- Chapter 12 in Operations Management: Sustainability and Supply Chain Management
- Mathaba, S., Adigun, M., Oladosu, J., & Oki, O. (2017). On the use of the Internet of things and Web 2.0 in inventory management. Journal of Intelligent & Fuzzy Systems, 32(4), 3091-3101. doi:10.3233/JIFS-169252
- Mora-Ochomogo, E. I., Mora-Vargas, J., & Serrato, M. (2016). A Qualitative Analysis of Inventory Management Strategies in Humanitarian Logistics Operations. International Journal of Combinatorial Optimization Problems & Informatics, 7(1), 40-53. Retrieved from https://www.researchgate.net/publication/304674682_A_Qualitative_Analysis_of_
- Rawat, K. (2015). Today’s inventory management systems: A tool in achieving best practices in Indian business. Anusandhanika, 7(1), 128-135.
- Chen, J., Dada, M., & Hu, Q. (2016). Designing supply contracts: buy-now, reserve, and wait-and-see. IIE Transactions, 48(10), 881-900. doi:10.1080/0740817X.2015.1110649
- Olsson, F. (2014). Analysis of inventory policies for perishable items with fixed leadtimes and lifetimes. Annals of Operations Research, 217(1), 399-423. doi: 10.1007/s10479-014-1590-x
- APICS, the association for operations management
- Institute of Industrial Engineers website
- Inventory Management website
- Operations Management textbook companion website for the 11th and 12th editions
Select one of the key concepts from the list below for your Discussion response. Be sure to identify the name of the organization.
- Discuss how to conduct an ABC analysis for one or more inventory items for your selected organization.
- Justify the use of the EOQ model for independent inventory demand. Explain the differences that exist between using the EOQ model at a product-based business (i.e., sells a physical, tangible product), and a service-based business (i.e., sells a service, which has no physical or tangible product).
- Explain how to compute a reorder point and describe safety stock. If the material for the product is shipped across oceans, how would that influence the safety stock?
- Contrast the differences between service levels and probabilistic inventory models in the context of your organization.