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Companies with high-performing supply chains enjoy essential competitive ad- vantages. However, supply chain management faces an environment of rising risk that endangers these competitive advantages. One of the reasons is to outsource parts of their business. This bears the risk of significantly increased lead times and lead time variability. It is the impact of lead time variability on inventory management that is the central aspect of this book. It describes a mathematical model for dual sourcing with two reorder points, shows the deviation between stochastic and deterministic calculations in a sensitivity analysis, and investigates different relaxations of a traditional dual-sourcing policy.

supply chain management --- replenishment policy --- logistics --- dual sourcing --- inventory management

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"Discussing innovation efforts and different factors including the type and size of an organization, nature, and boundary of innovation, and area and scope of work, this text will be a valuable resource for senior undergraduate, graduate students, and professionals in the field of industrial engineering, production engineering, and manufacturing science. It further covers important concepts such as related expenditure, time consideration, and related total cost planning in a comprehensive manner"-- Provided by publisher

Inventory control. --- Control, Inventory --- Inventory management --- Stock control --- Business logistics --- Physical distribution of goods --- Production control --- Inventories

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658.5 --- Productiebeleid --- Inventory control --- Production control --- Control, Production --- Factory management --- Industrial engineering --- Industrial management --- Control, Inventory --- Inventory management --- Stock control --- Business logistics --- Physical distribution of goods --- Inventories

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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.

Inventory control. --- Control, Inventory --- Inventory management --- Stock control --- Business logistics --- Physical distribution of goods --- Production control --- Inventories --- Econometrics. --- Economics, Mathematical --- Statistics

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In this book . . . Nicolas Vandeput hacks his way through the maze of quantitative supply chain optimizations. This book illustrates how the quantitative optimization of 21st century supply chains should be crafted and executed. . . . Vandeput is at the forefront of a new and better way of doing supply chains, and thanks to a richly illustrated book, where every single situation gets its own illustrating code snippet, so could you. --Joannes Vermorel, CEO, Lokad Inventory Optimization argues that mathematical inventory models can only take us so far with supply chain management. In order to optimize inventory policies, we have to use probabilistic simulations. The book explains how to implement these models and simulations step-by-step, starting from simple deterministic ones to complex multi-echelon optimization. The first two parts of the book discuss classical mathematical models, their limitations and assumptions, and a quick but effective introduction to Python is provided. Part 3 contains more advanced models that will allow you to optimize your profits, estimate your lost sales and use advanced demand distributions. It also provides an explanation of how you can optimize a multi-echelon supply chain based on a simple—yet powerful—framework. Part 4 discusses inventory optimization thanks to simulations under custom discrete demand probability functions. Inventory managers, demand planners and academics interested in gaining cost-effective solutions will benefit from the "do-it-yourself" examples and Python programs included in each chapter.

Inventory control. --- Control, Inventory --- Inventory management --- Stock control --- Business logistics --- Physical distribution of goods --- Production control --- Inventories --- Inventory optimization. --- Inventory simulations. --- Inventory. --- Python. --- Supply chain.