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Optimal Inventory Control and Management Techniques

Book Description

Stock management and control is a critical element to the success and overall financial well-being of an organization. Through the application of innovative practices and technology, businesses are now able to effectively monitor their operations and manage their inventory by evaluating sales patterns and customer preferences. Optimal Inventory Control and Management Techniques explores emergent research in stock management and product control within organizations. Featuring diverse perspectives on the implementation of various optimization techniques, genetic algorithms, and datamining concepts, as well as research on big data applications for inventory management, this publication is a comprehensive reference source for practitioners, educators, and researchers in the fields of logistics, operations management, and retail management.

Table of Contents

  1. Cover
  2. Title Page
  3. Copyright Page
  4. Book Series
    1. Mission
    2. Coverage
  5. List of Reviewers
    1. List of Reviewers
  6. Preface
  7. Acknowledgment
  8. Chapter 1: Optimal Ordering for Deteriorating Items of Fixed-Life with Quadratic Demand and Two-Level Trade Credit
    1. ABSTRACT
    2. 1. INTRODUCTION
    3. 2. NOTATIONS AND ASSUMPTIONS
    4. 3. MATHEMATICAL MODEL
    5. 4. NUMERICAL EXAMPLES AND SENSITIVITY ANALYSIS
    6. 5. CONCLUSION
    7. ACKNOWLEDGMENT
    8. REFERENCES
  9. Chapter 2: Lot Size Model for Reverse Logistics with Quadratic Demand
    1. ABSTRACT
    2. 1. INTRODUCTION
    3. 2. NOTATIONS AND ASSUMPTIONS
    4. 3. MATHEMATICAL MODEL
    5. 4. NUMERICAL EXAMPLE AND SENSITIVITY ANALYSIS
    6. 5. CONCLUSION
    7. REFERENCES
  10. Chapter 3: Application of Genetic Algorithms in Inventory Control
    1. ABSTRACT
    2. INTRODUCTION
    3. BACKGROUND
    4. MAIN FOCUS
    5. FUTURE AND CURRENT TRENDS
    6. CONCLUSION
    7. REFERENCES
    8. ADDITIONAL READING
    9. KEY TERMS AND DEFINITIONS
  11. Chapter 4: Fuzzy Classification using Self-Adaptive Algorithm to Generate Membership Function
    1. ABSTRACT
    2. 1. INTRODUCTION
    3. 2. PRELIMINARY
    4. 3. MEMBERSHIP FUNCTION AND FUZZY RULES GENERATION
    5. 4. MATHEMATICAL FORMULATION AND GA
    6. 5. THE EXPERIMENTAL SETUP
    7. 6. RESULTS AND DISCUSSION
    8. 7. CONCLUSION
    9. REFERENCES
  12. Chapter 5: Deteriorating Inventory Model under Permissible Delay in Payments and Fuzzy Environment
    1. ABSTRACT
    2. 1. INTRODUCTION AND RELATED LITERATURE
    3. 2. ASSUMPTIONS AND NOTATIONS
    4. 3. CRISP MATHEMATICAL MODEL
    5. 4. FUZZY METHODOLOGY
    6. 5. FUZZY INVENTORY MODEL
    7. 6. ALGORITHM
    8. 7. NUMERICAL EXAMPLE
    9. 7. CONCLUSION
    10. REFERENCES
    11. KEY TERMS AND DEFINITIONS
    12. APPENDIX
  13. Chapter 6: A Possibility Approach for the Single Item Lot Sizing Problem with Fuzzy Parameters
    1. ABSTRACT
    2. 1. INTRODUCTION
    3. 2. LITERATURE REVIEW
    4. 3. UNCAPACITATED SINGLE ITEM LOT SIZING PROBLEM
    5. 4. FUZZY UNCAPACITATED SINGLE ITEM LOT SIZING PROBLEM (F-USILSP)
    6. 5. EQUIVALENT CRISP UNCAPACITATED SINGLE ITEM LOT SIZING PROBLEM (EC-USILSP)
    7. 6. EC-USILSP WITH TRAPEZOIDAL AND TRIANGULAR FUZZY NUMBERS
    8. 7. NUMERICAL EXAMPLE
    9. 8. CASE STUDY
    10. 9. CONCLUSION
    11. REFERENCES
  14. Chapter 7: Modeling of an Inventory System with Variable Demands and Lead Times using a Fuzzy Approach
    1. ABSTRACT
    2. INTRODUCTION
    3. BACKGROUND
    4. NOTATIONS
    5. MATHEMATICAL MODEL
    6. NUMERICAL ILLUSTRATION
    7. CONCLUSION AND FUTURE RESEARCH
    8. REFERENCES
  15. Chapter 8: EPQ Inventory Models under mλ-Measure
    1. ABSTRACT
    2. INTRODUCTION
    3. PRELIMINARIES
    4. EPQ MODEL WHEN SHORTAGE IS NOT PERMITTED
    5. NUMERICAL EXAMPLE
    6. EPQ MODEL WHEN SHORTAGE IS PERMITTED
    7. NUMERICAL EXAMPLE
    8. CONCLUSION
    9. REFERENCES
  16. Chapter 9: Some Studies in Multi-Storage Inventory System
    1. ABSTRACT
    2. 1.0 INTRODUCTION
    3. 2.0 GENETIC ALGORITHM (GA)
    4. 3.0 MODEL: A MODEL ON TWO STORAGE SYSTEM FOR FINITE TIME HORIZON WITH LINEARLY TIME DEPENDENT DEMAND VIA GA
    5. 4.0 SOLUTION PROCEDURE
    6. 5.0 NUMERICAL ILLUSTRATION
    7. 6.0 CONCLUSION
    8. REFERENCES
  17. Chapter 10: Optimization of Inventory for Optimal Replenishment Policies and Lead-Time with Time Varying Demand
    1. ABSTRACT
    2. 1. INTRODUCTION
    3. 2. ASSUMPTIONS AND NOTATIONS
    4. 3. MATHEMATICAL FORMULATION
    5. 4. SOLUTION APPROACH
    6. 5. NUMERICAL ILLUSTRATION
    7. 6. CONCLUSION
    8. REFERENCES
  18. Chapter 11: Inventory Control and Big Data
    1. ABSTRACT
    2. INVENTORY CONTROL: THE CONCEPT
    3. MANUAL INVENTORY CONTROL SYSTEMS
    4. AUTOMATED INVENTORY CONTROL SYSTEM
    5. INVENTORY MANAGEMENT SOFTWARES AND GENERATION OF BIG DATA
    6. INTRODUCTION OF BIG DATA
    7. CONCLUSION
    8. REFERENCES
  19. Chapter 12: Optimal Inventory Classification using Data Mining Techniques
    1. ABSTRACT
    2. INTRODUCTION
    3. BACKGROUND
    4. PROPOSED APPROACH
    5. NUMERICAL EXAMPLE
    6. CONCLUSION
    7. FUTURE RESEARCH DIRECTIONS
    8. REFERENCES
    9. ADDITIONAL READING
    10. KEY TERMS AND DEFINITIONS
  20. Chapter 13: Customer Behavior Prediction using K-Means Clustering Algorithm
    1. ABSTRACT
    2. INTRODUCTION
    3. RELATED WORK
    4. CONCLUSION
    5. REFERENCES
  21. Chapter 14: Application of Simulation Techniques
    1. ABSTRACT
    2. INTRODUCTION
    3. MODEL, ASSUMPTIONS, AND NOTATIONS
    4. CONCLUSION
    5. REFERENCES
  22. Chapter 15: Study of Industrial Model for Five-Input, Five-Stage Queueing Network
    1. ABSTRACT
    2. 1. INTRODUCTION
    3. 2. MODEL DESCRIPTION
    4. 3. QUEUEING NETWORK DESCRIPTION
    5. 4. PERFORMANCE MEASURES
    6. 5. DEVELOPMENT OF AN EQUIVALENT NETWORK
    7. 6. NUMERICAL RESULTS
    8. 7. CONCLUSION
    9. REFERENCES
  23. Chapter 16: A Gentle Introduction to the Bayesian Paradigm for Some Inventory Models
    1. ABSTRACT
    2. PURPOSE FOR THE MODEL
    3. INTRODUCTION
    4. MATHEMATICAL SOLUTION
    5. NUMERICAL STUDY
    6. CONCLUDING REMARKS
    7. REFERENCES
    8. KEY TERMS AND DEFINITIONS
  24. Compilation of References
  25. About the Contributors