Optimal Inventory Modeling of Systems: Multi-Echelon Techniques

by Craig C. Sherbrooke

Overview

Most books on inventory theory use the item approach to determine sk levels, ignoring the impact of unit cost, echelon location, and hardware indenture. Optimal Inventory Modeling of Systems is the first book to take the system approach to inventory modeling. The result has been dramatic reductions in the resources to operate many systems - fleets of aircraft, ships, telecommunications networks, electric utilities, and the space station.

Although only four chapters and appendices are totally new in this edition, extensive revisions have been made in all chapters, adding numerous worked-out examples. Many new applications have been added including commercial airlines, experience gained during Desert Storm, and adoption of the Windows interface as a standard for personal computer models.

Product Details

ISBN-13:	9781475788518
Publisher:	Springer US
Publication date:	04/26/2013
Series:	International Series in Operations Research & Management Science , #72
Edition description:	2nd ed. 2004. Softcover reprint of the original 2nd ed. 2004
Pages:	392
Product dimensions:	6.10(w) x 9.25(h) x 0.03(d)

Table of Contents

Single-Site Inventory Model for Repairable Items.- Metric: A Multi-Echelon Model.- Demand Processes and Demand Prediction.- Vari-Metric: A Multi-Echelon, Multi-Indenture Model.- Multi-Echelon, Multi-Indenture Models With Periodic Supply And Redundancy.- Special Topics in Periodic Supply.- Modeling of Cannibalization.- Applications.- Implementation Issues.- Erratum.

Editorial Reviews

Uses a system approach--rather than the item approach--to designing an inventory control program, mainly for use in military contexts. Offers solutions to the multi-echelon problem, showing how to optimize the stock levels at operating sites and the supporting depot; and the multi-indenture problem, in which demand for an item may result in demand for lower indenture repair parts. Accessible to managers with little mathematics background, but primarily for logisticians and engineers Annotation c. Book News, Inc., Portland, OR (booknews.com)

Booknews

About the first edition:

"This book is a remarkable review and summary of nearly 30 years work on applied inventory theory. The book is a model of clarity and coherence. Even those concerned with other problem domains may benefit from the distilled wisdom it offers."

(Interfaces - Professor Steve New, University of Manchester)

"A large number of solved numerical examples help with the understanding of the models and mathematics used. Undoubtedly, a book of such integrity deserves a place on the shelf of any person, library or organization whose interests lie in the domain of inventory theory and its application to complex systems."

(Logistics Spectrum - Professor Mirce Knezevic, Exeter University)

About the second edition:

"In the second edition, the basics remain the same and should be considered essential knowledge for logisticians and system managers. Sherbrooke has spent his career solving real inventory problems. Practical examples help the reader understand critical concepts like marginal analysis, expected backorders, cost-availability curves, optimization, and analytical versus simulation based models. In Optimal Inventory Modeling of Systems, Sherbrooke tells us how we (public and private sector managers) can better understand and act on the critical trade-offs between cost and system availability. This reference text should be on your bookshelf."

(George T. Babbitt, General, USAF (Retired), Formerly Commander, Air Force Material Command; Director, Defense Logistics Agency)

From the Publisher