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Information as a substitute for inventories

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  • Dudley, Leonard
  • Lasserre, Pierre

Abstract

In Recent Years, the Ratio of Inventories to Sales in North America Manufacturing Has Fallen Without the Offsetting Increases in Unfilled Orders Or Price Variation That Are Predicted by Some Theoretical Models. the Explanation Offered Here Is That in the Face of Falling Relative Costs of Communications, Firms Will Substitute Information for Inventories, Thereby Allowing Their Production Systems to Absorb a Greated Part of Demand Shocks. the Implicit Hypothesis That the Demands for Communications and Inventories Are Therefore Determined Simultaneously Is Tested with Data on Canadian Inventories and on Telecommunications Between Canada and Europe and Is Not Rejected.
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Suggested Citation

  • Dudley, Leonard & Lasserre, Pierre, 1989. "Information as a substitute for inventories," European Economic Review, Elsevier, vol. 33(1), pages 67-88, January.
    • Handle: RePEc:eee:eecrev:v:33:y:1989:i:1:p:67-88
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    Cited by:

    1. Rajiv Kohli & Sarv Devaraj, 2003. "Measuring Information Technology Payoff: A Meta-Analysis of Structural Variables in Firm-Level Empirical Research," Information Systems Research, INFORMS, vol. 14(2), pages 127-145, June.
    2. Ganesh Iyer & Chakravarthi Narasimhan & Rakesh Niraj, 2007. "Information and Inventory in Distribution Channels," Management Science, INFORMS, vol. 53(10), pages 1551-1561, October.
    3. Fred V. Carstensen & William F. Lott & Stan McMillen, 2003. "The Economic Impact of Connecticut's Information Technology Industry," CCEA Studies 2003-02, University of Connecticut, Connecticut Center for Economic Analysis.
    4. Norton, Seth W, 1997. "Information and Competitive Advantage: The Rise of General Motors," Journal of Law and Economics, University of Chicago Press, vol. 40(1), pages 245-260, April.
    5. Berndt, Ernst R. & Morrison, Catherine J., 1995. "High-tech capital formation and economic performance in U.S. manufacturing industries An exploratory analysis," Journal of Econometrics, Elsevier, vol. 65(1), pages 9-43, January.
    6. Catherine J. Morrison, 2000. "Assessing The Productivity Of Information Technology Equipment In U.S. Manufacturing Industries," The Review of Economics and Statistics, MIT Press, vol. 79(3), pages 471-481, August.
    7. Lal, K., 1996. "Information technology, international orientation and performance: A case study of electrical and electronic goods manufacturing firms in India," Information Economics and Policy, Elsevier, vol. 8(3), pages 269-280, September.
    8. Cannon, Alan R., 2008. "Inventory improvement and financial performance," International Journal of Production Economics, Elsevier, vol. 115(2), pages 581-593, October.

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