Retail Inventory Management When Records Are Inaccurate¶
DeHoratius, Mersereau, & Schrage. (2008). Retail Inventory Management When Records Are Inaccurate. Manufacturing & Service Operations Management.
Cited by¶
1 citation across 1 artifact.
Each citation links to the sentence it supports in the citing article.
Domain-specific¶
- Phantom Inventory
- High-value or high-velocity SKUs under a slow audit cadence are where phantom records will both arise fastest and do the most damage, because the record's authority means an overstated balance silently suppresses replenishment, maturing a small clerical error into a prolonged stockout long before any pick exposes it — so audit priority follows mechanically from value times velocity divided by cadence, not from per-SKU judgment
This sourcePaper modelling record inaccuracy with a Bayesian belief about physical inventory and using it as the basis for replenishment and inventory-audit policies.
Supported in partVerified against the publisher's abstract
“We show that a probability distribution on physical inventory levels is a sufficient summary of past sales and replenishment observations, and that this probability distribution can be efficiently updated in a Bayesian fashion as observations are accumulated.”
- High-value or high-velocity SKUs under a slow audit cadence are where phantom records will both arise fastest and do the most damage, because the record's authority means an overstated balance silently suppresses replenishment, maturing a small clerical error into a prolonged stockout long before any pick exposes it — so audit priority follows mechanically from value times velocity divided by cadence, not from per-SKU judgment
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Registry ID ref:c88595124485 · see in the full table