Inventory Management in Supply Chain Management

The following discussion agenda is on Inventory Management in Supply Chain Management:

1. The importance of inventory management
2. The scenario on a single warehouse inventory
• The economic lot size model
• The effect of demand uncertainty
• The effect of initial inventory
• Supply contracts
• Multiple order opportunities
• Continuous review policy
• Variable lead times
• Periodic review policy
3. Risk pooling
4. Centralized and decentralized distribution systems
5. Practical issues on inventory management in SCM
6. Employment of forecasting in inventory management
• Judgment methods
• Market research methods
• Time-series methods
• Causal methods

Reference
Semchi-Levi, D., Kaminsky, P. and Simchi-Levi, E. (2003) Designing & Managing the Supply Chain, McGraw-Hill [Chapter 3: Inventory Management and Risk Pooling]