A Perceptions Framework For Categorizing Inventory Policies In Single-Stage Inventory Systems
- Topics:
- Inventory Management
- Tags:
- Enterprise Software,
- Inventory Policy,
- Inventory System,
- Software,
- Supply Chain Management (SCM)
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Overview: In this paper we propose a perceptions framework for categorizing a range of inventory policies, including optimal inventory policies, that can be employed in a single-stage supply chain. We take the existence of a wide range of inventory policies, including what we would term optimal and suboptimal policies, as given and strive not to model the reasons that the policies persist but seek a way to categorize them via their effects on inventory levels, orders placed and the demand faced by the inventory system. Using a perspective that we consider natural and thus appealing, the categorization involves the use of conceptual perceptions of demand which underpin the link between the three characteristics of the inventory system: inventory levels, orders placed and actual demand faced.
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Format: PDF | Size: 315KB | Date: Jun 2007 | Pages: 33
