Inventory Management and Risk Pooling Xiaohong Pang Automation Department Shanghai Jiaotong University
Inventory Management and Risk Pooling Xiaohong Pang Automation Department Shanghai Jiaotong University
Topics Today Introduction ·What is Inventory ·EOQ Model ● The Effect of Demand Single-Stage Uncertainty Inventory Control ·Single Period Models Initial Inventory
Topics Today
Introduction to Inventory Management The importance of inventory positioning and the need for the coordination of inventory decisions and transportation policies have long been evident. Managing inventory in complex supply chains is typically difficult and may have a significant impact on the customer service level and supply chain system- wide cost
Introduction to Inventory Management The importance of inventory positioning and the need for the coordination of inventory decisions and transportation policies have long been evident. Managing inventory in complex supply chains is typically difficult and may have a significant impact on the customer service level and supply chain systemwide cost
What Is Inventory? Stock of items kept to meet future demand
What Is Inventory? Stock of items kept to meet future demand
What Is Inventory? The goal of effective inventory management Have the correct inventory at the right place at the right time Minimize system costs while satisfying customer service requirements Tasks of inventory management How many units to order When to order
What Is Inventory? The goal of effective inventory management Have the correct inventory at the right place at the right time Minimize system costs while satisfying customer service requirements Tasks of inventory management How many units to order When to order