Inventory Management

Dmitry Ivanov, Alexander Tsipoulanidis and Jörn Schönberger
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Dmitry Ivanov: Berlin School of Economics and Law
Alexander Tsipoulanidis: Berlin School of Economics and Law
Jörn Schönberger: Technical University of Dresden

Chapter 13 in Global Supply Chain and Operations Management, 2017, pp 345-388 from Springer

Abstract: Abstract In this chapter, inventory management principles are discussed. It starts with an introductory case-study considering different inventory management principles in automotive, electronics, and e-commerce branches. At the beginning, the trade-off among “service levels” and “costs” in inventory management is highlighted. Next, the role of inventory in the supply chain is analysed. Therefore, the ABC and XYZ analysis is introduced and the use of the EOQ/EPQ models for independent inventory demand is explained. Subsequently, it is shown how to compute a reorder point and how to calculate service levels and probabilistic inventory models. In the next part, the applicability of dynamic lot-sizing models is elaborated. Finally, the discussion and computation of the effects of inventory aggregation takes place leading to the explanation of the ATP/CTP concept. The chapter is accompanied by an E-Supplement providing additional case studies, Excel templates, tasks and video streams.

Keywords: Lead Time; Inventory Management; Order Quantity; Safety Stock; Economic Order Quantity (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sptchp:978-3-319-24217-0_13

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DOI: 10.1007/978-3-319-24217-0_13

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