Research Handbook on Inventory Management 1st editon by Jing Sheng Song ISB 1800377096 978-1800377097

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ISBN 10: 1800377096
ISBN 13: 978-1800377097
Author: Jing Sheng Song,

This comprehensive Research Handbook provides an overview of state-of-the-art research on quantitative models for inventory management. Despite over half a century’s progress, inventory management remains a challenge, as evidenced by the recent Covid-19 pandemic. With an expanse of world-renowned inventory scholars from major international research universities, this Handbook explores key areas including mathematical modelling, the interplay of inventory decisions and other business decisions and the unique challenges posed to multiple industries.
Organized into three distinct sections, chapters summarize the key developments in quantitative inventory research over the past two decades. Mapping out the fundamental theories and methodologies of inventory management, the Research Handbook examines interfaces and explores interdisciplinary topics in response to technological advancement and globalization. It concludes with an analysis of context-specific models, discussing tailored modelling and analytical solutions of inventory systems in the fast-changing industries of healthcare, spare parts logistics, retailing, and online retailing.
An important reference tool, this Research Handbook will be essential to scholars and researchers invested in the fields of business and operations and supply chain management. Its insightful coverage of the practicalities of current research will be indispensable for practitioners and regulators within these fields.

Research Handbook on Inventory Management 1st Table of contents:

• Introduction: The Importance of Inventory Management

  • Overview of Inventory Management
  • The Role of Inventory in Supply Chain and Business Operations
  • Key Challenges in Modern Inventory Management
  • Objectives of the Handbook

• Chapter 1: Foundations of Inventory Management

  • Defining Inventory and its Types
  • The History and Evolution of Inventory Management
  • Core Principles and Functions of Inventory Management
  • The Role of Inventory in Operational Efficiency and Cost Control

• Chapter 2: Inventory Control Systems and Models

  • Basic Inventory Control Models (EOQ, JIT, ABC Analysis)
  • Advanced Inventory Models (Multi-echelon, Stochastic Models, etc.)
  • Pull and Push Inventory Systems
  • Demand Forecasting and its Impact on Inventory Control

• Chapter 3: Inventory Optimization Techniques

  • Inventory Optimization: Definition and Importance
  • Approaches to Optimizing Inventory Levels
  • Inventory Optimization in Multi-Product and Multi-Location Environments
  • Using Technology and Software for Inventory Optimization

• Chapter 4: The Role of Technology in Inventory Management

  • The Impact of IT and Automation on Inventory Practices
  • RFID, Barcode Systems, and IoT in Inventory Tracking
  • Advanced Technologies like AI and Machine Learning in Inventory Management
  • The Future of Inventory Management Technology

• Chapter 5: Inventory in the Context of Supply Chain Management

  • Integration of Inventory with Supply Chain Strategies
  • Just-in-Time (JIT) vs. Just-in-Case Inventory Strategies
  • The Bullwhip Effect and Its Impact on Inventory
  • Global Supply Chains and Inventory Management Considerations

• Chapter 6: Demand and Forecasting Techniques

  • Demand Forecasting Methods and Models
  • The Role of Data Analytics in Predicting Demand
  • Managing Demand Uncertainty and Volatility
  • The Link Between Forecasting Accuracy and Inventory Management

• Chapter 7: Inventory in Retail and E-Commerce

  • Inventory Management Challenges in Retail and E-Commerce
  • Managing Stock Levels in Multi-Channel Retail Environments
  • Omnichannel Retailing and Its Impact on Inventory Management
  • Case Studies in E-Commerce Inventory Success

• Chapter 8: Sustainability and Green Inventory Management

  • Sustainable Practices in Inventory Management
  • Reducing Waste and Optimizing Resource Use
  • Green Logistics and Environmentally-Friendly Inventory Solutions
  • Corporate Social Responsibility and Its Role in Inventory Management

• Chapter 9: Strategic Inventory Management

  • Aligning Inventory Management with Business Strategy
  • Inventory as a Strategic Asset
  • The Role of Inventory in Competitive Advantage
  • Strategic Sourcing and Supplier Relationship Management

• Chapter 10: Risk Management in Inventory Control

  • Identifying and Managing Risks in Inventory Management
  • The Impact of Supply Chain Disruptions on Inventory
  • Contingency Planning and Buffer Stock Strategies
  • Insurance, Hedging, and Risk Mitigation in Inventory

• Chapter 11: Inventory Metrics and Performance Measurement

  • Key Performance Indicators (KPIs) for Inventory Management
  • Analyzing Inventory Turnover, Stockouts, and Lead Times
  • Using Balanced Scorecards and Dashboards for Inventory Performance
  • Continuous Improvement in Inventory Management Performance

• Chapter 12: Case Studies in Inventory Management

  • Case Study 1: Inventory Management in a Global Manufacturing Firm
  • Case Study 2: Inventory Optimization in the Retail Sector
  • Case Study 3: The Role of Inventory in E-Commerce Success
  • Case Study 4: Overcoming Inventory Challenges in the Healthcare Industry

• Chapter 13: Future Trends and Challenges in Inventory Management

  • The Evolution of Inventory Management Practices
  • The Role of Artificial Intelligence, Automation, and Big Data
  • Emerging Trends: Blockchain, 3D Printing, and Circular Supply Chains
  • Preparing for the Future of Inventory Management

• Conclusion: The Future of Inventory Management Research

  • Key Takeaways and Insights from the Handbook
  • Emerging Areas of Research and Future Directions
  • Implications for Practitioners and Academics
  • Final Thoughts on Enhancing Inventory Management Practices

• References

• Index

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