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Operations Research in Inventory Management: A Review and Critique

Author

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  • Edward A. Silver

    (University of Calgary, Calgary, Alberta)

Abstract

The objectives of inventory management, including the relevant related costs, are examined in this paper. A brief review of standard problems, that have been effectively solved, is presented. However, we point out that a serious gap exists between theory and practice in many organizations. Suggestions are made for bridging this gap. Finally, a list is provided of a number of research problems whose implementable solution would have a major beneficial impact on the practice of inventory management.

Suggested Citation

  • Edward A. Silver, 1981. "Operations Research in Inventory Management: A Review and Critique," Operations Research, INFORMS, vol. 29(4), pages 628-645, August.
    • Handle: RePEc:inm:oropre:v:29:y:1981:i:4:p:628-645
    DOI: 10.1287/opre.29.4.628
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