Inventory Optimization

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Inventory Optimization

Author : Nicolas Vandeput
Publisher : Walter de Gruyter GmbH & Co KG
ISBN 13 : 3110673991
Total Pages : 305 pages
Book Rating : 4.1/5 (16 download)

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Book Synopsis Inventory Optimization by : Nicolas Vandeput

Download or read book Inventory Optimization written by Nicolas Vandeput and published by Walter de Gruyter GmbH & Co KG. This book was released on 2020-08-24 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this book . . . Nicolas Vandeput hacks his way through the maze of quantitative supply chain optimizations. This book illustrates how the quantitative optimization of 21st century supply chains should be crafted and executed. . . . Vandeput is at the forefront of a new and better way of doing supply chains, and thanks to a richly illustrated book, where every single situation gets its own illustrating code snippet, so could you. --Joannes Vermorel, CEO, Lokad Inventory Optimization argues that mathematical inventory models can only take us so far with supply chain management. In order to optimize inventory policies, we have to use probabilistic simulations. The book explains how to implement these models and simulations step-by-step, starting from simple deterministic ones to complex multi-echelon optimization. The first two parts of the book discuss classical mathematical models, their limitations and assumptions, and a quick but effective introduction to Python is provided. Part 3 contains more advanced models that will allow you to optimize your profits, estimate your lost sales and use advanced demand distributions. It also provides an explanation of how you can optimize a multi-echelon supply chain based on a simple—yet powerful—framework. Part 4 discusses inventory optimization thanks to simulations under custom discrete demand probability functions. Inventory managers, demand planners and academics interested in gaining cost-effective solutions will benefit from the "do-it-yourself" examples and Python programs included in each chapter. Events around the book Link to a De Gruyter Online Event in which the author Nicolas Vandeput together with Stefan de Kok, supply chain innovator and CEO of Wahupa; Koen Cobbaert, Director in the S&O Industry practice of PwC Belgium; Bram Desmet, professor of operations & supply chain at the Vlerick Business School in Ghent; and Karl-Eric Devaux, Planning Consultant, Hatmill, discuss about models for inventory optimization. The event will be moderated by Eric Wilson, Director of Thought Leadership for Institute of Business Forecasting (IBF): https://youtu.be/565fDQMJEEg

Optimization and Inventory Management

Author : Nita H. Shah
Publisher : Springer Nature
ISBN 13 : 9811396981
Total Pages : 470 pages
Book Rating : 4.8/5 (113 download)

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Book Synopsis Optimization and Inventory Management by : Nita H. Shah

Download or read book Optimization and Inventory Management written by Nita H. Shah and published by Springer Nature. This book was released on 2019-08-31 with total page 470 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book discusses inventory models for determining optimal ordering policies using various optimization techniques, genetic algorithms, and data mining concepts. It also provides sensitivity analyses for the models’ robustness. It presents a collection of mathematical models that deal with real industry scenarios. All mathematical model solutions are provided with the help of various optimization techniques to determine optimal ordering policy. The book offers a range of perspectives on the implementation of optimization techniques, inflation, trade credit financing, fuzzy systems, human error, learning in production, inspection, green supply chains, closed supply chains, reworks, game theory approaches, genetic algorithms, and data mining, as well as research on big data applications for inventory management and control. Starting from deterministic inventory models, the book moves towards advanced inventory models. The content is divided into eight major sections: inventory control and management – inventory models with trade credit financing for imperfect quality items; environmental impact on ordering policies; impact of learning on the supply chain models; EOQ models considering warehousing; optimal ordering policies with data mining and PSO techniques; supply chain models in fuzzy environments; optimal production models for multi-items and multi-retailers; and a marketing model to understand buying behaviour. Given its scope, the book offers a valuable resource for practitioners, instructors, students and researchers alike. It also offers essential insights to help retailers/managers improve business functions and make more accurate and realistic decisions.

Inventory Optimization with SAP

Author : Marc Hoppe
Publisher : SAP PRESS
ISBN 13 : 9781592292059
Total Pages : 705 pages
Book Rating : 4.2/5 (92 download)

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Book Synopsis Inventory Optimization with SAP by : Marc Hoppe

Download or read book Inventory Optimization with SAP written by Marc Hoppe and published by SAP PRESS. This book was released on 2008 with total page 705 pages. Available in PDF, EPUB and Kindle. Book excerpt: How can you reduce expensive warehouse stock without risking your customer satisfaction, ability to deliver, and market position? This book teaches you how by providing clear, straightforward details about the SAP system options for implementing efficient inventory management. You'll learn about all of the different functions of SAP ERP and SAP SCM (SAP APO) that are needed to master inventory optimization. In addition, you'll learn about the critical factors that affect your inventory, from inventory analysis, demand planning, and MRP, to service level, lot size, production, and inventory monitoring. This completely updated and expanded second edition includes new sections on MRP and inventory controlling, and is based on SAP ERP 6.0 and SAP SCM 5.1.

The Definitive Guide to Inventory Management

Author : Matthew A. Waller
Publisher : Pearson Education
ISBN 13 : 0133448827
Total Pages : 208 pages
Book Rating : 4.1/5 (334 download)

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Book Synopsis The Definitive Guide to Inventory Management by : Matthew A. Waller

Download or read book The Definitive Guide to Inventory Management written by Matthew A. Waller and published by Pearson Education. This book was released on 2014 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inventory management is a critical component of supply chain management, addressing how much inventory should be carried across the supply chain, where to carry it, and how much safety stock is required to meet the organization's cost and customer service objectives. Now, there's an authoritative and comprehensive guide to best-practice inventory management in any organization. Authored by world-class experts in collaboration with the Council of Supply Chain Management Professionals (CSCMP), this text gives students and practitioners a thorough understanding of each leading approach to managing supply chain inventories, and the variables that drive decisions about inventory levels. It discusses the fundamental need for inventory, how product value affects inventory decisions, how to determine inventory levels, how the number of inventory locations affects inventory levels, and new approaches to reducing inventory. Coverage includes: Basic inventory management goals, roles, concepts, purposes, and terminology, including periodic inventory, perpetual inventory, safety stock, cycle count, ABC analysis, carrying and stockout costs, and more Key inventory management elements, processes, and interactions Principles/strategies for establishing efficient and effective inventory flows The critical role of technology in inventory planning and management New approaches to reducing inventory including postponement, vendor-managed inventories, cross-docking, and quick response systems Understanding essential trade-offs between inventory and transportation costs, including the impact of carrying costs Requirements and challenges of global inventory management Best practices for assessing inventory management performance using standard metrics and frameworks

Periodic Review Inventory Systems

Author : Thomas Wensing
Publisher : Springer Science & Business Media
ISBN 13 : 9783642204791
Total Pages : 151 pages
Book Rating : 4.2/5 (47 download)

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Book Synopsis Periodic Review Inventory Systems by : Thomas Wensing

Download or read book Periodic Review Inventory Systems written by Thomas Wensing and published by Springer Science & Business Media. This book was released on 2011-06-26 with total page 151 pages. Available in PDF, EPUB and Kindle. Book excerpt: The focus of the work is twofold. First, it provides an introduction into fundamental structural and behavioral aspects of periodic review inventory systems. Second, it includes a comprehensive study on analytical and optimization aspects of a specific class of those systems. For the latter purpose, general solution methods for problems of inventory management in discrete time are described and developed along with highly specialized methods to solve very specific problems related to the model variants examined. The work is thus addressed to students and practitioners who seek a deeper understanding of managing inventories in discrete time as well as to software developers who require implementation aids on specific problems of inventory management.

Application of Optimization in Production, Logistics, Inventory, Supply Chain Management and Block Chain

Author : Biswajit Sarkar
Publisher : MDPI
ISBN 13 : 303928522X
Total Pages : 618 pages
Book Rating : 4.0/5 (392 download)

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Book Synopsis Application of Optimization in Production, Logistics, Inventory, Supply Chain Management and Block Chain by : Biswajit Sarkar

Download or read book Application of Optimization in Production, Logistics, Inventory, Supply Chain Management and Block Chain written by Biswajit Sarkar and published by MDPI. This book was released on 2020-04-23 with total page 618 pages. Available in PDF, EPUB and Kindle. Book excerpt: The evolution of industrial development since the 18th century is now experiencing the fourth industrial revolution. The effect of the development has propagated into almost every sector of the industry. From inventory to the circular economy, the effectiveness of technology has been fruitful for industry. The recent trends in research, with new ideas and methodologies, are included in this book. Several new ideas and business strategies are developed in the area of the supply chain management, logistics, optimization, and forecasting for the improvement of the economy of the society and the environment. The proposed technologies and ideas are either novel or help modify several other new ideas. Different real life problems with different dimensions are discussed in the book so that readers may connect with the recent issues in society and industry. The collection of the articles provides a glimpse into the new research trends in technology, business, and the environment.

Data Science for Supply Chain Forecasting

Author : Nicolas Vandeput
Publisher : Walter de Gruyter GmbH & Co KG
ISBN 13 : 3110671204
Total Pages : 338 pages
Book Rating : 4.1/5 (16 download)

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Book Synopsis Data Science for Supply Chain Forecasting by : Nicolas Vandeput

Download or read book Data Science for Supply Chain Forecasting written by Nicolas Vandeput and published by Walter de Gruyter GmbH & Co KG. This book was released on 2021-03-22 with total page 338 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using data science in order to solve a problem requires a scientific mindset more than coding skills. Data Science for Supply Chain Forecasting, Second Edition contends that a true scientific method which includes experimentation, observation, and constant questioning must be applied to supply chains to achieve excellence in demand forecasting. This second edition adds more than 45 percent extra content with four new chapters including an introduction to neural networks and the forecast value added framework. Part I focuses on statistical "traditional" models, Part II, on machine learning, and the all-new Part III discusses demand forecasting process management. The various chapters focus on both forecast models and new concepts such as metrics, underfitting, overfitting, outliers, feature optimization, and external demand drivers. The book is replete with do-it-yourself sections with implementations provided in Python (and Excel for the statistical models) to show the readers how to apply these models themselves. This hands-on book, covering the entire range of forecasting—from the basics all the way to leading-edge models—will benefit supply chain practitioners, forecasters, and analysts looking to go the extra mile with demand forecasting. Events around the book Link to a De Gruyter Online Event in which the author Nicolas Vandeput together with Stefan de Kok, supply chain innovator and CEO of Wahupa; Spyros Makridakis, professor at the University of Nicosia and director of the Institute For the Future (IFF); and Edouard Thieuleux, founder of AbcSupplyChain, discuss the general issues and challenges of demand forecasting and provide insights into best practices (process, models) and discussing how data science and machine learning impact those forecasts. The event will be moderated by Michael Gilliland, marketing manager for SAS forecasting software: https://youtu.be/1rXjXcabW2s

Inventory Management

Author : John W. Toomey
Publisher : Springer Science & Business Media
ISBN 13 : 1461543630
Total Pages : 227 pages
Book Rating : 4.4/5 (615 download)

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Book Synopsis Inventory Management by : John W. Toomey

Download or read book Inventory Management written by John W. Toomey and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 227 pages. Available in PDF, EPUB and Kindle. Book excerpt: The goal of Inventory Management will be to explain the dynamics of inventory management's principles, concepts, and techniques as they relate to the entire supply chain (customer demand, distribution, and product transformation processes). The interrelationships of all functions will be defined. The book concentrates on understanding the many ramifications of inventory management. In today's competitive business environment, inventory management has proven to be most critical, and this book is directed to the management of inventory to assist in better understanding the body of knowledge required to operate in a competitive world. Almost all functions such as sales, engineering, and accounting have an impact and are impacted by inventory management. The book will assist in the training of students as well as APICS CPIM (Certified in Production and Inventory Management) candidates. As such it will not only be a textbook, but also a desk reference for those employees responsible for controlling inventories, and thereby assist in reducing cost, improving customer service, and maximizing capacity. Each chapter concludes with a case study and suggested solution. The case studies tell the story of a growing company, Smith Industries, and the related inventory management problems it had to address. The problems addressed relate to the subject matter of the chapter.

Inventory Optimization and Multi-Echelon Planning Software

Author : Shaun Snapp
Publisher : Scm Focus
ISBN 13 : 9780983715504
Total Pages : 184 pages
Book Rating : 4.7/5 (155 download)

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Book Synopsis Inventory Optimization and Multi-Echelon Planning Software by : Shaun Snapp

Download or read book Inventory Optimization and Multi-Echelon Planning Software written by Shaun Snapp and published by Scm Focus. This book was released on 2012-08-01 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: This books explains the emerging technology of inventory optimization and multi-echelon (MEIO) supply planning. It takes a complex subject and effectively communicates what MEIO is about in plain English terms. This is the only book currently available that describes MEIO for practitioners, rather for mathematicians or academics. The book describes with text and graphics how inventory optimization allows the entire supply plan to be controlled with service levels, and how multi echelon technology answers the question of where to locate inventory in the supply network. This is the only book on inventory optimization and multi echelon planning which compares how different best of breed vendors apply MEIO technology to their products. It also explains why this technology is so important for supply planning and why companies should be actively investigating this method. The book moves smoothly between concepts to screen shots and descriptions of how the screens are configured and used. This provides the reader with some of the most intriguing areas of functionality within a variety of applications.

Optimal Inventory Modeling of Systems

Author : Craig C. Sherbrooke
Publisher : Springer Science & Business Media
ISBN 13 : 140207865X
Total Pages : 350 pages
Book Rating : 4.4/5 (2 download)

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Book Synopsis Optimal Inventory Modeling of Systems by : Craig C. Sherbrooke

Download or read book Optimal Inventory Modeling of Systems written by Craig C. Sherbrooke and published by Springer Science & Business Media. This book was released on 2006-04-11 with total page 350 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most books on inventory theory use the item approach to determine stock levels, ignoring the impact of unit cost, echelon location, and hardware indenture. Optimal Inventory Modeling of Systems is the first book to take the system approach to inventory modeling. The result has been dramatic reductions in the resources to operate many systems - fleets of aircraft, ships, telecommunications networks, electric utilities, and the space station. Although only four chapters and appendices are totally new in this edition, extensive revisions have been made in all chapters, adding numerous worked-out examples. Many new applications have been added including commercial airlines, experience gained during Desert Storm, and adoption of the Windows interface as a standard for personal computer models.

Optimal Inventory Control and Management Techniques

Author : Mittal, Mandeep
Publisher : IGI Global
ISBN 13 : 1466698896
Total Pages : 406 pages
Book Rating : 4.4/5 (666 download)

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Book Synopsis Optimal Inventory Control and Management Techniques by : Mittal, Mandeep

Download or read book Optimal Inventory Control and Management Techniques written by Mittal, Mandeep and published by IGI Global. This book was released on 2016-03-29 with total page 406 pages. Available in PDF, EPUB and Kindle. Book excerpt: Stock management and control is a critical element to the success and overall financial well-being of an organization. Through the application of innovative practices and technology, businesses are now able to effectively monitor their operations and manage their inventory by evaluating sales patterns and customer preferences. Optimal Inventory Control and Management Techniques explores emergent research in stock management and product control within organizations. Featuring diverse perspectives on the implementation of various optimization techniques, genetic algorithms, and datamining concepts, as well as research on big data applications for inventory management, this publication is a comprehensive reference source for practitioners, educators, and researchers in the fields of logistics, operations management, and retail management.

Soft Computing in Inventory Management

Author : Nita H. Shah
Publisher : Springer Nature
ISBN 13 : 981162156X
Total Pages : 228 pages
Book Rating : 4.8/5 (116 download)

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Book Synopsis Soft Computing in Inventory Management by : Nita H. Shah

Download or read book Soft Computing in Inventory Management written by Nita H. Shah and published by Springer Nature. This book was released on 2021-08-21 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents a collection of mathematical models that deals with the real scenario in the industries. The primary objective of this book is to explore various effective methods for inventory control and management using soft computing techniques. Inventory control and management is a very tedious task faced by all the organizations in any sector of the economy. It makes decisions for policies, activities, and procedures in order to make sure that the right amount of each item is held in stock at any time. Many industries suffer from indiscipline while ordering and production mismatch. It is essential to provide best ordering policy to control such kind of mismatch in the industries. All the mathematical model solutions are provided with the help of various soft computing optimization techniques to determine optimal ordering policy. This book is beneficial for practitioners, educators, and researchers. It is also helpful for retailers/managers for improving business functions and making more accurate and realistic decisions.

Production and Inventory Management with Substitutions

Author : J. Christian Lang
Publisher : Springer Science & Business Media
ISBN 13 : 3642042473
Total Pages : 260 pages
Book Rating : 4.6/5 (42 download)

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Book Synopsis Production and Inventory Management with Substitutions by : J. Christian Lang

Download or read book Production and Inventory Management with Substitutions written by J. Christian Lang and published by Springer Science & Business Media. This book was released on 2009-11-25 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: Quantitativeapproachesforsolvingproductionplanningandinventorymanagement problems in industry have gained growing importance in the past years. Due to the increasinguse of AdvancedPlanningSystems, a widespreadpracticalapplicationof the sophisticated optimization models and algorithms developed by the Production Management and Operations Research community now seem within reach. The possibility that productscan be replaced by certain substitute productsexists in various application areas of production planning and inventory management. Substitutions can be useful for a number of reasons, among others to circ- vent production and supply bottlenecks and disruptions, increase the service level, reduce setup costs and times, and lower inventories and thereby decrease ca- tal lockup. Considering the current trend in industry towards shorter product life cycles and greater product variety, the importance of substitutions appears likely to grow. Closely related to substitutions are ?exible bills-of-materials and recipes in multi-level production systems. However, so far, the aspect of substitutions has not attracted much attention in academic literature. Existing lot-sizing models matching complex requirements of industrial optimization problems (e.g., constrained capacities, sequence-dependent setups, multiple resources) such as the Capacitated Lot-Sizing Problem with Sequence-Dependent Setups (CLSD) and the General Lot-Sizing and Scheduling Problem for Multiple Production Stages (GLSPMS) do not feature in substitution options.

Inventory Analytics

Author : Roberto Rossi
Publisher : Open Book Publishers
ISBN 13 : 180064177X
Total Pages : 184 pages
Book Rating : 4.8/5 (6 download)

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Book Synopsis Inventory Analytics by : Roberto Rossi

Download or read book Inventory Analytics written by Roberto Rossi and published by Open Book Publishers. This book was released on 2021-05-24 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inventory Analytics provides a comprehensive and accessible introduction to the theory and practice of inventory control – a significant research area central to supply chain planning. The book outlines the foundations of inventory systems and surveys prescriptive analytics models for deterministic inventory control. It further discusses predictive analytics techniques for demand forecasting in inventory control and also examines prescriptive analytics models for stochastic inventory control. Inventory Analytics is the first book of its kind to adopt a practicable, Python-driven approach to illustrating theories and concepts via computational examples, with each model covered in the book accompanied by its Python code. Originating as a collection of self-contained lectures, Inventory Analytics will be an indispensable resource for practitioners, researchers, teachers, and students alike.

Foundations of Inventory Management

Author : Paul Zipkin
Publisher : McGraw-Hill/Irwin
ISBN 13 : 9780256113792
Total Pages : 0 pages
Book Rating : 4.1/5 (137 download)

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Book Synopsis Foundations of Inventory Management by : Paul Zipkin

Download or read book Foundations of Inventory Management written by Paul Zipkin and published by McGraw-Hill/Irwin. This book was released on 2000-01-24 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Foundations of Inventory Management presents a complete treatment of inventory theory and models for use in advanced undergraduate, masters, or PhD courses in Operations research, manufacturing management or Operations management. Coverage is organized into an introductory section, followed by a section focused on predictable supply and demand, and the third section covering stochastic inventory models. Many recent developments related to or impacting inventory such as ERP systems, supply chain management, JIT, and ERP systems are integrated within the text. The text presents inventory as a critical topic for virtually all businesses today and one in which theory and practice are closely linked. Prequisite coursework for students of this text would include basic optimization theory, stochastic processes, and dynamic programming. The text includes examples as well as rigorous assignment problem sets.

Inventory Management and Optimization in SAP ERP

Author : Elke Roettig
Publisher : SAP PRESS
ISBN 13 : 9781493213108
Total Pages : 0 pages
Book Rating : 4.2/5 (131 download)

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Book Synopsis Inventory Management and Optimization in SAP ERP by : Elke Roettig

Download or read book Inventory Management and Optimization in SAP ERP written by Elke Roettig and published by SAP PRESS. This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Avoid having too little or too much stock on hand with this guide to inventory management and optimization with SAP ERP Start by managing the stock you have through replenishment, goods issue, goods receipt, and internal transfers. Then plan for and optimize your future by avoiding bottlenecks, setting lead times, using simulations, and more. Finally, evaluate your operations using standard reports, the MRP Monitor, and KPIs. Keep your stock levels just right Key Inventory Processes Understand essential business processes like good receipt, goods issue, internal stock transfer, reservations, and using materials documents. Then map these processes to their specific master data settings like service levels and lot size. Planning and Optimization Learn how the entire supply chain influences inventory planning, and jump into methods and tools for inventory optimization including SAP ERP Add-On tools for simulations and inventory cockpits. Monitoring, Reporting, and Analysis Employ Logistics Information Systems methods to control and monitor inventory, use the MRP Monitor for inventory analysis, and calculate key indicators to measure inventory performance. Highlights: Inventory management Inventory optimization Supply chain management Goods receipt/goods issue (GR/GI) Stock transfer SAP ERP Add-Ons Lot size Demand planning Material requirements planning (MRP) MRP Monitor Key performance indicators (KPIs)

Inventory Optimization

Author : Nicolas Vandeput
Publisher : Walter de Gruyter GmbH & Co KG
ISBN 13 : 3110673940
Total Pages : 318 pages
Book Rating : 4.1/5 (16 download)

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Book Synopsis Inventory Optimization by : Nicolas Vandeput

Download or read book Inventory Optimization written by Nicolas Vandeput and published by Walter de Gruyter GmbH & Co KG. This book was released on 2020-08-24 with total page 318 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this book . . . Nicolas Vandeput hacks his way through the maze of quantitative supply chain optimizations. This book illustrates how the quantitative optimization of 21st century supply chains should be crafted and executed. . . . Vandeput is at the forefront of a new and better way of doing supply chains, and thanks to a richly illustrated book, where every single situation gets its own illustrating code snippet, so could you. --Joannes Vermorel, CEO, Lokad Inventory Optimization argues that mathematical inventory models can only take us so far with supply chain management. In order to optimize inventory policies, we have to use probabilistic simulations. The book explains how to implement these models and simulations step-by-step, starting from simple deterministic ones to complex multi-echelon optimization. The first two parts of the book discuss classical mathematical models, their limitations and assumptions, and a quick but effective introduction to Python is provided. Part 3 contains more advanced models that will allow you to optimize your profits, estimate your lost sales and use advanced demand distributions. It also provides an explanation of how you can optimize a multi-echelon supply chain based on a simple—yet powerful—framework. Part 4 discusses inventory optimization thanks to simulations under custom discrete demand probability functions. Inventory managers, demand planners and academics interested in gaining cost-effective solutions will benefit from the "do-it-yourself" examples and Python programs included in each chapter.