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Related Literature - Foreign
Chapter 2
REVIEW OF RELATED LITERATURE AND STUDIES
The researchers gathered different related literature and studies, both from foreign and local sources, in order to understand more about their study. They made the highlights of their findings in a narrative presentation following this paragraph.
Foreign Literature
Shah Janat (2010), every participant in a supply chain, whether wholesaler, retailer or manufacturer or vendor, prefers to reduce inventories and yet maintain customer service so as not to lose customers because of the non-availability of goods. Huge inventories are a drain on resources, as it blocks money and increase cost of operations. So it is no surprise that all firms want to reduce inventory in the supply chain. The inventory may be divided into various categories. In general there are six main categories of inventories: First, the cycle stock, the inventory resulting from production or purchase in batches is called cycle stocks, since the lots are produced or purchased in cyclical lots. Second is the safety stocks, as the name suggests, are maintained as a safeguard against uncertainties of demand and supply. Third is the decoupling stocks, which provide the flexibility needed by each decision-making unit to manage its operations independently and to optimize its performance. Fourth, anticipation inventory which consists of stocks accumulated in advance of expected peak in sales or that which takes care of some special event that does not occur on regular basis. This has two categories, the seasonal stocks and the speculation stocks. The fifth is the pipeline inventory which consists of materials actually being worked on or being moved from one location to another in the chain. Lastly, the dead stock which refers to that part of non-moving inventory that is unlikely to be any further use in supply chain operations or markets.
Parvinen, et al (2007) said that within customer-oriented...
Chapter 2
REVIEW OF RELATED LITERATURE AND STUDIES
The researchers gathered different related literature and studies, both from foreign and local sources, in order to understand more about their study. They made the highlights of their findings in a narrative presentation following this paragraph.
Foreign Literature
Shah Janat (2010), every participant in a supply chain, whether wholesaler, retailer or manufacturer or vendor, prefers to reduce inventories and yet maintain customer service so as not to lose customers because of the non-availability of goods. Huge inventories are a drain on resources, as it blocks money and increase cost of operations. So it is no surprise that all firms want to reduce inventory in the supply chain. The inventory may be divided into various categories. In general there are six main categories of inventories: First, the cycle stock, the inventory resulting from production or purchase in batches is called cycle stocks, since the lots are produced or purchased in cyclical lots. Second is the safety stocks, as the name suggests, are maintained as a safeguard against uncertainties of demand and supply. Third is the decoupling stocks, which provide the flexibility needed by each decision-making unit to manage its operations independently and to optimize its performance. Fourth, anticipation inventory which consists of stocks accumulated in advance of expected peak in sales or that which takes care of some special event that does not occur on regular basis. This has two categories, the seasonal stocks and the speculation stocks. The fifth is the pipeline inventory which consists of materials actually being worked on or being moved from one location to another in the chain. Lastly, the dead stock which refers to that part of non-moving inventory that is unlikely to be any further use in supply chain operations or markets.
Parvinen, et al (2007) said that within customer-oriented...