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Quantitative Inventory Modelling and Future Trends in Supply Chain Management
DSS Laboratory Department of Production and Industrial Engineering, Technical University of Crete.
DSS Laboratory Department of Production and Industrial Engineering, Technical University of Crete.ORCID iD: 0000-0001-8473-3663
2002 (English)In: Financial Engineering, ECommerce and Supply Chain, Encyclopedia of Global Archaeology/Springer Verlag, 2002, p. 271-293Chapter in book (Refereed)
Abstract [en]

There is a trend in coordinating all the firm’s activities as an integrated system called supply chain. However, the treatment of inventories remains of high interest in all enterprises within this framework. Inventory is a major investment in most companies and it influences their flexibility and success. Traditionally, a large number of research activities have been focused on finding the best answer to the two basic questions concerning inventory management, i.e., when and how much to order. The majority of those research works have used quantitative methods to find the optimal solution. However, in recent years, because of innovations in technology, changes in customer expectations, and availability of new methods of production, attention has been attracted to a philosophy, also known as the JIT method, which considers inventory as a waste. The purpose of this paper is to present a paradigm of classical mathematical inventory models, to give a short review of their evolution into more realistic representations of the inventory system, and to discuss new trends in and the future of inventory management in the era of globalization and networking

Place, publisher, year, edition, pages
Encyclopedia of Global Archaeology/Springer Verlag, 2002. p. 271-293
Series
Applied Optimization, ISSN 1384-6485 ; 70
National Category
Production Engineering, Human Work Science and Ergonomics
Research subject
Industrial Logistics
Identifiers
URN: urn:nbn:se:ltu:diva-20063DOI: 10.1007/978-1-4757-5226-7_16Local ID: 19430b67-8550-4677-99a5-3acd2607aaf4ISBN: 978-1-4419-5222-6 (print)ISBN: 978-1-4757-5226-7 (electronic)OAI: oai:DiVA.org:ltu-20063DiVA, id: diva2:993107
Note
Upprättat; 2002; 20141124 (athkar)Available from: 2016-09-29 Created: 2016-09-29 Last updated: 2018-04-11Bibliographically approved

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Karakitsiou, AthanasiaMigdalas, Athanasios

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