Introduction

Dirk Beyer (), Feng Cheng (), Suresh Sethi and Michael Taksar ()
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Dirk Beyer: M-Factor
Feng Cheng: Office of Performance Analysis and Strategy
Michael Taksar: University of Missouri

Chapter Chapter 1 in Markovian Demand Inventory Models, 2010, pp 3-18 from Springer

Abstract: Abstract Inventory management is one of the most important tasks in business. A business faces inventory problems in its most basic activities. Inventory is held by the selling party to meet the demand made by the buying party. The complexity of inventory problems varies significantly, depending on the situation. While some of the simple inventory problems may be dealt with by common sense, some other inventory problems that arise in complex business processes require sophisticated mathematical tools and advanced computing power to get a reasonably good solution.

Keywords: Optimal Policy; Inventory Model; Inventory Problem; Economic Order Quantity; Economic Order Quantity Model (search for similar items in EconPapers)
Date: 2010
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DOI: 10.1007/978-0-387-71604-6_1

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