Skip to main content
SpringerLink
Log in

Inventory Theory

Encyclopedia of Systems and Control

  • 910 Accesses

Abstract

This entry is a brief survey of classical inventory models and their extensions in several directions such as world-driven demands, presence of forecast updates, multi-delivery modes and advanced demand information, incomplete inventory information, and decentralized inventory control in the context of supply chain management. Important references are provided. We conclude with suggestions for future research.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Log in via an institution

Institutional subscriptions

Bibliography

  • Arrow KJ, Karlin S, Scarf H (1958) Studies in the mathematical theory of inventory and production. Stanford University Press, Stanford

    MATH  Google Scholar 

  • Axsäter S (2006) Inventory control. Springer, New York

    MATH  Google Scholar 

  • Bensoussan A (2011) Dynamic programming and inventory control. IOS Press, Washington, DC

    MATH  Google Scholar 

  • Bensoussan A, Cakanyildirim M, Feng Q, Sethi SP (2009) Optimal ordering policies for stochastic inventory problems with observed information delays. Prod Oper Manag 18(5):546–559

    Article  Google Scholar 

  • Bensoussan A, Cakanyildirim M, Sethi SP (2010) Filtering for discrete-time Markov processes and applications to inventory control with incomplete information. In: Crisan D, Rozovsky B (eds) Handbook on nonlinear filtering. Oxford University Press, Oxford, UK, pp 500–525

    Google Scholar 

  • Beyer D, Cheng F, Sethi SP, Taksar MI (2010) Markovian demand inventory models. International series in operations research and management science. Springer, New York

    Book  Google Scholar 

  • Beyer D, Sethi SP (1998) A proof of the EOQ formula using quasi-variational inequalities. Int J Syst Sci 29(11):1295–1299

    Article  MATH  Google Scholar 

  • Cachon GP (2003) Supply chain coordination with contracts. In: de Kok AG, Graves S (eds) Supply chain management-handbook in OR/MS, chapter 6. North-Holland, Amsterdam, pp 229–340

    Google Scholar 

  • Chand S, Hsu VN, Sethi SP (2002) Forecast, solution and rolling horizons in operations management problems: a classified bibliography. Manuf Serv Oper Manag 4(1):25–43

    Google Scholar 

  • Clark AJ, Scarf H (1960) Optimal policies for a multi-echelon inventory problem. Manag Sci 6(4):475–490

    Article  Google Scholar 

  • Erlenkotter D (1990) Ford Whitman Harris and the economic order quantity model. Oper Res 38(6):937–946

    Article  MathSciNet  Google Scholar 

  • Harris FW (1913) How many parts to make at once. Fact Mag Manag 10(2):135–136, 152. Reprinted (1990) Oper Res 38(6):947–950

    Article  Google Scholar 

  • Ozer O (2011) Inventory management: information, coordination, and rationality. In: Kempf KG, Keskinocak P, Uzsoy R (eds) Planning production and inventories in the extended enterprise. Springer, New York

    Google Scholar 

  • Porteus EL (2002) Stochastic inventory theory. Stanford University Press, Stanford, CA

    Google Scholar 

  • Presman E, Sethi SP (2006) Inventory models with continuous and Poisson demands and discounted and average costs. Prod Oper Manag 15(2):279–293

    Article  Google Scholar 

  • Scarf H (1960) The optimality of (s, S) policies in dynamic inventory problems. In: Arrow KJ, Karlin S, Suppes P (eds) Mathematical methods in the social sciences. Stanford University Press, Stanford, pp 196–202

    Google Scholar 

  • Sethi SP (2010) i3: incomplete information inventory models. Decis Line Oct:16–19

    Google Scholar 

  • Sethi SP, Yan H, Zhang H (2005) Inventory and supply chain management with forecast updates. Springer, New York

    Google Scholar 

  • Wagner HM, Whitin TM (1958) Dynamic version of the economic lot size model. Manag Sci 5:89–96

    Article  MATH  MathSciNet  Google Scholar 

  • Zipkin P (2000) Foundations of inventory management. McGraw Hill, New York

    Google Scholar 

Download references

Author information

Authors and Affiliations

  1. Jindal School of Management, The University of Texas at Dallas, 800 West Campbell Rd., SM30, 75080-3021, Richardson,TX, USA

    Suresh P.Sethi

Authors
  1. Suresh P.Sethi
    View author publications

    You can also search for this author in PubMed Google Scholar

Corresponding author

Correspondence to Suresh P.Sethi .

Editor information

Editors and Affiliations

  1. Electrical and Computer Engineering, Boston University, Boston, Massachusetts, USA

    John Baillieul

  2. Automation and Control Solutions, Honeywell, Golden Valley, Minnesota, USA

    Tariq Samad

Rights and permissions

Reprints and permissions

Copyright information

© 2014 Springer-Verlag London

About this entry

Cite this entry

P.Sethi, S. (2014). Inventory Theory. In: Baillieul, J., Samad, T. (eds) Encyclopedia of Systems and Control. Springer, London. https://doi.org/10.1007/978-1-4471-5102-9_44-1

Download citation

  • DOI: https://doi.org/10.1007/978-1-4471-5102-9_44-1

  • Received:

  • Accepted:

  • Published:

  • Publisher Name: Springer, London

  • Online ISBN: 978-1-4471-5102-9

  • eBook Packages: Springer Reference EngineeringReference Module Computer Science and Engineering

Publish with us

Policies and ethics

Chapter history

  1. Latest

    Inventory Theory
    Published:
    08 December 2020

    DOI: https://doi.org/10.1007/978-1-4471-5102-9_44-2

  2. Original

    Inventory Theory
    Published:
    05 April 2014

    DOI: https://doi.org/10.1007/978-1-4471-5102-9_44-1

Search

Navigation