Inventory Analytics: Prescriptive Analytics in Supply Chains

This textbook provides a practice-oriented introduction into Analytics-based inventory management in complex supply chains. In the context of Business Analytics we concentrate on Prescriptive Analytics. In addition to standard single-level inventory models also multi-level approaches for the optimal allocation of safety inventory are presented. Moreover dynamic lot sizing problems under random demand and random yield and their relationship to Material Requirements Planning (MRP) are discussed.The models and algorithms are illustrated with the help of numerous examples. The book has been written for students of Supply Chain Management and Operations Management as well as for practitioners who are confronted with inventory management in their daily work.