Inventory Control Theory

Asoke Kumar Bhunia (), Laxminarayan Sahoo () and Ali Akbar Shaikh ()
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Asoke Kumar Bhunia: The University of Burdwan
Laxminarayan Sahoo: Raniganj Girls’ College
Ali Akbar Shaikh: The University of Burdwan

Chapter Chapter 17 in Advanced Optimization and Operations Research, 2019, pp 521-579 from Springer

Abstract: Abstract The objectives of this chapter are to: Discuss the concepts of inventory as well as the various forms of inventory and reasons for maintaining inventories Define the different terminologies of inventory like demand, replenishment, constraints, shortages, lead time, planning/time horizon and various types of inventory costs Derive the single item purchasing and manufacturing inventory models with and without shortages Determine the optimal order quantity for single item price break inventory models and multi-item purchasing model with different constraints like investment, average inventory and space constraints Introduce the probabilistic models for discrete (the well-known newspaper boy problem) and continuous cases Discuss the fuzzy inventory model.

Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:spr:spochp:978-981-32-9967-2_17

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DOI: 10.1007/978-981-32-9967-2_17

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