Inventory Management: Modeling Real-life Supply Chains and Empirical Validity
By Ton de Kok, Eindhoven University, The Netherlands, a.g.d.kok@tue.nl
Abstract
It is our intention to write a different overview of inventory models, from single item single echelon models to multi-item multi-echelon models, then is mostly provided in text books on Operations Management (e.g. Nahmias and Olsen (2015) and Silver et al. (2016)). We hope that this paper provides complementary knowledge. Instead of starting with inventory models that are tractable from a mathematical point of view, we start from the inventory management problem and the modeling challenges to be faced.
Inventory Management: Modeling Real-life Supply Chains and Empirical Validity
Inventory Management: Modeling Real-life Supply Chains and Empirical Validity provides a unique overview of inventory models, from single-item single-echelon models to multi-item multi-echelon models. Rather than starting with inventory models that are tractable from a mathematical point of view, the author starts from the inventory management problem and the modeling challenges to be faced. The first section of this monograph is devoted to modelling inventory systems. The second section discusses single-item single-echelon models. The third section extensively discusses multi-item multi-echelon inventory systems. The fourth section briefly discusses the additional issues that come with taking into account resource constraints.
