Continuous-Review Policies for a Multi-Echelon Inventory Problem With Stochastic Demand (Classic Reprint) - Softcover

Marc De Bodt

Softcover

ISBN 10: 1332256287 ISBN 13: 9781332256280

Publisher: Forgotten Books, 2018

Synopsis

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.

About this title

Product Description

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.

Edition details

• Publisher: Forgotten Books
• Publication date: 2018
• Language: English
• ISBN 10: 1332256287
• ISBN 13: 9781332256280
• Binding: Paperback
• Number of pages: 57