The Value of Inventory Accuracy in Supply Chain Management: Case Study of the Yedioth Communication Press

Our work focuses on the quality information aspect of the inventory management domain of the supply chain in the organization. Within the scope of quality information we have concentrated upon the discrepancies known as inventory errors, which are the result of events that can be classified as one o...

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Autores principales:	Shteren,Hila, Avrahami,Assaf
Lenguaje:	English
Publicado:	Universidad de Talca 2017
Materias:	Value of information Inventory management Supply chain Inventory errors E-commerce
Acceso en línea:	http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-18762017000200006
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spelling	oai:scielo:S0718-187620170002000062018-10-12The Value of Inventory Accuracy in Supply Chain Management: Case Study of the Yedioth Communication PressShteren,HilaAvrahami,Assaf Value of information Inventory management Supply chain Inventory errors E-commerce Our work focuses on the quality information aspect of the inventory management domain of the supply chain in the organization. Within the scope of quality information we have concentrated upon the discrepancies known as inventory errors, which are the result of events that can be classified as one of the following three types: Shrinkage, Misplacement and Wrong Scanning [1]. These events lead to differences between inventory reflected in the IT system records and available inventory for sale. These discrepancies and/or their associated negative effects can be minimized should additional information be available. Our work explores four different models that operationally take the discrepancies into consideration in four different scenarios: (1) No Information Scenario, (2) Static Informed Scenario, (3) Informed Scenario, and (4) Full Information Scenario. The objective of our work is to explore and quantify the value of the additional information in Scenarios 2 - 4 compared to the No Information Scenario. We implemented an analytical model for each scenario, where the objective in all four scenarios is to minimize the average expected cost per period. Our findings indicate that additional information greatly influences optimal policies and, if exploited wisely, can save a great deal of moneyinfo:eu-repo/semantics/openAccessUniversidad de TalcaJournal of theoretical and applied electronic commerce research v.12 n.2 20172017-05-01text/htmlhttp://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-18762017000200006en10.4067/S0718-18762017000200006
institution	Scielo Chile
collection	Scielo Chile
language	English
topic	Value of information Inventory management Supply chain Inventory errors E-commerce
spellingShingle	Value of information Inventory management Supply chain Inventory errors E-commerce Shteren,Hila Avrahami,Assaf The Value of Inventory Accuracy in Supply Chain Management: Case Study of the Yedioth Communication Press
description	Our work focuses on the quality information aspect of the inventory management domain of the supply chain in the organization. Within the scope of quality information we have concentrated upon the discrepancies known as inventory errors, which are the result of events that can be classified as one of the following three types: Shrinkage, Misplacement and Wrong Scanning [1]. These events lead to differences between inventory reflected in the IT system records and available inventory for sale. These discrepancies and/or their associated negative effects can be minimized should additional information be available. Our work explores four different models that operationally take the discrepancies into consideration in four different scenarios: (1) No Information Scenario, (2) Static Informed Scenario, (3) Informed Scenario, and (4) Full Information Scenario. The objective of our work is to explore and quantify the value of the additional information in Scenarios 2 - 4 compared to the No Information Scenario. We implemented an analytical model for each scenario, where the objective in all four scenarios is to minimize the average expected cost per period. Our findings indicate that additional information greatly influences optimal policies and, if exploited wisely, can save a great deal of money
author	Shteren,Hila Avrahami,Assaf
author_facet	Shteren,Hila Avrahami,Assaf
author_sort	Shteren,Hila
title	The Value of Inventory Accuracy in Supply Chain Management: Case Study of the Yedioth Communication Press
title_short	The Value of Inventory Accuracy in Supply Chain Management: Case Study of the Yedioth Communication Press
title_full	The Value of Inventory Accuracy in Supply Chain Management: Case Study of the Yedioth Communication Press
title_fullStr	The Value of Inventory Accuracy in Supply Chain Management: Case Study of the Yedioth Communication Press
title_full_unstemmed	The Value of Inventory Accuracy in Supply Chain Management: Case Study of the Yedioth Communication Press
title_sort	value of inventory accuracy in supply chain management: case study of the yedioth communication press
publisher	Universidad de Talca
publishDate	2017
url	http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-18762017000200006
work_keys_str_mv	AT shterenhila thevalueofinventoryaccuracyinsupplychainmanagementcasestudyoftheyediothcommunicationpress AT avrahamiassaf thevalueofinventoryaccuracyinsupplychainmanagementcasestudyoftheyediothcommunicationpress AT shterenhila valueofinventoryaccuracyinsupplychainmanagementcasestudyoftheyediothcommunicationpress AT avrahamiassaf valueofinventoryaccuracyinsupplychainmanagementcasestudyoftheyediothcommunicationpress
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The Value of Inventory Accuracy in Supply Chain Management: Case Study of the Yedioth Communication Press

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