Inventory and Supply Chain Management with Forecast Updates


Book Description

Real problems are formulated into tractable mathematical models, which allow for an analysis of various approaches. Attention is focused on solutions. Provides a unified treatment of the models discussed , presents a critique of the existing results, and points out potential research directions.




Periodic Review Inventory Systems


Book Description

The focus of the work is twofold. First, it provides an introduction into fundamental structural and behavioral aspects of periodic review inventory systems. Second, it includes a comprehensive study on analytical and optimization aspects of a specific class of those systems. For the latter purpose, general solution methods for problems of inventory management in discrete time are described and developed along with highly specialized methods to solve very specific problems related to the model variants examined. The work is thus addressed to students and practitioners who seek a deeper understanding of managing inventories in discrete time as well as to software developers who require implementation aids on specific problems of inventory management.




Stochastic Processes, Optimization, and Control Theory: Applications in Financial Engineering, Queueing Networks, and Manufacturing Systems


Book Description

This edited volume contains 16 research articles. It presents recent and pressing issues in stochastic processes, control theory, differential games, optimization, and their applications in finance, manufacturing, queueing networks, and climate control. One of the salient features is that the book is highly multi-disciplinary. The book is dedicated to Professor Suresh Sethi on the occasion of his 60th birthday, in view of his distinguished career.




Dual Sourcing


Book Description

Companies with high-performing supply chains enjoy essential competitive ad- vantages. However, supply chain management faces an environment of rising risk that endangers these competitive advantages. One of the reasons is to outsource parts of their business. This bears the risk of significantly increased lead times and lead time variability. It is the impact of lead time variability on inventory management that is the central aspect of this book. It describes a mathematical model for dual sourcing with two reorder points, shows the deviation between stochastic and deterministic calculations in a sensitivity analysis, and investigates different relaxations of a traditional dual-sourcing policy.




Supply Chain Coordination under Uncertainty


Book Description

Channel coordination is a core subject of supply chain management. Over the past decade, much research effort has been devoted to exploring the detailed mechanisms for achieving supply chain coordination under uncertainty, generating many fruitful analytical and empirical results. Despite the abundance of research results, there is an absence of a comprehensive reference source that provides state-of-the-art findings on both theoretical and applied research on the subject. In addition, with the advance of knowledge and technologies, many new topics on supply chain coordination under uncertainty have appeared in recent years. This handbook extensively examines supply chain coordination challenges with a focal point on discovering innovative measures that can help tackle the existing and emerging challenges. The book is organized into five parts, which include chapters on innovative analytical models for coordination, channel power and bargaining, technological advancements and applications, empirical analysis, cases studies and review. This handbook provides new empirical and analytical results with precious insights, which will not only help supply chain agents to understand more about the latest measures for supply chain coordination under uncertainty, but also help practitioners and researchers to know how to improve supply chain performance based on innovative methods.




Innovative Quick Response Programs in Logistics and Supply Chain Management


Book Description

Quick Response (QR) policy is a market-driven business strategy in which supply chain members work together to react quickly to volatile market demand. Nowadays, with advances in information technologies (such as RFID and ERP systems), new challenges and opportunities arise for the application of QR. This handbook explores QR extensively with a view to discovering innovative QR measures that can help tackle the observed and emerging challenges. The book is organized into four parts, which include chapters on analytical modeling and analyses, information technologies, cases, reviews, and applications. This handbook provides new analytical and empirical results with valuable insights, which will not only help supply chain agents to better understand the latest applications of QR in business, but also help practitioners and researchers to know how to improve the effectiveness of QR using innovative methods.




Handbook of Integrated Risk Management in Global Supply Chains


Book Description

A comprehensive, one-stop reference for cutting-edge research in integrated risk management, modern applications, and best practices In the field of business, the ever-growing dependency on global supply chains has created new challenges that traditional risk management must be equipped to handle. Handbook of Integrated Risk Management in Global Supply Chains uses a multi-disciplinary approach to present an effective way to manage complex, diverse, and interconnected global supply chain risks. Contributions from leading academics and researchers provide an action-based framework that captures real issues, implementation challenges, and concepts emerging from industry studies.The handbook is divided into five parts: Foundations and Overview introduces risk management and discusses the impact of supply chain disruptions on corporate performance Integrated Risk Management: Operations and Finance Interface explores the joint use of operational and financial hedging of commodity price uncertainties Supply Chain Finance discusses financing alternatives and the role of financial services in procurement contracts; inventory management and capital structure; and bank financing of inventories Operational Risk Management Strategies outlines supply risks and challenges in decentralized supply chains, such as competition and misalignment of incentives between buyers and suppliers Industrial Applications presents examples and case studies that showcase the discussed methodologies Each topic's presentation includes an introduction, key theories, formulas, and applications. Discussions conclude with a summary of the main concepts, a real-world example, and professional insights into common challenges and best practices. Handbook of Integrated Risk Management in Global Supply Chains is an essential reference for academics and practitioners in the areas of supply chain management, global logistics, management science, and industrial engineering who gather, analyze, and draw results from data. The handbook is also a suitable supplement for operations research, risk management, and financial engineering courses at the upper-undergraduate and graduate levels.




Applications of Decision Science in Management


Book Description

This book covers research trends of data science and management involving cutting edge technologies and novel research directions from diverse fields of industries, business and government sectors. It involves usage of various advanced tools and techniques for understanding different data collected at the grassroot level to generate actionable insights for making crucial decisions. This book aims to serve as a reference book for researchers in the area of decision science for management. It covers alternative solutions with innovative ideas and issues from different fields of business management.




Hidden Markov Models in Finance


Book Description

A number of methodologies have been employed to provide decision making solutions globalized markets. Hidden Markov Models in Finance offers the first systematic application of these methods to specialized financial problems: option pricing, credit risk modeling, volatility estimation and more. The book provides tools for sorting through turbulence, volatility, emotion, chaotic events – the random "noise" of financial markets – to analyze core components.




Optimization and Inventory Management


Book Description

This book discusses inventory models for determining optimal ordering policies using various optimization techniques, genetic algorithms, and data mining concepts. It also provides sensitivity analyses for the models’ robustness. It presents a collection of mathematical models that deal with real industry scenarios. All mathematical model solutions are provided with the help of various optimization techniques to determine optimal ordering policy. The book offers a range of perspectives on the implementation of optimization techniques, inflation, trade credit financing, fuzzy systems, human error, learning in production, inspection, green supply chains, closed supply chains, reworks, game theory approaches, genetic algorithms, and data mining, as well as research on big data applications for inventory management and control. Starting from deterministic inventory models, the book moves towards advanced inventory models. The content is divided into eight major sections: inventory control and management – inventory models with trade credit financing for imperfect quality items; environmental impact on ordering policies; impact of learning on the supply chain models; EOQ models considering warehousing; optimal ordering policies with data mining and PSO techniques; supply chain models in fuzzy environments; optimal production models for multi-items and multi-retailers; and a marketing model to understand buying behaviour. Given its scope, the book offers a valuable resource for practitioners, instructors, students and researchers alike. It also offers essential insights to help retailers/managers improve business functions and make more accurate and realistic decisions.