Multi-echelon Inventory Models

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Chapter 11 in Materials Management, 2014, pp 195-210 from Springer

Abstract: Abstract This chapter describes a hierarchical, multilocation inventory system called “multi-echelon” inventory system in which the stock is located at multiple locations but belongs to the same system. In such a case an integrated approach is necessary instead of treating each location of inventory in an autonomous manner. Multi-echelon systems are complex in nature and will require to address the strategic, tactical, and operational issues, which may be difficult to be incorporated in a single model. Nested models combining a number of models might become necessary. A base stock control policy with simultaneous transmission of demand data to higher echelon can effectively handle the situation. A multi-echelon repair-inventory system has been described for recoverable items called as METRIC and MOD-METRIC.

Keywords: Hierarchical; Multilocation; Multi-echelon; Base stock control policy; Repair-inventory system; METRIC; MOD-METRIC (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sptchp:978-81-322-1970-5_11

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DOI: 10.1007/978-81-322-1970-5_11

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