In many inventory management systems, some kind of substitution flexibility exists, meaning that a substitute or more flexible item can be used (at an additional cost) when the preferred product stocks out. Through the use of substitution flexibility, we can take advantage of the risk pooling...

This paper presents a typology and classifies the literature on inventory models with multiple sourcing options. The categories for classification include the number of considered echelons, the source of uncertainty, the model structure, as well as the general research approach. By means of the...

This paper analyses literature contributions in the search for safety stock problem under uncertainties and risks in the procurement process, focusing on the dimensioning problem (determination of the safety stock level). We perform a systematic literature review (SLR) from 1995 to 2019 in...

Inventory affects the production process and supply chain activities. Integrated decision inventory improves performance and optimizes supply chain activities. However, its disadvantage is the Integrated Procurement Production (IPP) inventory model, which manages the raw material inventory in...