Inventory Control
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Beschreibung
The strategic importance of efficient Supply Chain Management is today fully recognized by top management. The total investment in inventories is enormous, and the control of capital tied up in raw material, work-in-progress, and finished goods offers an important potential for improvement. At the same time, advances in information technology have drastically changed the possibilities to apply improved inventory control techniques. Furthermore, the recent progress in research has resulted in new and more general methods that can reduce the supply chain costs substantially. Scientific methods for production and inventory control can give a significant competitive advantage. INVENTORY CONTROL deals with a range of different approaches and models that can be used when developing inventory management systems and practices.
The book's primary purpose is to serve as a core textbook in various university courses. In addition, it serves as a source book to industry practitioners to understand inventory control techniques and thereby simplify and promote implementation in practice. The second edition of INVENTORY CONTROL, which has been extended by more than 50 percent, satisfies both these objectives. It covers traditional approaches for forecasting, lot sizing, determination of safety stocks and reorder points, KANBAN policies, and Material Requirements Planning. But it also includes very recent advances in inventory theory, for example, new techniques for multi-echelon inventory systems and Roundy's 98 percent approximation. The book also considers methods for coordinated replenishments of different items, and various practical issues in connection with industrial implementation.
The second edition of INVENTORY CONTROL incorporates several new topics. The additions include: alternative forecasting techniques, more material on different stochastic demand processes and how they can be fitted to empirical data, generalized treatment of single-echelon periodic review systems, capacity constrained lot sizing, short sections on lateral trans-shipments and on remanufacturing, coordination and contracts. There are eleven chapters compared to six in the previous version. The explanations of different results are more detailed, and a considerable number of exercises have been added.
Modem information technology has created new possibihties for more so phisticated and efficient control of supply chains. Most organizations can re duce their costs associated with the flow of materials substantially. Inventory control techniques are very important components in this development proc ess. A thorough understanding of relevant inventory models is a prerequisite for successful implementation. I hope that this book will be a useful tool in acquiring such an understanding. The book is primarily intended as a course textbook. It assumes that the reader has a good basic knowledge of mathematics and probability theory, and is therefore most suitable for industrial engineering and management science/operations research students. The book can be used both in under graduate and more advanced graduate courses. About fifteen years ago I wrote a Swedish book on inventory control. This book is still used in courses in production and inventory control at sev eral Swedish engineering schools and has also been appreciated by many practitioners in the field. Positive reactions from many readers made me contemplate writing a new book in English on the same subject. Encourag ing support of this idea from the Springer Editors Fred Hillier and Gary F- ven finally convinced me to go ahead with that project six years ago.
The second edition of Inventory Control incorporates several new topics. The additions include: alternative forecasting techniques, more material on different stochastic demand processes and how they can be fitted to empirical data, generalized treatment of single-echelon periodic review systems, capacity constrained lot sizing, short sections on lateral trans-shipments and on remanufacturing, coordination and contracts
There are eleven chapters in the second edition compared to six in the previous version. The explanations of different results are more detailed, and a considerable number of exercises have been added
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From the reviews of the second edition:
"This book states clearly the role of inventory control in supply chain management. … The author has done an excellent job in bringing practice and theory together for the benefit of researchers, students, and professionals. I recommend the book highly … . Thus, it is an excellent resource for any supply chain, inventory-management, or production-management professional." (Benjamin Botchway, Interfaces, Vol. 37 (6), 2007)
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