A survey of procurement strategy development in industrial companies

Article Abstract:

A study developed a general framework for procurement strategy formulation and demonstrates how to create and deploy a procurement strategy. The framework is based on results from different approaches discussed in previous research that focus primarily on customer-supplier relationships and define strategies based on different kinds of customer-supplier relationships. The proposed general methodology also reveals a number of important aspects for procurement that will benefit firms who wish to develop effective purchasing strategies.

Purchasing Management, Methods, Purchasing, Management, Industrial management

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An overview of the state and problems of inventory management in Finland

Article Abstract:

Finnish inventory management is evaluated in terms of its role in corporate planning and decision making. The results show that major decisions regarding inventories are made in the lower management level without any guidelines to assist in choices. Firms suffer from a lack of accurate, real-time and aggregate information of material flow and stock levels. This situation poses problems in setting quantitative goals for inventory management.

Decision-making, Decision making, Finland, Logistics, Business logistics

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A comparison of fixed and adaptive type controls for multi-product processing

Article Abstract:

Inventory control systems are either of the push or pull type systems, with each differing in terms of setup costs and level of customer service. For a case study of a chemical plant, a pull-type approach to production line scheduling is recommended. This approach results in increased customer service and it is equipped to formulate a schedule assuming random demands and using current inventory levels.

Inventory Control, Scheduling (Management), Production management

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