Ebook: Inventory Control, 2nd Edition (International Series in Operations Research & Management Science)

Cover -- CONTENTS -- Preface -- 1 INTRODUCTION -- 1.1 Importance and objectives of inventory control -- 1.2 Overview and purpose of the book -- 1.3 Framework -- References -- 2 FORECASTING -- 2.1 Objectives and approaches -- 2.2 Demand models -- 2.2.1 Constant model -- 2.2.2 Trend model -- 2.2.3 Trend-seasonal model -- 2.2.4 Choosing demand model -- 2.3 Moving average -- 2.4 Exponential smoothing -- 2.4.1 Updating procedure -- 2.4.2 Comparing exponential smoothing to a moving average -- 2.4.3 Practical considerations and an example -- 2.5 Exponential smoothing with trend -- 2.5.1 Updating procedure -- 2.5.2 Practical considerations and an example -- 2.6 Winters' trend-seasonal method -- 2.6.1 Updating procedure -- 2.6.2 Practical considerations and an example -- 2.7 Using regression analysis -- 2.7.1 Forecasting demand for a trend model -- 2.7.2 Practical considerations and an example -- 2.7.3 Forecasts based on other factors -- 2.7.4 More general regression models -- 2.8 Sporadic demand -- 2.9 Box-Jenkins techniques -- 2.10 Forecast errors -- 2.10.1 Common error measures -- 2.10.2 Updating MAD or s2 -- 2.10.3 Determining the standard deviation as a function of demand -- 2.10.4 Forecast errors for other time periods -- 2.10.5 Sales data instead of demand data -- 2.11 Monitoring forecasts -- 2.11.1 Checking demand -- 2.11.2 Checking that the forecast represents the mean -- 2.12 Manual forecasts -- References -- Problems -- 3 COSTS AND CONCEPTS -- 3.1 Considered costs and other assumptions -- 3.1.1 Holding costs -- 3.1.2 Ordering or setup costs -- 3.1.3 Shortage costs or service constraints -- 3.1.4 Other costs and assumptions -- 3.2 Different ordering systems -- 3.2.1 Inventory position -- 3.2.2 Continuous or periodic review -- 3.2.3 Different ordering policies -- References -- 4 SINGLE-ECHELON SYSTEMS: DETERMINISTIC LOT SIZING -- 4.1 The classical economic order quantity model -- 4.1.1 Optimal order quantity -- 4.1.2 Sensitivity analysis -- 4.1.3 Reorder point -- 4.2 Finite production rate -- 4.3 Quantity discounts -- 4.4 Backorders allowed -- 4.5 Time-varying demand -- 4.6 The Wagner-Whitin algorithm -- 4.7 The Silver-Meal heuristic -- 4.8 A heuristic that balances holding and ordering costs -- 4.9 Exact or approximate solution -- References -- Problems -- 5 SINGLE-ECHELON SYSTEMS: REORDER POINTS -- 5.1 Discrete stochastic demand -- 5.1.1 Compound Poisson demand -- 5.1.2 Logarithmic compounding distribution -- 5.1.3 Geometric compounding distribution -- 5.1.4 Smooth demand -- 5.1.5 Fitting discrete demand distributions in practice -- 5.2 Continuous stochastic demand -- 5