Integrated inventory management is a compelling approach that is driving many of the organizational changes in manufacturing today. It is gaining industry-wide acceptance as it supports companies who are collapsing management levels.
This book addresses the challenging task of demand forecasting and inventory management in retailing. It analyzes how information from point-of-sale scanner systems can be used to improve inventory decisions, and develops a data-driven approach that integrates demand forecasting and inventory management for perishable products, while taking unobservable lost sales and substitution into account in out-of-stock situations. Using linear programming, a new inventory function that reflects the causal relationship between demand and external factors such as price and weather is proposed. The book subsequently demonstrates the benefits of this new approach in numerical studies that utilize real data collected at a large European retail chain. Furthermore, the book derives an optimal inventory policy for a multi-product setting in which the decision-maker faces an aggregated service level target, and analyzes whether the decision-maker is subject to behavioral biases based on real data for bakery products.
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.
The definitive guide to the latest tools & techniques forachieving performance excellence in manufacturing, distribution,and planning Now completely revised and expanded, World ClassProduction and Inventory Management presents the latest informationon the unique tools and techniques needed to manage the planningand production of a manufacturing enterprise. Including acompletely new chapter on Efficient Consumer Response (ECR),updated case studies, and additional information on manufacturingintegration, this comprehensive reference includes: * Step-by-step implementation techniques in each key area ofproduction and inventory management * Fresh perspectives on manufacturing integration and multipledemand stream management * Best-in-class examples from companies such as AbbottLaboratories, Boeing, and Martin Marietta * Proven guidelines for avoiding the most common problems and forachieving continually higher levels of performance * Self-assessment questions helpful in measuring the performance ofyour company in each operating area Comprehensive and accessible, World Class Production and InventoryManagement is an invaluable resource for APICS members seeking CPIMcertification, as well as for all those in charge of managing asuccessful manufacturing enterprise.
Stock management and control is a critical element to the success and overall financial well-being of an organization. Through the application of innovative practices and technology, businesses are now able to effectively monitor their operations and manage their inventory by evaluating sales patterns and customer preferences. The Handbook of Research on Promoting Business Process Improvement Through Inventory Control Techniques is a critical scholarly resource that examines optimization techniques, data mining concepts, and genetic algorithms to manage inventory control. Featuring coverage on a broad range of topics such as logistics and supply chain management, stochastic inventory modelling, and inventory management in healthcare, this book is geared towards academicians, practitioners, and researchers seeking various research methods to get optimal ordering policy.
Integral Warehouse Management is a new methodology for optimizing distribution centers. It creates transparency, increases the intelligence of WMS's and enhances collaboration in the supply chain.
Does inventory management sometimes feel like a waste of time? Learn how to maximize your inventory management process to use it as a tool for making important business decisions.