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SpringerLink Springer Engineering eBooks 2017 English+International

Preface; Contents; About the Author; 1 Introduction; 1.1 Parameters; 1.1.1 Demand; 1.1.2 Procurement Cost; 1.1.3 Cycle Time; 1.1.4 Ordering Cost; 1.1.5 Inventory Carrying Cost; 1.1.6 Inventory Stock; 1.1.7 Stock Out Level; 1.1.8 Stock Out Cost; 1.2 Economic Lot Size; 1.3 Interaction of Inventory Parameters; 1.3.1 Basic Case Without Stock Outs; 1.3.2 With Stock Out; 2 Demand; 2.1 Increase in Demand; 2.2 Decrease in Demand; 2.3 Stock Out Situation; 2.3.1 Demand Increase; 2.3.2 Demand Decrease; 2.4 Demand Estimation for Variety of Products; 2.4.1 FMCG; 2.4.2 Pharmaceutical; 2.4.3 Agricultural.

2.4.4 Hi-Tech3 Ordering Cost; 3.1 Estimation of Ordering Cost; 3.2 Ordering Cost Decrease; 3.3 Ordering Cost Increase; 3.4 Inclusion of Shortages; 3.4.1 Reduction in Ordering Cost; 3.4.2 Increase in Ordering Cost; 3.5 Interaction of Ordering Cost and Demand; 3.6 Ordering Cost Estimation for Variety of Products; 3.6.1 FMCG; 3.6.2 Pharmaceutical; 3.6.3 Food Products; 3.6.4 Hi-Tech; 4 Inventory Carrying Cost; 4.1 Carrying Cost Estimation; 4.2 Increase in Holding Cost; 4.3 Decrease in Holding Cost; 4.4 Backordering Scenario; 4.4.1 Carrying Cost Increase; 4.4.2 Carrying Cost Reduction.

4.5 Interaction of Holding Cost with Other Parameters4.6 Response with a Combination of Parameters; 4.6.1 Without Stock Outs; 4.6.2 With Stock Outs; 4.7 Carrying Cost Estimation for Various Products; 4.7.1 FMCG; 4.7.2 Pharmaceutical; 4.7.3 Food/Agricultural Products; 4.7.4 Hi-Tech; 5 Procurement Cost; 5.1 Procurement Cost Reduction; 5.2 Procurement Cost Increase; 5.3 Stock Out Inclusion; 5.3.1 Decreased Purchase Cost; 5.3.2 Increased Purchase Cost; 5.4 Interaction of Procurement Cost with Other Parameters; 6 Cycle Time; 6.1 Significance of Cycle Time; 6.2 Cycle Time Variation.

6.2.1 Reduced Cycle Time6.2.2 Increased Cycle Time; 6.3 Backlogging Situation; 6.3.1 Upward Variation in Cycle Time; 6.3.2 Downward Variation in Cycle Time; 6.4 Interaction of Parameters Without Stock Out; 6.4.1 Decreased Cycle Time; 6.4.2 Higher Cycle Time; 6.5 Interaction of Parameters with Stock Out; 6.5.1 Increased Cycle Time; 6.5.2 Lower Cycle Time; 7 Stock Out; 7.1 Stock Out Cost Estimation; 7.2 Shortage Cost Increase; 7.3 Shortage Cost Decrease; 7.4 Interaction with the Parameters; 7.4.1 Interaction with the Demand; 7.4.2 Interaction with the Ordering Cost.

7.4.3 Interaction with the Holding Cost7.5 Variation of K Triggered by Change in Other Parameters; 7.5.1 Demand Variation; 7.5.2 Ordering Cost Variation; 7.5.3 Holding Cost Increase; 7.6 Response with a Combination of Parameters; 7.6.1 With an Aim of Similar Lot Size; 7.6.1.1 Change Triggered by Ordering Cost; 7.6.1.2 Change Triggered by Carrying Cost; 7.6.1.3 Change Triggered by Stock Out Cost; 7.6.1.4 Change Triggered by Demand; 7.6.2 With an Aim of Similar Total Cost; 7.6.2.1 Variation Triggered by Ordering Cost; 7.6.2.2 Variation Triggered by Carrying Cost.

This book provides a detailed overview of various parameters/factors involved in inventory analysis. It especially focuses on the assessment and modeling of basic inventory parameters, namely demand, procurement cost, cycle time, ordering cost, inventory carrying cost, inventory stock, stock out level, and stock out cost. In the context of economic lot size, it provides equations related to the optimum values. It also discusses why the optimum lot size and optimum total relevant cost are considered to be key decision variables, and uses numerous examples to explain each of these inventory parameters separately. Lastly, it provides detailed information on parameter estimation for different sectors/products. Written in a simple and lucid style, it offers a valuable resource for a broad readership, especially Master of Business Administration (MBA) students.