Dynamic inventory database management (DIDM): a summary of an internet-based solution for managing complexity of inventory databases

Abstract

In recent years, fast growth in the development and application of e-business technologies has generated vast interest among practising managers and management scholars in inventory database management. E-business technologies enable an inventory manager to make coordinated decisions on the basis of regularly updated and timely ordered information. The dynamic features of the inventory items and inventory locations make a rationally organised time schedule of regular and irregular updates for inventory databases difficult. Using a game theory strategy of optimal regular updates for dynamic databases can significantly lower costs associated with the database update process. This article describes an internet-based solution of creation, maintenance, update, and query of a computerised inventory database for inventory items and their locations with time-dependent (dynamic) and time-independent (static) attributes. Further research opportunities in inventory database management using e-business applications are discussed.