Operations and Quality Management "Research Essay

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To reduce inventory management costs and errors, enterprise must form a strong, galvanizing connection with suppliers, buyers, internal production, and customers most of all. In conclusion, inventory management will always be part art and science, as tacit & implicit knowledge is needed to provide greater insight into the analysis generated fro enterprise software applications specifically designed to streamline inventory management. The inherent unquantifiable aspects of demand management will also make inventory management a continually difficult, complex problem enterprises must confront daily to stay profitable and grow.

References

Forecasting and Demand References

Leung, S. (2003, Oct 01). Where's the beef? A glutted market leaves food chains hungry for sites; finding spots for new outlets takes heaps of research and an eye for details; hint: Move next to Wal-Mart. Wall Street Journal, pp. a.1-a.1.

http://bpp.wharton.upenn.edu/waldfogj/250/clippings/externalities/WSJ%2010-1-2003%20Hint-%20Move%20Next%20to%20Wal-Mart.pdf

Meng, F., Tepanon, Y., & Uysal, M. (2008). Measuring tourist satisfaction by attribute and motivation: The case of a nature-based resort. Journal of Vacation Marketing, 14(1), 41-56.

http://www2.itu.tu.ac.th/itu/web/files/measuring%20tourist_yodmani_0.pdf

Prewitt, M. (2007). Customer data mining aids in quests for lucrative new sites.

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Nations Restaurant News, 41(18), 1-1,53. http://nrn.com/article/customer-data-mining-aids-quests-lucrative-new-sites

Prewitt, M. (2007a). Site analysis tools do new encroachment-aversion duty. Nations Restaurant News, 41(10), 1-1,6.

http://nrn.com/article/site-analysis-tools-do-new-encroachment-aversion-duty

Inventory Management References

Chung, Q.B., Willemain, T.R., & OKeefe,, R.M. (2000). Influence of model management systems on decision making: Empirical evidence and implications. The Journal of the Operational Research Society, 51(8), 936-948.

Link: http://www30.homepage.villanova.edu/q.chung/r/jors2000.pdf

Giannoccaro, I., & Pontrandolfo, P. (2002). Inventory management in supply chains: A reinforcement learning approach. International Journal of Production Economics, 78(2), 153-161. Link: http://ideas.repec.org/a/eee/proeco/v78y2002i2p153-161.html

Kurawarwala, a.A., & Hirofumi, M. (1996). Forecasting and inventory management of short life-cycle products. Operations Research, 44(1), 131-131.

Link: http://math.clas.asu.edu/~dieter/courses/oldcourses/mat451/fall08/.....

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