Foundations of Inventory Management

Book Description
Foundations of Inventory Management presents a complete treatment of inventory theory and models for use in advanced undergraduate, masters, or PhD courses in Operations research, manufacturing management or Operations management. Coverage is organized into an introductory section, followed by a section focused on predictable supply and demand, and the third section covering stochastic inventory models. Many recent developments related to or impacting inventory such as ERP systems, supply chain management, JIT, and ERP systems are integrated within the text. The text presents inventory as a critical topic for virtually all businesses today and one in which theory and practice are closely linked. Prequisite coursework for students of this text would include basic optimization theory, stochastic processes, and dynamic programming. The text includes examples as well as rigorous assignment problem sets.


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Designed to serve as a basic text for schools of management or advanced undergraduate courses, this volume focuses on the formulation, analysis, and use of mathematical models of inventory systems and avoids much discussion of the practice of inventory management. The author treats both deterministic (predictable) and stochastic (unpredictable) processes in separate sections. Models discussed include one item with a constant demand rate, time-varying demands, several products and locations, stochastic demand of one item with constant leadtimes, and time-varying stochastic demand. Annotation c. Book News, Inc., Portland, OR


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