Continuous-Review Policies for a Multi-Echelon Inventory Problem With Stochastic Demand (Classic Reprint) - Tapa blanda
Sinopsis
Explore practical strategies for controlling inventory across multiple stages with uncertain demand. This study presents a continuous-review approach to a multi-echelon production and inventory system, focusing on how to minimize costs under stochastic demand.
The work develops an approximate model for two stages and extends it to M stages, using a nested replenishment policy that links each stage to the next. It explains how echelon stock is defined and how joint replenishments affect overall costs. The analysis covers setup, holding, and backorder costs, and shows how reorder points and order quantities can be chosen to reduce total cost over time. Examples illustrate the behavior of the policy and how to compute key quantities.
- How to model a multi-echelon system with stationary, stochastic demand
- How to approximate holding costs and backorders in a coordinated replenishment setting
- How reorder points and quantities are determined under a nested policy
- How the analysis extends from two stages to M stages and how to apply in practice
Ideal for readers of operations research, supply chain analytics, and inventory management professionals seeking a rigorous but applied framework for multi-echelon control.
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Reseña del editor
Excerpt from Continuous-Review Policies for a Multi-Echelon Inventory Problem With Stochastic Demand
Most multi - echelon inventory systems have significant stochastic characteristics. Yet most of the inventory control systems in practice, such as materials requirements planning (mrp) systems, either ignore these stochastic elements or deal with them intnloverly simplistic manner. Furthermore in the inventory literature there is very little theory that can be applied to these problems. In this paper we hope to make a small step at improving this theory. We consider a simple multi - echelon system, namely a serial system, for which we determine continuous - review control policies. We base this analysis on an approximate cost model that is a direct extension to the approximate cost model used for a single - item, continuous - review inventory problem. The resulting solution is quite analogous to that for the single - item model, that being the determination_ of a reorder point and a reorder quantity. In the remainder of this section we give a brief review of some relevant literature.
About the Publisher
Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com
This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
Reseña del editor
Excerpt from Continuous-Review Policies for a Multi-Echelon Inventory Problem With Stochastic Demand
Continuous-Review Policies for a Multi-Echelon Inventory Problem With Stochastic Demand was written by Marc de Bodt and Stephen C. Graves in 1982. This is a 58 page book, containing 5607 words and 5 pictures. Search Inside is enabled for this title.
About the Publisher
Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com
This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
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Continuous-Review Policies for a Multi-Echelon Inventory Problem With
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Paperback. Condición: New. Print on Demand. This book explores inventory control policies for multi-echelon production systems with stochastic demand. The author extends the traditional single-item, continuous review inventory model to multi-stage serial systems, providing an approximate cost model for analysis. The resulting solution involves determining a reorder point and reorder quantity, similar to the single item model. The book examines the nature of the approximation used and highlights the analogies between the multi-stage and single-stage models. The author emphasizes the importance of echelon stock in multi-stage inventory control and offers practical insights for implementing continuous review policies in complex production systems. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item. Nº de ref. del artículo: 9781332256280_0
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ContinuousReview Policies for a MultiEchelon Inventory Problem With Stochastic Demand Classic Reprint
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PAP. Condición: New. New Book. Shipped from UK. Established seller since 2000. Nº de ref. del artículo: LW-9781332256280
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ContinuousReview Policies for a MultiEchelon Inventory Problem With Stochastic Demand Classic Reprint
Librería: PBShop.store UK, Fairford, GLOS, Reino Unido
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PAP. Condición: New. New Book. Shipped from UK. Established seller since 2000. Nº de ref. del artículo: LW-9781332256280
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