This third edition, which has been fully updated and now includes improved and extended explanations, is suitable as a core textbook as well as a source book for industry practitioners. It covers traditional approaches for forecasting, lot sizing, determination of safety stocks and reorder...

The strategic importance of efficient Supply Chain Management is today fully recognized by top management. The total investment in inventories is enormous, and the control of capital tied up in raw material, work-in-progress, and finished goods offers an important potential for improvement. At...

1 Introduction -- 2 Forecasting -- 3 Single-Echelon Systems with Independent Items -- 4 Coordinated Replenishments -- 5 Multi-Echelon Systems -- 6 Implementation -- Appendix 1 Answers and Hints to Problems -- Appendix 2 Normal Distribution Tables.

Some Modelling Theoretic Remarks on Multi-Stage Production Planning -- Inventory — Production and Distribution Systems -- Two-Stage Production Planning in a Dynamic Environment -- Overview of a Stock Allocation Model for a Two-Echelon Push System Having Identical Units at the Lower Echelon --...

This paper compares installation and echelon stock policies for multilevel inventory control. The major results are for serial and assembly systems. For (Q, r)-rules, echelon stock policies are, in general, superior to installation stock policies. A Kanban-policy is identified as a restricted...

The classical dynamic lot size problem without backlogging is in practice usually solved with the aid of various heuristics. Most heuristics are sequential techniques, i.e. the future demand is considered period for period, and a decision whether to have a set-up or not in a certain period is...

A continuous review serial production/distribution system with discrete compound Poisson demand for the end product is considered. Unmet demand is back-ordered. Production/transportation times are constant. All deliveries from one stage to the next must be multiples of given batch sizes. We...

This paper considers the choice of initial batch quantities when demand forecasts are improving. We assume that the standard deviation of the demand per period is decreasing exponentially and approaching a long-run value. A discrete time stochastic single-level inventory model is considered....