This paper analyzes how artificial intelligence (AI) automation can improve warehouse management compared to emerging technologies like drone usage. Specifically, we evaluate AI’s impact on crucial warehouse function...This paper analyzes how artificial intelligence (AI) automation can improve warehouse management compared to emerging technologies like drone usage. Specifically, we evaluate AI’s impact on crucial warehouse functions—inventory tracking, order fulfillment, and logistics efficiency. Our findings indicate AI automation enables real-time inventory visibility, optimized picking routes, and dynamic delivery scheduling, which drones cannot match. AI better leverages data insights for intelligent decision-making across warehouse operations, supporting improved productivity and lower operating costs.展开更多
Researchers in the disciplines of both Operations and Accounting have studied Inventory Management, though in relative isolation. In this paper, one of our goals is to help inform researchers in Operations Management ...Researchers in the disciplines of both Operations and Accounting have studied Inventory Management, though in relative isolation. In this paper, one of our goals is to help inform researchers in Operations Management about an extensively debated question in inventory accounting: whether to repeal the LIFO (Last-In-First-Out) inventory accounting choice? This question has received extensive scrutiny from various stakeholders including academics, businesses, and different levels of governmental agencies such as US Congress. Specifically, we provide a literature review on how LIFO affects and is affected by inventory management. This is done by first reviewing the potential determinants of LIFO inventory accounting choice and then reviewing potential interactions between LIFO and inventory management. It is our hope that this review will help stakeholders have a more comprehensive understanding of LIFO before making their decisions.展开更多
Forecasting is predicting or estimating a future event or trend.Supply chains have been constantly growing in most countries ever since the industrial revolution of the 18th century.As the competitiveness between supp...Forecasting is predicting or estimating a future event or trend.Supply chains have been constantly growing in most countries ever since the industrial revolution of the 18th century.As the competitiveness between supply chains intensifies day by day,companies are shifting their focus to predictive analytics techniques to minimize costs and boost productivity and profits.Excessive inventory(overstock)and stock outs are very significant issues for suppliers.Excessive inventory levels can lead to loss of revenue because the company's capital is tied up in excess inventory.Excess inventory can also lead to increased storage,insurance costs and labor as well as lower and degraded quality based on the nature of the product.Shortages or out of stock can lead to lost sales and a decline in customer contentment and loyalty to the store.If clients are unable to find the right products on the shelves,they may switch to another vendor or purchase alternative items.Demand forecasting is valuable for planning,scheduling and improving the coordination of all supply chain activities.This paper discusses the use of neural networks for seasonal time series forecasting.Our objective is to evaluate the contribution of the correct choice of the transfer function by proposing a new form of the transfer function to improve the quality of the forecast.展开更多
With the continuous acceleration ofglobal material movement,logistics has becomethe main artery and one of the key industries in thedomestic economy.Its evolution has become a sig-nificant indicator of the country’s ...With the continuous acceleration ofglobal material movement,logistics has becomethe main artery and one of the key industries in thedomestic economy.Its evolution has become a sig-nificant indicator of the country’s modernization andeconomic development efficiency.Inventory man-agement,a vital business unit for most produc-tion-oriented enterprises and service enterprisesproviding logistics,has become an important evalu-ation indicator of logistics management.In the com-petitive market,excellent inventory management ofenterprises is of great significance.In the advent ofnetworking and the emergence of the informationera have forced higher requirements in inventorymanagement.The efficiency and systematic opera-tion of inventory management must be based onstandardization and must utilize advanced scientificand technological measures to achieve greater effi-ciency with lower costs and higher revenue.展开更多
The optimization policy of the purchase price and the profit under vendor managed inventory(VMI) is studied. For a salable product, supply chain mode of VMI is established, which is based on deterministic demand, havi...The optimization policy of the purchase price and the profit under vendor managed inventory(VMI) is studied. For a salable product, supply chain mode of VMI is established, which is based on deterministic demand, having initial stock and having stock-out cost. With the further analysis of the mode, VMI is found to increase profits of the buyer in the short-term motivation. But VMI will reduce profits of the supplier under the matching condition. And in the short-term motivation, VMI will increase the purchase price to compensate the transfer cost of the supplier. As a result, the foundation of theory is provided to implement VMI in the supply chain, and have some definituded project significance.展开更多
Background: Forest management aims at obtaining a sustainable production of wood to be harvested to generate products or energy. However, the quantitative influence of forest management and of removals by harvest on b...Background: Forest management aims at obtaining a sustainable production of wood to be harvested to generate products or energy. However, the quantitative influence of forest management and of removals by harvest on biomass stocks has rarely been analysed on a large scale based on measurements. Two hypotheses prevail: management induces a reduction of wood stocks due to cuttings, versus no impact because of increased growth of the remaining trees. Using data collected for 2840 permanent plots across Romania from the National Forest Inventory representing^2.5 Mha, we have tested to what extent different management types and treatments can influence the biomass stock and productivity of beech forests, and attempt to quantify these effects both on the short and long terms. Three main types of beech forest management are implemented in Romania with specific objectives: intensive wood production in production forests, protection of ecosystem services (e.g. watersheds, avalanche protection) in protection forests, and protection of the forest and its biodiversity in protected forests. Production forests encompass two treatments differing according to the stand regeneration method: the age class rotation management and the group shelterwood management. Results: We show that forest management had little influence on the biomass stocks at a given stand age. The highest stocks at stand age 100 were observed in production forests (the most intensively managed forests). Consequences of early cuttings were very short-termed because the increase in tree growth rapidly compensated for tree cuttings. The cumulated biomass of production forests exceeded that of protected and protection forests. Regarding the treatment, the group shelterwood forests had a markedly higher production over a full rotation period. The total amount of deadwood was primarily driven by the amount of standing deadwood, and no management effect was detected. Conclusions: Given the relatively low-intensity management in Romania, forest management had no negative impact on wood stocks in beech forests biomass stocks at large scale. Stand productivity was very similar among management types or treatments. However cumulated biomass in production forests was higher than in protection or protected forests, and differed markedly according to treatments with a higher cumulated biomass in shelterwood forests.展开更多
Over the years, it appeared that firms failed to subject short-term investments to proper management thereby leading to either excessive or inadequate working capital which in turn affected their profitability. To emp...Over the years, it appeared that firms failed to subject short-term investments to proper management thereby leading to either excessive or inadequate working capital which in turn affected their profitability. To empirically satisfy this, this paper examined working capital management and firms’ profitability in Nigeria quoted firms on Nigerian Stock Exchange (NSE). A panel data methodology was used with different regression estimators to analyze this relationship based on a balanced panel of 10 listed firms during the period 2008-2017. It was discovered that cash collection period and cash payment period exerted a negative impact on return on assets, though the impact was only significant for cash payment period on the ground of −0.064 (p = 0.000 −0.032 (p = 0.077 > 0.05). Also discovered was that both the current ratio and inventory period exerted a positive impact on return on assets, though the impact was only significant for current ratio on the ground of 8.172 (p = 0.000 0.05). The study concluded that working capital management affected firms’ profitability in Nigeria. Therefore it was recommended that while the shorter collection was maintained, payment to creditors should not be elongated so as to enjoy cash discount (if any) and that firms should be proactive in the management of raw materials in order to avoid idle resources that might negatively impact their financial performance.展开更多
Service and repair companies, big stores, industries and power companies having complex issues on inventory brought this idea for solution. The inventory department of PHCN generating unit has obsolete and sometimes n...Service and repair companies, big stores, industries and power companies having complex issues on inventory brought this idea for solution. The inventory department of PHCN generating unit has obsolete and sometimes non-availability of materials. The company faces maintenance, repairs, replacement demands and outage-related problems. In order to cater for these demands, some classifications that would aid PHCN in making effective decisions as regards spare or service parts were made. This research has developed inventory control system that provides automated inventory management system and graphical interface ability for decision making. This is to “right-size” inventories such that the total level of inventory held can be reduced and replenished without exposing the company to risk of stock-out. The system is a model for dynamic supply chain management using spare parts inventory policy tools to enable PHCN to dynamically perform continuous review, one to one lot, service differentiation, backordering, demand lead time, threshold rationing and clearing mechanism.展开更多
In the field of the construction industry, logistics management has become an issue of concern which needs to be focused on in order to ensure effective, successful and timely execution of projects in the construction...In the field of the construction industry, logistics management has become an issue of concern which needs to be focused on in order to ensure effective, successful and timely execution of projects in the construction industry. Logistics management in construction is a multidisciplinary process which makes sure things are done at the right time, cost and quality as well as material supply and handling, schedule control, site infrastructure and equipment location, site physical flow management, traffic arrangements on and around the construction site, and information management related to all physical and services flow. This paper seeks to identify and evaluate the possible factors that affect logistics management in the construction industry and also to ascertain the current practices of inventory management and the effect on logistics management envisage by construction personnel’s and stake holders. A descriptive survey research was conducted with both structured and unstructured questionnaire and administered both via e-mail and by sending questionnaire link onto a WhatsApp platform groups of the respondents, and out of the 187 respondents that took part in the survey, 22 respondents feedback were incomplete so 165 member respondents results were analyzed representing 88.2% response rate. The survey results were analyzed, displayed and interpreted in the form of tables, bar charts, column chart and pie chart with the use of SPSS software. The research survey respondents </span><span style="font-family:Verdana;">were </span><span style="font-family:Verdana;">comprised of Project Managers, Project Coordinators, Foremen, Site Managers/</span><span style="font-family:Verdana;"> </span><span style="font-family:Verdana;">Officers, Logistics Managers, Inventory Managers and Laborers. The survey results revealed that majority of the total respondents are in the capacity or position as Logistics Managers and also have from 5 to 10 years working experience, and as well majority of the respondents have also attained Master’s degree qualification. It was also revealed that logistics management is greatly affected by the inability or the failure to embrace, adopt and integrate new and emerging technology and its approach into the logistics management system. Majority of the respondents also indicated that in general the adequacy of inventory management system was dissatisfied representing 63.8% of the total respondents. The construction industry not only needed to improve its inventory management systems but also to ensure appropriate inventory management techniques for enhancing high degree of accuracy, reduced cycle times and replenishment of stock. This usually accounts for the poor delivery and quality of work, accompanied with delays and other associated losses in project construction. For effective Logistics management to be achieved in the construction industry, the introduction of modern technology to carry out logistics functions in the construction industry should be paramount to the industry players.展开更多
The Road Surface Management System (RSMS) is a powerful tool that can provide an overview and rough estimate of a roadway system’s condition at the network level and the approximate costs for future improvements in t...The Road Surface Management System (RSMS) is a powerful tool that can provide an overview and rough estimate of a roadway system’s condition at the network level and the approximate costs for future improvements in towns and small cities. This helps municipalities and local agencies to apply limited budget resources and provide the greatest road quality benefits. To control the cost of roadway surface deterioration, local agencies and municipalities need to make cost-effective decisions regarding the maintenance, rehabilitation, and reconstruction of the roadway network. RSMS can help in assessing the condition of the network, weighing alternatives, and establishing long-term treatment plans and budgets. In this paper, RSMS is used to evaluate a university campus road network in the state of Idaho and to establish the necessary repair methods for 10 selected sections in the campus network.展开更多
文摘This paper analyzes how artificial intelligence (AI) automation can improve warehouse management compared to emerging technologies like drone usage. Specifically, we evaluate AI’s impact on crucial warehouse functions—inventory tracking, order fulfillment, and logistics efficiency. Our findings indicate AI automation enables real-time inventory visibility, optimized picking routes, and dynamic delivery scheduling, which drones cannot match. AI better leverages data insights for intelligent decision-making across warehouse operations, supporting improved productivity and lower operating costs.
文摘Researchers in the disciplines of both Operations and Accounting have studied Inventory Management, though in relative isolation. In this paper, one of our goals is to help inform researchers in Operations Management about an extensively debated question in inventory accounting: whether to repeal the LIFO (Last-In-First-Out) inventory accounting choice? This question has received extensive scrutiny from various stakeholders including academics, businesses, and different levels of governmental agencies such as US Congress. Specifically, we provide a literature review on how LIFO affects and is affected by inventory management. This is done by first reviewing the potential determinants of LIFO inventory accounting choice and then reviewing potential interactions between LIFO and inventory management. It is our hope that this review will help stakeholders have a more comprehensive understanding of LIFO before making their decisions.
文摘Forecasting is predicting or estimating a future event or trend.Supply chains have been constantly growing in most countries ever since the industrial revolution of the 18th century.As the competitiveness between supply chains intensifies day by day,companies are shifting their focus to predictive analytics techniques to minimize costs and boost productivity and profits.Excessive inventory(overstock)and stock outs are very significant issues for suppliers.Excessive inventory levels can lead to loss of revenue because the company's capital is tied up in excess inventory.Excess inventory can also lead to increased storage,insurance costs and labor as well as lower and degraded quality based on the nature of the product.Shortages or out of stock can lead to lost sales and a decline in customer contentment and loyalty to the store.If clients are unable to find the right products on the shelves,they may switch to another vendor or purchase alternative items.Demand forecasting is valuable for planning,scheduling and improving the coordination of all supply chain activities.This paper discusses the use of neural networks for seasonal time series forecasting.Our objective is to evaluate the contribution of the correct choice of the transfer function by proposing a new form of the transfer function to improve the quality of the forecast.
文摘With the continuous acceleration ofglobal material movement,logistics has becomethe main artery and one of the key industries in thedomestic economy.Its evolution has become a sig-nificant indicator of the country’s modernization andeconomic development efficiency.Inventory man-agement,a vital business unit for most produc-tion-oriented enterprises and service enterprisesproviding logistics,has become an important evalu-ation indicator of logistics management.In the com-petitive market,excellent inventory management ofenterprises is of great significance.In the advent ofnetworking and the emergence of the informationera have forced higher requirements in inventorymanagement.The efficiency and systematic opera-tion of inventory management must be based onstandardization and must utilize advanced scientificand technological measures to achieve greater effi-ciency with lower costs and higher revenue.
文摘The optimization policy of the purchase price and the profit under vendor managed inventory(VMI) is studied. For a salable product, supply chain mode of VMI is established, which is based on deterministic demand, having initial stock and having stock-out cost. With the further analysis of the mode, VMI is found to increase profits of the buyer in the short-term motivation. But VMI will reduce profits of the supplier under the matching condition. And in the short-term motivation, VMI will increase the purchase price to compensate the transfer cost of the supplier. As a result, the foundation of theory is provided to implement VMI in the supply chain, and have some definituded project significance.
基金funding from the European Union Seventh Framework Program(FP7/2007–2013)under grant agreement n°244122support by a grant of the Romanian National Authority for Scientific Research,CNCS-UEFISCDI,project number PN-II-IDPCE-2011-3-0781support of the University of Antwerp Research Council through its Methusalem program
文摘Background: Forest management aims at obtaining a sustainable production of wood to be harvested to generate products or energy. However, the quantitative influence of forest management and of removals by harvest on biomass stocks has rarely been analysed on a large scale based on measurements. Two hypotheses prevail: management induces a reduction of wood stocks due to cuttings, versus no impact because of increased growth of the remaining trees. Using data collected for 2840 permanent plots across Romania from the National Forest Inventory representing^2.5 Mha, we have tested to what extent different management types and treatments can influence the biomass stock and productivity of beech forests, and attempt to quantify these effects both on the short and long terms. Three main types of beech forest management are implemented in Romania with specific objectives: intensive wood production in production forests, protection of ecosystem services (e.g. watersheds, avalanche protection) in protection forests, and protection of the forest and its biodiversity in protected forests. Production forests encompass two treatments differing according to the stand regeneration method: the age class rotation management and the group shelterwood management. Results: We show that forest management had little influence on the biomass stocks at a given stand age. The highest stocks at stand age 100 were observed in production forests (the most intensively managed forests). Consequences of early cuttings were very short-termed because the increase in tree growth rapidly compensated for tree cuttings. The cumulated biomass of production forests exceeded that of protected and protection forests. Regarding the treatment, the group shelterwood forests had a markedly higher production over a full rotation period. The total amount of deadwood was primarily driven by the amount of standing deadwood, and no management effect was detected. Conclusions: Given the relatively low-intensity management in Romania, forest management had no negative impact on wood stocks in beech forests biomass stocks at large scale. Stand productivity was very similar among management types or treatments. However cumulated biomass in production forests was higher than in protection or protected forests, and differed markedly according to treatments with a higher cumulated biomass in shelterwood forests.
文摘Over the years, it appeared that firms failed to subject short-term investments to proper management thereby leading to either excessive or inadequate working capital which in turn affected their profitability. To empirically satisfy this, this paper examined working capital management and firms’ profitability in Nigeria quoted firms on Nigerian Stock Exchange (NSE). A panel data methodology was used with different regression estimators to analyze this relationship based on a balanced panel of 10 listed firms during the period 2008-2017. It was discovered that cash collection period and cash payment period exerted a negative impact on return on assets, though the impact was only significant for cash payment period on the ground of −0.064 (p = 0.000 −0.032 (p = 0.077 > 0.05). Also discovered was that both the current ratio and inventory period exerted a positive impact on return on assets, though the impact was only significant for current ratio on the ground of 8.172 (p = 0.000 0.05). The study concluded that working capital management affected firms’ profitability in Nigeria. Therefore it was recommended that while the shorter collection was maintained, payment to creditors should not be elongated so as to enjoy cash discount (if any) and that firms should be proactive in the management of raw materials in order to avoid idle resources that might negatively impact their financial performance.
文摘Service and repair companies, big stores, industries and power companies having complex issues on inventory brought this idea for solution. The inventory department of PHCN generating unit has obsolete and sometimes non-availability of materials. The company faces maintenance, repairs, replacement demands and outage-related problems. In order to cater for these demands, some classifications that would aid PHCN in making effective decisions as regards spare or service parts were made. This research has developed inventory control system that provides automated inventory management system and graphical interface ability for decision making. This is to “right-size” inventories such that the total level of inventory held can be reduced and replenished without exposing the company to risk of stock-out. The system is a model for dynamic supply chain management using spare parts inventory policy tools to enable PHCN to dynamically perform continuous review, one to one lot, service differentiation, backordering, demand lead time, threshold rationing and clearing mechanism.
文摘In the field of the construction industry, logistics management has become an issue of concern which needs to be focused on in order to ensure effective, successful and timely execution of projects in the construction industry. Logistics management in construction is a multidisciplinary process which makes sure things are done at the right time, cost and quality as well as material supply and handling, schedule control, site infrastructure and equipment location, site physical flow management, traffic arrangements on and around the construction site, and information management related to all physical and services flow. This paper seeks to identify and evaluate the possible factors that affect logistics management in the construction industry and also to ascertain the current practices of inventory management and the effect on logistics management envisage by construction personnel’s and stake holders. A descriptive survey research was conducted with both structured and unstructured questionnaire and administered both via e-mail and by sending questionnaire link onto a WhatsApp platform groups of the respondents, and out of the 187 respondents that took part in the survey, 22 respondents feedback were incomplete so 165 member respondents results were analyzed representing 88.2% response rate. The survey results were analyzed, displayed and interpreted in the form of tables, bar charts, column chart and pie chart with the use of SPSS software. The research survey respondents </span><span style="font-family:Verdana;">were </span><span style="font-family:Verdana;">comprised of Project Managers, Project Coordinators, Foremen, Site Managers/</span><span style="font-family:Verdana;"> </span><span style="font-family:Verdana;">Officers, Logistics Managers, Inventory Managers and Laborers. The survey results revealed that majority of the total respondents are in the capacity or position as Logistics Managers and also have from 5 to 10 years working experience, and as well majority of the respondents have also attained Master’s degree qualification. It was also revealed that logistics management is greatly affected by the inability or the failure to embrace, adopt and integrate new and emerging technology and its approach into the logistics management system. Majority of the respondents also indicated that in general the adequacy of inventory management system was dissatisfied representing 63.8% of the total respondents. The construction industry not only needed to improve its inventory management systems but also to ensure appropriate inventory management techniques for enhancing high degree of accuracy, reduced cycle times and replenishment of stock. This usually accounts for the poor delivery and quality of work, accompanied with delays and other associated losses in project construction. For effective Logistics management to be achieved in the construction industry, the introduction of modern technology to carry out logistics functions in the construction industry should be paramount to the industry players.
文摘The Road Surface Management System (RSMS) is a powerful tool that can provide an overview and rough estimate of a roadway system’s condition at the network level and the approximate costs for future improvements in towns and small cities. This helps municipalities and local agencies to apply limited budget resources and provide the greatest road quality benefits. To control the cost of roadway surface deterioration, local agencies and municipalities need to make cost-effective decisions regarding the maintenance, rehabilitation, and reconstruction of the roadway network. RSMS can help in assessing the condition of the network, weighing alternatives, and establishing long-term treatment plans and budgets. In this paper, RSMS is used to evaluate a university campus road network in the state of Idaho and to establish the necessary repair methods for 10 selected sections in the campus network.
