Inventory Management: Information, Coordination and Rationality

Planning Production and Inventories in the Extended Enterprise (Eds K. Kempf, P. Keskinocak and R. Uzsoy), pp. 321-365, 2011

45 Pages Posted: 2 Mar 2009 Last revised: 14 Oct 2017

See all articles by Özalp Özer

Özalp Özer

Jindal School of Management - The University of Texas at Dallas

Date Written: March 1, 2009

Abstract

The success of a product in today's global marketplace depends on capabilities of firms in the product's supply chain. Among these capabilities, effective inventory management is a capability necessary to lead in the global marketplace. The chapter provides a discussion of four fundamentals of effective inventory management. First, it requires managers to know how best to use available information. Second, managers need to quantify the value of information. Third, they need to coordinate decentralized inventory operations. Finally, effective inventory management requires decision tools that can be embraced by their users. The chapter's emphasis is on the use of information, and the role of new information technologies in inventory management. Previous research on inventory management played an important role in the advancement and development of new technologies and processes. Today more research is needed because new technologies (such as RFID Radio-Frequency Identification) and new management methods (such as collaborative forecasting and planning) are emerging and evolving faster than ever before. Inventory management and research will continue to play a central role in the success of a product and the firms in its supply chain. The chapter brings together separate but inherently related streams of research in inventory management. By doing so, we highlight potential research opportunities that lie on the boundaries.

Keywords: Inventory management

Suggested Citation

Özer, Özalp, Inventory Management: Information, Coordination and Rationality (March 1, 2009). Planning Production and Inventories in the Extended Enterprise (Eds K. Kempf, P. Keskinocak and R. Uzsoy), pp. 321-365, 2011. Available at SSRN: https://ssrn.com/abstract=1351628 or http://dx.doi.org/10.2139/ssrn.1351628

Özalp Özer (Contact Author)

Jindal School of Management - The University of Texas at Dallas ( email )

Jindal School of Management
800 W. Campbell Road
Richardson, TX 75080
United States

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