A Stochastic Inventory Model With Demand And Holding Costs Related PDF Download
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Author | : Aneja, Yash |
Publisher | : |
Total Pages | : 11 |
Release | : 1983 |
Genre | : Cash management |
ISBN | : |
Download A Stochastic Inventory Model with Demand and Holding Costs Related Book in PDF, ePub and Kindle
Author | : Tsan-Ming Choi |
Publisher | : Springer Science & Business Media |
Total Pages | : 281 |
Release | : 2013-08-17 |
Genre | : Business & Economics |
ISBN | : 1461476399 |
Download Handbook of EOQ Inventory Problems Book in PDF, ePub and Kindle
The Economic Order Quantity (EOQ) inventory model first appeared in 1913, and in its centennial, it is still one of the most important inventory models. Despite the abundance of both classical and new research results, there was (until now) no comprehensive reference source that provides the state-of-the-art findings on both theoretical and applied research on the EOQ and its related models. This edited handbook puts together all these interesting works and the respective insights into an edited volume. The handbook contains papers which explore both the deterministic and the stochastic EOQ-model based problems and applications. It is organized into three parts: Part I presents three papers that provide an introduction and review of various EOQ related models. Part II includes four technical analyses on single-echelon EOQ-model based inventory problems. Part III consists of five papers on applications of the EOQ model for multi-echelon supply chain inventory analysis.
Author | : Dieter Bartmann |
Publisher | : Springer Science & Business Media |
Total Pages | : 271 |
Release | : 2012-12-06 |
Genre | : Business & Economics |
ISBN | : 3642871461 |
Download Inventory Control Book in PDF, ePub and Kindle
Experts in operations research and developers of software application systems have been treading separate paths for many years. It is urgently necessary to reset this course so that the demanding requirements of variousCIM concepts can be realized. This is specially relevant for computer-based stock management. Both authors, with a number of years of practical experience behind them, have written this book with this objective in mind. The book shows how modern inventory control can be rationally structured with the help of OR. Two aspects are given importance:1) the necessary mathematical derivations are completely explained in detail so that the reader will be able to optimally handle a given situation with the help of the methods learned in this book, and 2) aside from the models, strong emphasis is given on numerical methods. Suitable algorithms are thoroughly explained for the more important cases.
Author | : Evan L. Porteus |
Publisher | : Stanford University Press |
Total Pages | : 330 |
Release | : 2002 |
Genre | : Business & Economics |
ISBN | : 9780804743990 |
Download Foundations of Stochastic Inventory Theory Book in PDF, ePub and Kindle
This book has a dual purpose?serving as an advanced textbook designed to prepare doctoral students to do research on the mathematical foundations of inventory theory, and as a reference work for those already engaged in such research. All chapters conclude with exercises that either solidify or extend the concepts introduced.
Author | : Jun Liu |
Publisher | : |
Total Pages | : 308 |
Release | : 2009 |
Genre | : |
ISBN | : 9780494591413 |
Download A Stochastic Inventory Model with Price Quotation Book in PDF, ePub and Kindle
This thesis studies a single item periodic review inventory management problem with stochastic demand, random price and quotation cost. It differs from the traditional inventory model in that at the beginning of each period, a decision is made whether to pay the quotation cost to get the price information of the period. If it is decided to request a price quote then the next decision is on how many units to order if any; otherwise, there will be no order in the period.Two total cost functions are derived for the cases r
Author | : John A. Muckstadt |
Publisher | : Springer Science & Business Media |
Total Pages | : 339 |
Release | : 2010-03-20 |
Genre | : Business & Economics |
ISBN | : 0387689486 |
Download Principles of Inventory Management Book in PDF, ePub and Kindle
Inventories are prevalent everywhere in the commercial world, whether it be in retail stores, manufacturing facilities, government stockpile material, Federal Reserve banks, or even your own household. This textbook examines basic mathematical techniques used to sufficiently manage inventories by using various computational methods and mathematical models. The text is presented in a way such that each section can be read independently, and so the order in which the reader approaches the book can be inconsequential. It contains both deterministic and stochastic models along with algorithms that can be employed to find solutions to a variety of inventory control problems. With exercises at the end of each chapter and a clear, systematic exposition, this textbook will appeal to advanced undergraduate and first-year graduate students in operations research, industrial engineering, and quantitative MBA programs. It also serves as a reference for professionals in both industry and government worlds. The prerequisite courses include introductory optimization methods, probability theory (non-measure theoretic), and stochastic processes.
Author | : Karin Möllering |
Publisher | : Springer |
Total Pages | : 172 |
Release | : 2019-03-01 |
Genre | : Business & Economics |
ISBN | : 3658242558 |
Download Inventory Rationing Book in PDF, ePub and Kindle
The last decades have seen an increasing diversity of customer expectations and growing competitive pressure for a wide variety of industries. Customer segmentation and subsequent inventory rationing provide a way to cope with those customer demands while maintaining a competitive offer. The general idea resembles the yield management practised in the airline or hotel industries: Demand fulfilment for low priority customers might be refused or delayed in order to reserve stock for more important clients. This dissertation thesis from Karin Möllering provides a comprehensive introduction to inventory rationing. It gives an overview of the different approaches studied and identifies state-of-the-art rules. In a second step, the book particularly focuses on an easy-to-implement but highly efficient rationing strategy. For this strategy, a mathematical model is developed that allows for optimization under different objectives. Potential readership includes scholars of inventory control and management science, students interested in these areas as well as practitioners involved in formulating and implementing rationing strategies.
Author | : Éva Barancsi |
Publisher | : Springer |
Total Pages | : 440 |
Release | : 1990-12-31 |
Genre | : Business & Economics |
ISBN | : |
Download Inventory Models Book in PDF, ePub and Kindle
Author | : Olga L. Ortiz |
Publisher | : |
Total Pages | : |
Release | : 2008 |
Genre | : Decision making |
ISBN | : |
Download Stochastic Inventory Control with Partial Demand Observability Book in PDF, ePub and Kindle
This dissertation focuses on issues associated with the value of information in models of sequential decision making under uncertainty. All of these issues are motivated by inventory management problems. First, we study the effect of the accuracy of inventory counts on system performance when using a zero-memory controller in an inventory system that is modeled as a partially observed Markov decision process (POMDP). We derive conditions for which improving the accuracy of inventory counts will either (i) improve system performance, (ii) degrade system performance or (iii) will not affect system performance. With a computational study, we determine the range of profitability impacts that result from inaccurate inventory counts when using reasonable zero-memory control policies. Second, we assess the value of demand observation quality in an inventory system with Markovian demand and lost sales. Again, the POMDP serves as a problem model, and we develop computationally tractable suboptimal algorithms to enable the computation of effective lower bounds on system profitability when demand observations are noise-corrupted. We then extend our results toconsider the effects that product substitution has on system performance. We show that systems with low demand variability, high holding cost levels, and high levels of substitution benefit more from demand bservability than systems with high demand variability, low holding cost levels, and low levels of substitution. Third, to enhance our understanding of sequential inventory control with substitutable products, we analyze a two-item inventory problem with known deterministic primary demand, but stochastic one-way substitution. We model this problem as a MDP and show that a decision rule that minimizes the single period cost function, when applied at every decision epoch over the infinite horizon, is an optimal policy for the infinite horizon problem. A definition of increased substitutability is presented, and it is shown that increased substitutability never increases optimal expected total discounted cost.
Author | : Sven Axsäter |
Publisher | : Springer Science & Business Media |
Total Pages | : 210 |
Release | : 2013-04-17 |
Genre | : Business & Economics |
ISBN | : 1475756062 |
Download Inventory Control Book in PDF, ePub and Kindle
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.