库存管理中英文对照外文翻译文献.docx

库存管理中英文对照外文翻译文献.docx

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文献信息：

文献标题：

A Multi-Criteria Decision Framework for InventoryManagement（库存管理的多准则决策框架）

国外作者：

PK Krishnadevarajan，S Balasubramanian，N Kannan，VRavichandran

文献出处：

《InternationalJournalofManagement》,2016,7

（1）:

85-93字数统计：

英文3228单词，17138字符；中文5509汉字

外文文献：

AMulti-CriteriaDecisionFrameworkforInventory

Management

AbstractInventorymanagementisaprocess/practicethateverycompanyundertakes.Mostcompaniesfailtoapplyacomprehensivesetofcriteriatoranktheirproducts/items.Thecriteriaaretoofeworsubjectiveinnature.Inventoryisrequiredtostayinbusinessandmeetcustomerneeds.Ifitisnotdonerightitcausesdeteriorationincustomerserviceandcouldleadtodamagestobothcustomerandsupplierrelationsandeventuallycausebusinessbreakdown.Asimplemulti-criteriadrivenholisticframeworkdevelopedbyindustryinputiscriticaltothesuccessofinventorymanagement.AninventorymanagementframeworkusingFIVEmain-criteriacategories（revenue,customerservice,profitability,growth,risk）,21（between3and6ineachcategory）metricsand4ranks（A,B,C,D）ispresentedinthispapertoassistcompanieswiththeirinventorymanagementprocess.Theframeworkthatispresentedhasbeendevelopedthroughliteraturereview,surveys,interviewsandfocus

groupswithseveralindustryowners,inventorymanagersandbusinessmanagers.TheinteractionwithcompaniesledtoasetofTHREEcriticalquestions:

1.Isthereacomprehensiveinventorymanagementframework?

2.Whatinventorymetricsshouldbetrackedormonitoredonaroutinebasis?

3.Howdoimplementamulti-criteriainventoryclassification?

Thispaperisanattempttoanswerthesecriticalquestionsandprovideaframeworkthatisdevelopedbybringingtogetherexistingliteratureavailableandinput/findingsfromindustryexecutivesintheareaofinventorymanagement.

Keywords:

Inventory,InventoryManagement,InventoryClassification,InventoryRanking,Multi-CriteriaInventoryManagement.

1.INTRODUCTION

Inventoryisacriticalassetandresourcethatishandledextensivelybymostbusinesses.Managinginventoryeffectivelyhasbeensomethingthateverycompanystrivesfor;however,itisalsoanareawherecompaniesoftenhavefailedandstillcontinuetofail.Companieshandlemultipleitems/productsbuttreatallitemsequallybecausethebusinessobjectiveistoservethecustomer.Asaresulttheyenduphavingexcessinventoryofthewrongitems.Asbusinessesexpandtherearesomanyproductsininventoryandthecompanyendsuphavingmorestockinginventoryforeachproductorendupinvestingmoreinthewronginventory.Item/inventorystratificationistheprocessofrankingitemsbasedonrelevantfactorsapplicabletothebusinessenvironment.AccordingtoPradipKumarKrishnadevarajan,GunasekaranS.,LawrenceF.B.andRaoB（2015）andPradipKumarKrishnadevarajan,SBalasubramanianandNKannan（2015）youshouldclassifyitemsintoacertainnumberofcategories（typicallylessthanfive）sothatmanagingthemday-to-daydoesnotbecomeunwieldy.Thisisespeciallyneededwhenhandlingseveralhundredsor

thousandsofitems,whereidentifyingandfocusingonthemostcriticalitemsisofutmostimportancetoallowresourcestobeusedeffectivelyandefficiently.Thisstratificationprocessistypicallydoneataphysicallocationlevel（atbranchesordistributioncenters）acrosstheentirecompany,althoughitcouldbeappliedathigherlevels（regionsortheentirecompany）.Theitemstratificationprocessisusuallynotwell-definedorgivendueimportance,anditoftengetsover-simplified.Theinventorystratificationprocessshouldaddressseveralmetricsandamulti-criteriaapproachmustbetakenforeffectiveinventorymanagement.Thispaperattemptstopresentacomprehensiveframeworkthatcouldassistcompaniesinchoosingtherightsetofmetricstoperforminventoryrankingfortheirbusiness.

2.FRAMEWORKDEVELOPMENT

Theprocessofinventoryclassificationactuallybeginsbydevelopingorchoosingaframeworkthatsuitsthecompany’svisionandgoals.Thedevelopmentprocessoftheproposedinventoryframeworkprocesstookplaceintwostages.Thefirststagewastolookatexistingliteraturetounderstandthedifferentfactors/criteriathatarebeingusedforinventoryevaluationbyvariousindustries/businesses.Thesecondstagewasinteractionwithcompaniestogatherinput,understandmetricsusedandchallengesfacedinexecutingtheinventoryclassificationprocess.

2.1.LiteratureReview

（Pareto,1906）observedthatabout20%ofthepopulationofacountryhasabout80%ofitswealth（alsoknownasthe80-20rule）.Thisruleholdstrueforitemssoldbyafirm:

about20%ofitemsaccountforabout80%ofafirm’srevenue.

（FloresandWhybark,1987）presentaninventoryrankingmodeldrivenbycriticalityanddollar-usage.Thefirststageisfortheuserstoranktheitemsbasedoncriticality,thesecondstageranksitemsbasedondollar/currencyusage.Basedonusage,itemsarerankedasA,BorC.

（Flores,OlsonandDorai,1992）proposetheuseofAHPasameansfordecisionmakerstocustomdesignaformulareflectingtherelativeimportanceofeachunitofinventoryitembasedonaweightedvalueofthecriteriautilized.Thefactorsappliedare–totalannualusage（quantity）,averageunitcost（currency）,annualusage（currency）,leadtimeandcriticality.Theyalsopresentareclassificationmodelbasedonthefollowingfactorsandweights:

criticality（42%）,followedbyleadtime（41%）,annualdollarusage（9.2%）,andaverageunitcost（7.8%）.

（Schreibfeder,2005）recommendacombinationmodelusingcostofgoodssold（procurementpricefromsupplier）,numberoftransactions（ordersorhits）,andprofitability（grossmargin）.

（Lawrence,GunasekaranandKrishnadevarajan,2009）statethatbestpracticesinitemstratificationarebasedonmultiplefactorssuchassales,logistics（hits）,andprofitability（grossmargincurrencyorpercentage,orgrossmarginreturnoninventoryinvestment[GMROII]）thathelptoattaintheoptimalsolutioninmostcases.Companies,however,canincludemorefactorsspecifictotheirbusinessenvironment,suchasleadtime,senseofurgency,productdependency,criticality,productlifecycleandlogisticscosts.Theyalsopresentamodeltoclassifyitemsbasedondemandpattern.Ademandstabilityindex（DSI）isestablishedusingthreecriteria–demandfrequencyorusagefrequency,demandsizeanddemandvariability.

（PradipKumarKrishnadevarajan,Gunasekaran,LawrenceandRao,2013）rankitemsinto4categories（High,medium-plus,medium-minus,low）forriskmanagementandpricesensitivity.Rankingisbasedonunitcostoftheitem.Itemsarealsorankedbasedonannualusage（currency）,hits,grossmargin（currency）andgrossmargin（percentage）.ThefinalranksareCritical（A&Bitems）,important（Citems）andnon-critical（Ditems）.

（DhokaandChoudary,2013）classifyitemsbasedondemandpredictability（XYZAnalysis）.ItemswhichhaveuniformdemandarerankedasX,varyingdemandasY,andabnormaldemandasZ.

（Hatefi,TorabiandBagheri,2014）presentamodifiedlinearoptimizationmethodthatenablesinventorymanagerstoclassifyanumberofinventoryitemsinthepresenceofbothqualitativeandquantitativecriteriawithoutanysubjectivity.ThefourfactorsusedareADU（Annualdollarusage）,CF（criticalfactor–verycritical[VC],moderatelycritical[MC]ornon-critical[NC]）,AUC（Averageunitcost）andLT（LeadTime）.ItemsarerankedasA,B,orC.

（Xue,2014）connectsthecharacteristicsofmaterialssupplyandtherelationshipbetweenpartsandproduction,aclassificationmodelbasedonmaterialsattributes.Theseveralcriteriaappliedinthedecisiontreemodelare:

Partsusagerate,carrying-holding-possessioncosts,ordering-purchasecosts,shortagecost,anddeliveryability.

（Šarić,Šimunović,PezerandŠimunović,2014）presentaresearchoninventoryABCclassificationusingvariousmulti-criteriamethods（AHP）methodandclusteranalysis）andneuralnetworks.Themodeluses4criteria–Annualcost,Criticality,LeadTime1andLeadTime2.

（Kumar,RajanandBalan,2014）rankitemsbasedontheircostinbillofmaterials（ABCranking）.“A”items-70%highervalueofitemsofbillofmaterial,“B”items–20%MediumvalueofitemsofBillofmaterialand“C”items–10%LowervalueofitemsofBillofmaterial.Theyalsodeterminevital,essential,anddesirablecomponentsrequiredforassembly（VEDanalysis）.

（SarmahandMoharana,2015）presentamodelthathas5criteria–consumptionrate,unitprice,replenishmentleadtime,commonalityandcriticality.

（PradipKumarKrishnadevarajan,Balasubramanian,andKannan,2015）presentastrategicbusinessstratificationframeworkbasedon:

suppliers,product,demand,space,service,market,customerandpeople.

（PradipKumarKrishnadevarajan,Vignesh,BalasubramanianandKannan,2015）presentaframeworkforsupplierclassificationbasedonseveralcategories:

convenience,customerservice,profitability（financial）,growth,innovation,inventory,

qualityandrisk.Asimilarframeworkcanbeextendedbasedonthesupplierclassificationforitemsorproducts.

2.2.IndustryFeedback

Interactionwithcompanieswasperformedthroughsurveys,interviewsandfocusgroupswithseveralindustryowners,inventory/purchasingmanagersandbusinessmanagers.Theobjectivewastogetanideaofthemetricsbeingutilizedforinventoryclassification,challengesfaced,inventoryframeworkdeployedandtheeffectivenessoftheircurrentinventoryperformancemanagementprocesses.Keyfindingsfromtheindustryinteractionwerethefollowing:

•Lackofainventorymanagementfra