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Inventory Management

In: Global Supply Chain and Operations Management

Author

Listed:
  • Dmitry Ivanov

    (Berlin School of Economics and Law)

  • Alexander Tsipoulanidis

    (Berlin School of Economics and Law)

  • Jörn Schönberger

    (Technical University of Dresden)

Abstract

In this chapter, inventory management principles are discussed. It starts with an introductory case-study considering different inventory management principles in automotive, electronics, and e-commerce branches. At the beginning, the trade-off among “service levels” and “costs” in inventory management is highlighted. Next, the role of inventory in the supply chain is analysed. Therefore, the ABC and XYZ analysis is introduced and the use of the EOQ/EPQ models for independent inventory demand is explained. Subsequently, it is shown how to compute a reorder point and how to calculate service levels and probabilistic inventory models. In the next part, the applicability of dynamic lot-sizing models is elaborated. Finally, the discussion and computation of the effects of inventory aggregation takes place leading to the explanation of the ATP/CTP concept. The chapter is accompanied by an E-Supplement providing additional case studies, Excel templates, tasks and video streams.

Suggested Citation

  • Dmitry Ivanov & Alexander Tsipoulanidis & Jörn Schönberger, 2017. "Inventory Management," Springer Texts in Business and Economics, in: Global Supply Chain and Operations Management, chapter 13, pages 345-388, Springer.
    • Handle: RePEc:spr:sptchp:978-3-319-24217-0_13
    DOI: 10.1007/978-3-319-24217-0_13
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