ITEM VIEW

A procurement decision model for a video rental store : a case study

dc.contributor.authorKok, B. J.en_ZA
dc.contributor.authorBekker, J. F.en_ZA
dc.date.accessioned2012-07-16T09:13:33Z
dc.date.available2012-07-16T09:13:33Z
dc.date.issued2007
dc.identifier.citationKok, B. J. & Bekker, J. F. 2007. A procurement decision model for a video rental store : a case study. ORiON, 23(2):89-103, doi:10.5784/23-2-50en_ZA
dc.identifier.issn2224-0004 (online)
dc.identifier.issn0259-191X (print)
dc.identifier.otherdoi:10.5784/23-2-50
dc.identifier.urihttp://hdl.handle.net/10019.1/21705
dc.descriptionCITATION: Kok, B. J. & Bekker, J. F. 2007. A procurement decision model for a video rental store : a case study. ORiON, 23(2):89-103, doi:10.5784/23-2-50.
dc.descriptionThe original publication is available at http://orion.journals.ac.za
dc.description.abstractENGLISH SUMMARY : A procurement decision model for a video rental store is presented in this paper. The model is based on inventory management, but many classical inventory management principles are inappropriate since the commodities (movie titles) are removed from, and after a certain time period, returned to inventory. The commodities also have a decaying demand in general; hence the video rental store owner (the decision maker) is required to procure new titles periodically. The question addressed in this paper is how to determine which movie titles to acquire, and how many copies of each in order to best maximise profit. An approximated demand function is presented, and attributes of movie titles in inventory are used to classify candidate movie titles and predict their future demand. This allows the decision maker to select the most profitable candidate items from a list, whilst remaining within a predetermined budget. The procurement decision model is evaluated by means of predicting the expected turnover using the procurement decision model solution, and then comparing it to the turnover achieved using the procurement strategy followed by the store owner. The model is not prescriptive — the decision maker may still utilise his/her experience to acquire new movie titles. The procurement decision model, however, does assist the decision making process by presenting a point of departure from which procurement decisions may be made.en_ZA
dc.description.urihttp://orion.journals.ac.za/pub/article/view/50
dc.format.extent16 pages
dc.language.isoen_ZAen_ZA
dc.publisherOperations Research Society of South Africa
dc.subjectVideo rental services -- Inventory controlen_ZA
dc.subjectVideo recordings -- Purchasingen_ZA
dc.subjecten_ZA
dc.titleA procurement decision model for a video rental store : a case studyen_ZA
dc.typeArticleen_ZA
dc.description.versionPublisher's version
dc.rights.holderORiON


Files in this item

Thumbnail
Thumbnail

This item appears in the following Collection(s)

ITEM VIEW