Supply Chain Management: Inventory Management
Supply Chain Management: Inventory Management
Donglei Du
Faculty of Business Administration, University of New Brunswick, NB Canada Fredericton E3B 9Y2 (ddu@umbc.edu)
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Table of contents I
1 Introduction
2 Inventory Management
3 Inventory models
4 Economic Order Quantity (EOQ) EOQ model When-to-order?
5 Economic Production Quantity (EPQ): model description EPQ model
6 The Newsboy Problem-Unknown demand (probabilistic model) The newsvendor model
7 Multiple-period stochastic model: model description
8 Managing inventory in the supply chain
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Section 1 Introduction
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Outline I
1 Introduce some basic concepts in inventory management
Inventory level (IL) Reorder point (ROP) Lead time Safety stock Continuous review and periodic review systems Service level
2 Introduce some basic inventory models, both deterministic and probabilistic.
deterministic models 1 EOQ model 2 EPQ model
probabilistic models 1 Single-period model: Newsboy model 2 Multiple-period model
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Section 2 Inventory Management
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