Continuous-Review Policies for a Multi-Echelon Inventory Problem With Stochastic Demand (Classic Reprint) - Softcover

Inhaltsangabe

Explore practical strategies for controlling inventory across multiple stages with uncertain demand. This study presents a continuous-review approach to a multi-echelon production and inventory system, focusing on how to minimize costs under stochastic demand.

The work develops an approximate model for two stages and extends it to M stages, using a nested replenishment policy that links each stage to the next. It explains how echelon stock is defined and how joint replenishments affect overall costs. The analysis covers setup, holding, and backorder costs, and shows how reorder points and order quantities can be chosen to reduce total cost over time. Examples illustrate the behavior of the policy and how to compute key quantities.

• How to model a multi-echelon system with stationary, stochastic demand


• How to approximate holding costs and backorders in a coordinated replenishment setting


• How reorder points and quantities are determined under a nested policy


• How the analysis extends from two stages to M stages and how to apply in practice

Ideal for readers of operations research, supply chain analytics, and inventory management professionals seeking a rigorous but applied framework for multi-echelon control.

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