Inventory record inaccuracy is a significant problem for retailers using automated inventory management systems. In this paper, we consider an intelligent inventory management tool that accounts for record inaccuracy using a Bayesian belief of the physical inventory level. We assume that excess...

While inventories are necessary to absorb input and demand variations, a balance is needed between blocked capital in the inventories and the impact on production. The rising costs and risks of carrying various types of inventories have focused attention on their proper management and control....

An inventory system containing uncertainty, e.g., in demand, in costs, in lead time, or in supplied quantity or quality, needs a probability distribution of demand for reorder point models. In the literature on inventory control, many times reference is made to the Normal or Gamma distribution...

Market makers learn about asset values as they set intraday prices and absorb portfolio flows. Absorbing these flows causes inventory imbalances. Previous work has argued that market makers change prices to manage incoming flows and offset inventory imbalances. This study argues that they have...

In this article, we study a multi-period multi-product inventory control problem. In the problem, there are N inventory classes which can be substituted for one another to satisfy the demand for a given reservation class (perhaps at a cost). The objective of management is to jointly determine...

In this article, we study a multi-period multi-product inventory control problem. In the problem, there are N inventory classes which can be substituted for one another to satisfy the demand for a given reservation class (perhaps at a cost). The objective of management is to jointly determine...

An inventory system containing uncertainty, e.g., in demand, in costs, in lead time, or in supplied quantity or quality, needs a probability distribution of demand for reorder point models. In the literature on inventory control, many times reference is made to the Normal or Gamma distribution...

The phenomenon in which demand variability increases as one moves upstream in the supply chain has been often observed in practice. This so-called “bullwhip effect” often increases upstream operations costs, including inventory holding and transportation costs. Price variations are...