Operations Research

11.

Inventory Theory

11.1.

Inventory System Components

11.1.1.

Types of Inventory

11.1.1.1.

11.1.1.2.

Work-in-Process

11.1.1.3.

11.1.2.

Demand Characteristics

11.1.2.1.

Deterministic vs. Stochastic

11.1.2.2.

Stationary vs. Non-stationary

11.1.2.3.

Independent vs. Dependent

11.1.3.

11.1.3.1.

11.1.3.2.

11.1.3.3.

11.1.3.4.

11.1.4.

Lead Time Considerations

11.1.5.

Review Policies

11.2.

Deterministic Inventory Models

11.2.1.

Economic Order Quantity Model

11.2.1.1.

Basic EOQ Assumptions

11.2.1.2.

EOQ Formula Derivation

11.2.1.3.

Total Cost Analysis

11.2.1.4.

Sensitivity Analysis

11.2.2.

11.2.2.1.

Quantity Discounts

11.2.2.2.

Backordering Allowed

11.2.2.3.

Planned Shortages

11.2.3.

Economic Production Quantity Model

11.2.3.1.

Production Rate Considerations

11.2.3.2.

11.2.3.3.

Optimal Production Lot Size

11.2.4.

Multi-Item Inventory Models

11.2.4.1.

11.2.4.2.

Resource Constraints

11.3.

Stochastic Inventory Models

11.3.1.

Single-Period Models

11.3.1.1.

Newsvendor Problem

11.3.1.2.

11.3.1.3.

Service Level Analysis

11.3.1.4.

Expected Profit Maximization

11.3.2.

Multi-Period Models

11.3.2.1.

Continuous Review Systems

11.3.2.1.1.

Order Point Systems

11.3.2.1.2.

Safety Stock Determination

11.3.2.1.3.

Service Level Constraints

11.3.2.2.

Periodic Review Systems

11.3.2.2.1.

Order-Up-To Level

11.3.2.2.2.

Base Stock Policies

11.3.3.

Lead Time Demand

11.3.3.1.

Distribution of Lead Time Demand

11.3.3.2.

Safety Stock Calculations

11.3.3.3.

Reorder Point Determination

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12. Simulation