Principles of Inventory Management

This book reviews basic terminology, concepts, taxonomy and tenets of inventory systems, then explores models: EOQ, lot-sizing, Newsvendor, continuous time and more. The authors discuss in detail different real situations in industry and theoretical models.

This textbook presents models and solutions in inventory management. It begins with a "must-read" chapter discussing basic terminology, concepts, taxonomy, and tenets of inventory system and common mathematical assumptions underlying the models. With a systematic organization, it then presents various models such as the EOQ model, lot-sizing models, Newsvendor model, periodic review models with variable and fixed ordering cost, and a continuous time model. Additionally, it discusses methods in multiechelon systems. In summary it tries to establish relationships between the dicussed models and real situations and discusses some examples in detail. Not directly competitive with other textbooks in this field, (more mathematical than some, less than others) this graduate textbook will appeal to senior and first year graduate students in operations research, industrial engineering, and quantitative MBA programs and can also serve as a reference to persons in the industry.

More mathematical than some other texts in this field, with a good balance between simplicity and rigour Has a clear, systematic exposition with detailed examples and exercises at the end of each chapter A wellorganized textbook where each section can be read independently Contains 50+ figures Includes supplementary material: sn.pub/extras

Inhalt
Inventories Are Everywhere.- EOQ Model.- Power-of-Two Policies.- Dynamic Lot Sizing with Deterministic Demand.- Single-Period Models.- Inventory Planning over Multiple Time Periods: Linear-Cost Case.- Background Concepts: An Introduction to the ( #x2212; 1, ) Policy under Poisson Demand.- A Tactical Planning Model for Managing Recoverable Items in Multi-Echelon Systems.- Reorder Point, Lot Size Models: The Continuous Review Case.- Lot Sizing Models: The Periodic Review Case.