Principles of Inventory Management: When You Are Down to Four, Order More

Ensuring the availability of materials and goods is one of the major responsibilities and goals of inventory management, requiring various techniques such as mathematical modeling and computational methods. This unique textbook is devoted to models and solutions in inventory management. It begins with an introductory chapter in which the basics of inventory systems and mathematical assumptions for all models are grouped together, thereafter mathematical principles and applications are treated as they relate to one another. In this clearly organized systematic exposition, a unique balance is maintained between simplicity and rigor. Topics related to multiechelon systems are discussed in the latter chapters. An important feature of this work can be found in the beautiful examples in the final chapter in which a relationship between different kinds of real situations in industry and theoretical models are discussed in detail.This graduate textbook will appeal to senior and first year graduate students in operations research, industrial engineering, and quantitative MBA programs and serves as a reference resource for the industrial world.