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Introduction

In: Markovian Demand Inventory Models

Author

Listed:
  • Dirk Beyer

    (M-Factor)

  • Feng Cheng

    (Office of Performance Analysis and Strategy)

  • Suresh P. Sethi

    (The University of Texas at Dallas)

  • Michael Taksar

    (University of Missouri)

Abstract

Inventory management is one of the most important tasks in business. A business faces inventory problems in its most basic activities. Inventory is held by the selling party to meet the demand made by the buying party. The complexity of inventory problems varies significantly, depending on the situation. While some of the simple inventory problems may be dealt with by common sense, some other inventory problems that arise in complex business processes require sophisticated mathematical tools and advanced computing power to get a reasonably good solution.

Suggested Citation

  • Dirk Beyer & Feng Cheng & Suresh P. Sethi & Michael Taksar, 2010. "Introduction," International Series in Operations Research & Management Science, in: Markovian Demand Inventory Models, chapter 0, pages 3-18, Springer.
  • Handle: RePEc:spr:isochp:978-0-387-71604-6_1
    DOI: 10.1007/978-0-387-71604-6_1
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    Cited by:

    1. Rahizah Abd Rahim Author_Email: rahizah@utar.edu.my & Morni Hayati Jaafar Sidik & Farah Waheeda Jalaludin, 2011. "The Importance Of Corporate Social Performance To The Prospective Employees In Malaysia," International Conference on Management (ICM 2011) Proceeding 2011-090-351, Conference Master Resources.

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