Decision making in Inventory Management: Benefit Potential of Inventory Control Theory - Couverture souple

Mandal, Biswaranjan

 
9783844396355: Decision making in Inventory Management: Benefit Potential of Inventory Control Theory
Couverture souple
ISBN 10 : 3844396357 ISBN 13 : 9783844396355
Editeur : LAP LAMBERT Academic Publishing, 2011

Synopsis

The control of inventory of physical goods is an important problem in almost every enterprise. Inventory must be maintained in agriculture, industry, retail establishment and military. There are several reasons why different sectors should maintain inventories of goods. The fundamental reasons for doing so is that it is either physically impossible or economically not viable to have goods arrive in a given system at the time when demands for them arises. Without inventories, customers have to wait until their orders are filled from a source. There are many other reasons for keeping inventories as well. For example, the price of some raw materials used by a manufacturer may exhibit considerable seasonal fluctuations. When price is low, it is profitable to procure a large quantity of it to last through the high priced season. In the year 1915, F. Harris formulated and optimized a simple inventory model which resulted in the well known classical economic lot-size formula. Since then, the above mentioned model has been modified and extended all over the world. All the models have been developed by considering proper illustration and sensitivity study.

Les informations fournies dans la section « Synopsis » peuvent faire référence à une autre édition de ce titre.

Présentation de l'éditeur

The control of inventory of physical goods is an important problem in almost every enterprise. Inventory must be maintained in agriculture, industry, retail establishment and military. There are several reasons why different sectors should maintain inventories of goods. The fundamental reasons for doing so is that it is either physically impossible or economically not viable to have goods arrive in a given system at the time when demands for them arises. Without inventories, customers have to wait until their orders are filled from a source. There are many other reasons for keeping inventories as well. For example, the price of some raw materials used by a manufacturer may exhibit considerable seasonal fluctuations. When price is low, it is profitable to procure a large quantity of it to last through the high priced season. In the year 1915, F. Harris formulated and optimized a simple inventory model which resulted in the well known classical economic lot-size formula. Since then, the above mentioned model has been modified and extended all over the world. All the models have been developed by considering proper illustration and sensitivity study.

Biographie de l'auteur

The author Dr. Biswaranjan Mandal completed graduation from avery famous College, Narendrapur Ramkrishna Mission ResidentialCollege in 1992, then postgraduation from Calcutta University in1994, ranking as first class second in position. He receivedPh.D. degree from Jadavpur University in 2004.

Les informations fournies dans la section « A propos du livre » peuvent faire référence à une autre édition de ce titre.

Éditeur
LAP LAMBERT Academic Publishing
Date d'édition
2011
Langue
anglais
ISBN 10 
3844396357
ISBN 13 
9783844396355
Reliure
Broché
Nombre de pages
184
Coordonnées du fabricant
non disponible
Personne responsable
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