivery policy used was a Next Closest Model in which the driver waited until a specific amount of orders accumulated and then started the delivery by serving the closest customer first and so on.…”

Section: Transportationmentioning

confidence: 99%

Vendor-managed inventory: a review based on dimensions

Govindan

2013

International Journal of Production Research

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Vendor-managed inventory (VMI) represents the methodology through which the upstream stage of a supply chain (vendor) takes responsibility for managing the inventories at the downstream stage (customer) based on previously agreed limits. VMI is another method by which supply chains can be managed, and, owing to centralised decisionmaking and constant information sharing, the benefits are much higher than in traditional supply chain case. However, there exists a lack of research that identifies the dimensions of VMI, benefits of VMI, methods, and levels used in the VMI environment. The focus of this paper is to explore the existing literature on VMI, to categorise it according to the criteria evaluated, and to present a systematic review. In this study, we have classified the review into three categories such as dimension-based, methodology-based, and level-based. From the thorough literature review, we have identified six dimensions of VMI: namely, inventory, transportation, manufacturing, general benefits, coordination/collaboration, and information sharing. In addition, there are, three methodological classifications: modelling, simulation, and case studies. Finally, we will consider the level-based classification. Based on the review, several recommendations that improve the performance of VMI are presented.

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“…Kastsian and Mo¨nnigmann (2011) addressed the steady state optimisation of a supply chain model that belonged to the class of VMI. Some studies also found that VMI alternatives outperformed traditional transport methods (Disney et al 2003, Southard andSwenseth 2008). The benefits of VMI in an uncertainty environment were considered by Lee and Ren (2011).…”

Section: Review Of the Related Researchmentioning

confidence: 99%

The impact of collaborative transportation management on demand disruption of manufacturing supply chains

Chan

2012

International Journal of Production Research

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This paper describes the impact of collaborative transportation management (CTM) on the performance of manufacturing supply chains using a multi-agent approach. Two supply chain models (with and without CTM) are proposed to show how it realises the real operational interactions between different supply chain partners under demand disruption. Simulation results of the proposed models reveal the evolution of the CTM supply chain with demand disruption. The dynamic delivery ability and order point which are caused by demand disruption in the CTM supply chain are investigated. The results indicate that CTM can significantly reduce costs and improve the flexibility of companies in handling demand disruption problems. It is suggested that CTM is an efficient mechanism to manage supply chains, especially under a demand disruption environment.

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Evaluating vendor-managed inventory (VMI) in non-traditional environments using simulation

Cited by 51 publications

References 41 publications

Handbook of EOQ Inventory Problems

Handbook of EOQ Inventory Problems

Vendor-managed inventory: a review based on dimensions

The impact of collaborative transportation management on demand disruption of manufacturing supply chains

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