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The value of VMI beyond information sharing under time-varying stochastic demand

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  • Devendra Choudhary
  • Ravi Shankar

Abstract

This study aims to determine the incremental value vendor-managed inventory (VMI) provides beyond that of independent decision-making with full information sharing (IS) under time-varying stochastic demand with service-level constraints. For this purpose, we apply mixed integer linear programming formulations to examine benefits for a supplier, a retailer and the system as a whole. To highlight the benefits of VMI vs. IS, a comprehensive numerical study is carried out considering a large number of business settings under both static and rolling horizons.

Suggested Citation

  • Devendra Choudhary & Ravi Shankar, 2015. "The value of VMI beyond information sharing under time-varying stochastic demand," International Journal of Production Research, Taylor & Francis Journals, vol. 53(5), pages 1472-1486, March.
    • Handle: RePEc:taf:tprsxx:v:53:y:2015:i:5:p:1472-1486
    DOI: 10.1080/00207543.2014.951093
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    Cited by:

    1. Jin Sha & Sisi Zheng, 2023. "Analysis of Sub-Optimization Impact on Partner Selection in VMI," Sustainability, MDPI, vol. 15(3), pages 1-11, February.
    2. Ghasemi, Elaheh & Lehoux, Nadia & Rönnqvist, Mikael, 2024. "A multi-level production-inventory-distribution system under mixed make to stock, make to order, and vendor managed inventory strategies: An application in the pulp and paper industry," International Journal of Production Economics, Elsevier, vol. 271(C).
    3. Weißhuhn, Sandria & Hoberg, Kai, 2021. "Designing smart replenishment systems: Internet-of-Things technology for vendor-managed inventory at end consumers," European Journal of Operational Research, Elsevier, vol. 295(3), pages 949-964.
    4. A. V. Thomas & Biswajit Mahanty, 2021. "Dynamic assessment of control system designs of information shared supply chain network experiencing supplier disruption," Operational Research, Springer, vol. 21(1), pages 425-451, March.
    5. Parsa, Payam & Rossetti, Manuel D. & Zhang, Shengfan & Pohl, Edward A., 2017. "Quantifying the benefits of continuous replenishment program for partner evaluation," International Journal of Production Economics, Elsevier, vol. 187(C), pages 229-245.

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