An Extensive Literature Review on Lead Time Reduction in Inventory Control
Ajit Kumar Senapati1, P.C.Mishra2, B.C.Routra3, Amitabha Biswas4
1Ajit Kumar Senapati, Department of Mechanical Engg, GIET, Gunupur, Odisha, India.
2P.C. Mishra, School of Mechanical Engg, KIIT University, Bhubaneswar, Odisha, India.
3B.C. Routra, School of Mechanical Engg, KIIT University, Bhubaneswar, Odisha, India.
4Amitabha Biswas, Department of Mechanical Engg, GIET, Gunupur, Odisha, India.
Manuscript received on July 17, 2012. | Revised Manuscript received on August 25, 2012. | Manuscript published on August 30, 2012. | PP: 104-111 | Volume-1 Issue-6, August 2012. | Retrieval Number: F0644081612/2012©BEIESP
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© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: This article provides a comprehensive introduction about the lead time reduction in inventory control research status in relevant fields from a different perspective. First, this paper proposes some key factors which should be considered in the lead time reduction studies; then, from the perspective of study scope, the current literatures are distinguished into four categories on the basis of years i.e. from year 1991 to 2000 is first part, second part is from year 2000 to 2004, third part is from year 2005 to 2008 and final part is from year 2008 to 2012. Literatures in each category are reviewed according to the key factors mentioned. The literature review framework in this paper provides a clear overview of the lead time reduction inventory study field, which can be used as a starting point for further research work.
Keywords: crashing cost, Inventory control, Inventory Model, Lead time, Safety stock.