Research Handbook on Inventory Management


Book Description

This comprehensive Handbook provides an overview of state-of-the-art research on quantitative models for inventory management. Despite over half a century’s progress, inventory management remains a challenge, as evidenced by the recent Covid-19 pandemic. With an expanse of world-renowned inventory scholars from major international research universities, this Handbook explores key areas including mathematical modelling, the interplay of inventory decisions and other business decisions and the unique challenges posed to multiple industries.




Encyclopedia of Optimization


Book Description

The goal of the Encyclopedia of Optimization is to introduce the reader to a complete set of topics that show the spectrum of research, the richness of ideas, and the breadth of applications that has come from this field. The second edition builds on the success of the former edition with more than 150 completely new entries, designed to ensure that the reference addresses recent areas where optimization theories and techniques have advanced. Particularly heavy attention resulted in health science and transportation, with entries such as "Algorithms for Genomics", "Optimization and Radiotherapy Treatment Design", and "Crew Scheduling".




Analysis and Modeling of Manufacturing Systems


Book Description

Analysis and Modeling of Manufacturing Systems is a set of papers on some of the newest research and applications of mathematical and computational techniques to manufacturing systems and supply chains. These papers deal with fundamental questions (how to predict factory performance: how to operate production systems) and explicitly treat the stochastic nature of failures, operation times, demand, and other important events. Analysis and Modeling of Manufacturing Systems will be of interest to readers with a strong background in operations research, including researchers and mathematically sophisticated practitioners.




Planning Production and Inventories in the Extended Enterprise


Book Description

In two volumes, Planning Production and Inventories in the Extended Enterprise: A State of the Art Handbook examines production planning across the extended enterprise against a backdrop of important gaps between theory and practice. The early chapters describe the multifaceted nature of production planning problems and reveal many of the core complexities. The middle chapters describe recent research on theoretical techniques to manage these complexities. Accounts of production planning system currently in use in various industries are included in the later chapters. Throughout the two volumes there are suggestions on promising directions for future work focused on closing the gaps.




Multi-Stage Production Planning and Inventory Control


Book Description

This paper treats a two-echelon inventory system. The higher echelon is a single location reffered to as the depot, which places orders for supply of a single com modity. The lower echelon consists of several points, called the retailers, which are supplied by shipments from the depot, and at which random demands for the item occur. Stocks are reviewed and decisions are made periodically. Orders and/or shipments may each require a fixed lead time before reaching their respective desti nations. Section II gives a short literature review of distribution research. Section III introduces the multi-echelon distribution system together with the underlying as sumptions and gives a description of how this problem can be viewed as a Markovian Decision Process. Section IV discusses the concept of cost modifications in a distribution context. Section V presents the test-examples together with their optimal solutions and also gives the characteristic properties of these optimal solutions. These properties then will be used in section VI to give adapted ver sions of various heuristics which were used in assembly experiments previously and which will be tested against the test-examples.




Analysis and Algorithms for Service Parts Supply Chains


Book Description

* Provides a broad overview of modeling approaches and solution methodologies for addressing inventory problems, particularly the management of high cost, low demand rate service parts found in multi-echelon settings * The text may be used in a variety of courses for first-year graduate students or senior undergraduates, or as a reference for researchers and practitioners * A background in stochastic processes and optimization is assumed




Inventory Control


Book Description

This third edition, which has been fully updated and now includes improved and extended explanations, is suitable as a core textbook as well as a source book for industry practitioners. It covers traditional approaches for forecasting, lot sizing, determination of safety stocks and reorder points, KANBAN policies and Material Requirements Planning. It also includes recent advances in inventory theory, for example, new techniques for multi-echelon inventory systems and Roundy's 98 percent approximation. The book also considers methods for coordinated replenishments of different items, and various practical issues in connection with industrial implementation. Other topics covered in Inventory Control include: alternative forecasting techniques, material on different stochastic demand processes and how they can be fitted to empirical data, generalized treatment of single-echelon periodic review systems, capacity constrained lot sizing, short sections on lateral transshipments and on remanufacturing, coordination and contracts. As noted, the explanations have been improved throughout the book and the text also includes problems, with solutions in an appendix.







Inventory Control


Book Description

Modem information technology has created new possibilities for more sophisticated and efficient control of supply chains. Most organizations can reduce their material flow costs substantially. Inventory control techniques are very important components in this development process. A thorough understanding of relevant inventory models is a prerequisite for successful implementation. I hope that this book will be a useful tool in acquiring such an understanding. Nearly ten years ago I wrote a Swedish book on inventory control. This previous book has been used in courses in production and inventory control at several Swed ish engineering schools and has also been appreciated by many practitioners in the field. Positive reactions from many readers have occasionally made me contemplate writing a new book in English on the same subject. Encouraging support of this idea from the Kluwer Editors Fred Hillier and Gary Folven finally convinced me to go ahead with the project. The result is this new book, which in many ways differs from its Swedish prede cessor. Some differences are due to recent developments in inventory control. Fur thermore, this new book is in a sense more theoretical. In particular, it is to a larger extent focused on creating a good basic understanding of different possible ap proaches when analyzing inventory models.




Disaggregation


Book Description

This volume is intended to expand the dialogue and interest among both practitioners and academicians in a problem area worthy of attention by all. The concept of disaggregation admits to our current inability to solve many types of interrelated hierarchical problems simultaneously. It offers instead a sequential, iterative process as a workable and necessary procedure. The papers in this volume are selected from those presented at a Disaggregation Conference held in March, 1977 at The Ohio State University. We heartily applaud all those who participated in the conference and particularly appreci ate the cooperation of those authors whose work is published in this collection. Part A contains four papers which define the various dimensions of disaggregation. The paper by Martin Starr, which was the text of his luncheon address at the conference, provides several interesting perspectives to the problem. Although disaggregation suggests tear ing apart, as Professor Starr illustrates with his butterfly example, it also suggests a putting together or a synthesis which recognizes interrelationships and dependencies. The next paper by Lee Kra jewski and Larry Ritzman offers a general model of disaggregation for both the manufacturing and service sectors. After reading the papers in this section, as well as the papers in subsequent sections, you will identify other dimensions to hierarchical decision making which go beyond this generalized model.