Inventory Management in Supply Networks

This textbook provides a practice-oriented introduction into the problems of stochastic inventory management observed in complex supply chains. In addition to standard single-level inventory models also multi-level approaches for the optimal allocation of safety inventory are presented. Moreover, lot sizing problems under random demand and their relationship to Material Requirements Planning (MRP) are discussed. The second edition contains a completely rewritten paper on the current state-of-the-art of stochastic lotsizing.

The models and algorithms are illustrated with the help of a large number of numerical examples. The discussed models and solution algorithms can be easily implemented in industrial practice. The book has been written for students of Supply Chain Management and Operations Management as well as for practitioners who are confronted with inventory management in their work.