|
Archive@NYU >
Stern School of Business >
IOMS: Information Systems Working Papers >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/2451/14489
|
| Title: | PURCHASING AND INVENTORY MANAGEMENT IN SCENCE-BASED INDUSTRIES |
| Authors: | Levy, Nino S.
Ronen, Boaz |
| Issue Date: | May-1987 |
| Publisher: | Stern School of Business, New York University |
| Series/Report no.: | IS-87-36 |
| Abstract: | Inventory Management has been widely discussed in the literature.
Recently, the so called "Just in Timeâ method received
extensive publicity and was claimed to be one of the major factors of
the Japanese industrial success. This, in turn, promoted a large
campaign in the rest of the industrialized world, to adopt and imitate
the "Just in Timeâ (JIT) policy. Corporate and plant
managers focused attention and set up goals as to reach as closely as
possible the Japanese inventory levels. Quite often, adoption of JIT
disregarded the totally different nature of the business their companies
engaged in, relative to Japanese industry. This paper clarifies the
differences between two different industrial models: The "Assembly
Linesâ model versus the Hi-Tech Job Shop "Science
Basedâ model and prescribes the inventory strategy appropriate
for each of those models. It is shown that a fully automated Assembly
Line type factory requires a âJust in Timeâ (minimal
holding costs) inventory strategy, while the Science Based type should
follow a more elaborate âoptimal Penaltyâ type of policy. |
| URI: | http://hdl.handle.net/2451/14489 |
| Appears in Collections: | IOMS: Information Systems Working Papers
|
All items in Faculty Digital Archive are protected by copyright, with all rights reserved.
|
