Inventory Management and Production Planning and Scheduling, 3rd Edition,9780471119470

Inventory Management and Production Planning and Scheduling, 3rd Edition

by ; ;
Edition: 3rd
ISBN13: 9780471119470
ISBN10: 0471119474
Format: Hardcover
Pub. Date: 1998-01-01
Publisher(s): Wiley
List Price: $244.64

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Summary

This is a revision of a classic which integrates managerial issues with practical applications, providing a broad foundation for decision-making. It incorporates recent developments in inventory management, including Just-in-Time Management, Materials Requirement Planning, and Total Quality Management.

Table of Contents

PART ONE The Context and Importance of Inventory Management and Production Planning and Scheduling 1(146)
CHAPTER 1 The Importance of Inventory Management and Production Planning and Scheduling
3(11)
1.1 Why Aggregate Inventory Investment Fluctuates: The Business Cycle
5(2)
1.2 Productivity and Performance of Existing Inventory Management and Production Planning and Scheduling Systems
7(3)
1.3 The Concentration of Inventories within Industries
10(1)
1.4 New Supply Chain Initiatives
11(1)
1.5 Summary
12(2)
CHAPTER 2 Strategic Issues
14(13)
2.1 Corporate Strategy and the Role of Top Management
15(1)
2.2 The Relationship of Finance and Marketing to Inventory Management and Production Planning and Scheduling
15(3)
2.3 Operations Strategy
18(6)
2.4 Measures of Effectiveness for Inventory Management and Production Planning and Scheduling Decisions
24(1)
2.5 Summary
24(3)
CHAPTER 3 Frameworks for Inventory Management and Production Planning and Scheduling
27(47)
3.1 The Diversity of Stock-Keeping Units
27(1)
3.2 The Bounded Rationality of a Human Being
28(1)
3.3 Decision Aids for Managing Diverse Individual Items
29(1)
3.4 Frameworks for Inventory Management
30(5)
3.5 A Framework for Production Planning and Scheduling
35(9)
3.6 Costs and Other Important Factors
44(6)
3.7 Three Types of Modeling Strategies
50(1)
3.8 The Art of Modeling
51(2)
3.9 Explicit Measurement of Costs
53(4)
3.10 Implicit Cost Measurement and Exchange Curves
57(1)
3.11 The Phrases of a Major Inventory or Production Study
58(8)
3.12 Summary
66(1)
Appendix to Chapter 3
66(8)
CHAPTER 4 Forecasting
74(73)
4.1 A Strategic Overview of Forecasting
76(4)
4.2 The Components of Time Series Analysis
80(2)
4.3 The Three Steps Involved in Statistically Forecasting a Time Series
82(1)
4.4 Some Aggregate Medium-Range Forecasting Methods
83(3)
4.5 Individual-Item, Short-Term Forecasting: Models and Procedures
86(23)
4.6 Measures of Forecast Errors
109(14)
4.7 Handling Anomalous Demand
123(1)
4.8 Incorporation of Human Judgment
123(2)
4.9 Dealing with Special Class of Individual Items
125(5)
4.10 Assessing Forecasting Procedures: Tactics and Strategy
130(4)
Appendix to Chapter 4
134(13)
PART TWO Traditional Replenishment Systems for Managing Individual-Item Inventories 147(166)
CHAPTER 5 Order Quantities When Demand is Approximately Level
149(49)
5.1 Assumptions Leading to the Basic Economic Order Quantity (EOQ)
150(1)
5.2 Derivation of the Economic Order Quantity
151(5)
5.3 Sensitivity Analysis
156(1)
5.4 Implementation Aids
157(2)
5.5 Quantity Discounts
159(5)
5.6 Accounting for Inflation
164(4)
5.7 Limits on Order Sizes
168(2)
5.8 Finite Replenishment Rate: The Economic Production Quantity (EPQ)
170(2)
5.9 Incorporation of Other Factors
172(7)
5.10 Selection of the Carrying Charge (r), The Fixed Cost Per Replenishment (A), or the Ratio A/r Based on Aggregate Considerations--The Exchange Curve
179(3)
5.11 Summary
182(1)
Appendix to Chapter 5
182(16)
CHAPTER 6 Lot Sizing for Individual Items with Time-Varying Demand
198(34)
6.1 The Complexity of Time-Varying Demand
199(1)
6.2 The Choice of Approaches
200(1)
6.3 General Assumptions and a Numerical Example
201(2)
6.4 Use of A Fixed Economic Order Quantity
203(2)
6.5 The Wagner-Whitin Method: An "Optimal" Solution Under an Additional Assumption
205(5)
6.6 Heuristic Approaches For A Significantly Variable Demand Pattern
210(9)
6.7 Handling Of Quantity Discounts
219(2)
6.8 Aggregate Exchange Curves
221(1)
6.9 Summary
222(1)
Appendix to Chapter 6
222(10)
CHAPTER 7 Individual Items with Probabilistic Demand
232(81)
7.1 Some Important Issues and Terminology
233(3)
7.2 The Importance of the Item: A, B, C Classification
236(1)
7.3 Continuous Versus Periodic Review
236(1)
7.4 The Form Of The Inventory Policy: Four Types Of Control Systems
237(4)
7.5 Specific Cost And Service Objectives
241(6)
7.6 Two Examples of Finding the Reorder Point s In A Continuous-Review, Order-Point, Order-Quantity (s,Q) System
247(6)
7.7 Decision Rules For Continuous-Review, Order-Point, Order-Quantity (s,Q) Control Systems
253(21)
7.8 Implied Costs and Performance Measures
274(1)
7.9 Decision Rules for Periodic-Review, Order-Up-To-Level (R,S) Control Systems
275(5)
7.10 Variability In The Replenishment Lead Time Itself
280(4)
7.11 Exchange Curves Involving Safety Stocks For (s,Q) Systems
284(10)
7.12 Summary
294(1)
Appendix to Chapter 7
295(18)
PART THREE Special Classes of Items 313(108)
CHAPTER 8 Managing the Most Important (Class A) Inventories
315(43)
8.1 The Nature of Class A Items
315(1)
8.2 Guidelines for Control of A Items
316(2)
8.3 Order-Point, Order-Quantity (s, Q) Systems for Slow-Moving A Items
318(7)
8.4 Simultaneous Determination of s and Q for Faster-Moving Items
325(6)
8.5 Decision Rules for (s, S) Systems
331(5)
8.6 Decision Rules for (R, s, S) Systems
336(5)
8.7 Coping with Nonstationarity
341(2)
8.8 Controlling the Inventories of Intermittent Demand Items
343(1)
8.9 Comments on Multiple Sources of Supply and Expediting
343(1)
8.10 Summary
344(1)
Appendix to Chapter 8
345(13)
CHAPTER 9 Managing Routine (Class C) Inventories
358(24)
9.1 The Nature of C Items
358(1)
9.2 Control of C Items Having Steady Demand
359(5)
9.3 Control of Items with Declining Demand Patterns
364(3)
9.4 Reducing Excess Inventories
367(5)
9.5 Stocking Versus Not Stocking an Item
372(4)
9.6 Summary
376(1)
Appendix to Chapter 9
376(6)
CHAPTER 10 Style Goods and Perishable Items
382(39)
10.1 The Style Goods Problem
383(2)
10.2 The Simplest Case: The Unconstrained, Single-Item, News Vendor Problem
385(8)
10.3 The Single-Period, Contained, Multi-Item Situation
393(3)
10.4 More than One Period in Which to Prepare for the Selling Season
396(1)
10.5 The Multiperiod News Vendor Problem
397(1)
10.6 Other Issues Relevant to the Control of Style Goods
398(5)
10.7 Inventory Control of Perishable Items
403(1)
10.8 Summary
404(1)
Appendix to Chapter 10
404(17)
PART FOUR The Complexities of Multiple Items and Multiple Locations 421(112)
CHAPTER 11 Coordinated Replenishments at a Single Stocking Point
423(48)
11.1 Advantages and Disadvantages of Coordination
424(1)
11.2 The Deterministic Case: Selection of Replenishment Quantities in a Family of Items
425(5)
11.3 The Deterministic Case with Group Discounts
430(4)
11.4 The Case of Probabilistic Demand and No Quantity Discounts
434(4)
11.5 Probabilistic Demand and Quantity Discounts
438(5)
11.6 The Production Environment
443(10)
11.7 Shipping Consolidation
453(1)
11.8 Summary
453(1)
Appendix To Chapter 11
453(18)
CHAPTER 12 Supply Chain Management and Multiechelon Inventories
471(62)
12.1 Supply Chain Management
471(5)
12.2 Structure and Coordination
476(1)
12.3 Deterministic Demand
477(9)
12.4 Probabilistic Demand
486(17)
12.5 Remanufacturing and Product Recovery
503(11)
12.6 Additional Insights
514(3)
12.7 Summary
517(1)
Appendix to Chapter 12
517(16)
PART FIVE Production Planning and Scheduling 533(206)
CHAPTER 13 An Overall Framework for Production Planning and Scheduling
535(20)
13.1 Characteristics of Different Production Processes
535(2)
13.2 A Framework for Production Decision Making
537(8)
13.3 Options in Dealing with the Hierarchy of Decisions
545(6)
13.4 Summary
551(4)
CHAPTER 14 Medium-Range Aggregate Production Planning
555(37)
14.1 The Aggregate Planning Problem
555(4)
14.2 The Costs Involved
559(5)
14.3 The Planning Horizon
564(1)
14.4 Two Pure Strategies: Level and Chase
565(1)
14.5 Feasible Solution Methods
566(6)
14.6 Linear Programming Models
572(5)
14.7 Simulation Search Procedures
577(2)
14.8 Modeling the Behavior of Managers
579(2)
14.9 Planning for Adjustments Recognizing Uncertainty
581(2)
14.10 Summary
583(9)
CHAPTER 15 Material Requirements Planning and its Extensions
592(39)
15.1 The Complexity of Multistage Assembly Manufacturing
592(2)
15.2 The Weaknesses of Traditional Replenishment Systems in a Manufacturing Setting
594(1)
15.3 Closed Loop Material Requirements Planning
595(2)
15.4 Material Requirements Planning
597(17)
15.5 Capacity Requirements Planning
614(2)
15.6 Distribution Requirements Planning
616(1)
15.7 Weaknesses of MRP
617(3)
15.8 Enterprise Resource Planning (ERP) Systems
620(3)
15.9 Summary
623(8)
CHAPTER 16 Just-in-Time and Optimized Production Technology
631(36)
16.1 Production Planning and Scheduling in Repetitive Situations: Just-in-Time
631(15)
16.2 Planning and Scheduling in Situations with Bottlenecks: Optimized Production Technology (OPT)
646(13)
16.3 Summary
659(8)
CHAPTER 17 Short-Range Production Scheduling
667(42)
17.1 Issues in Short-Term Scheduling
668(4)
17.2 Techniques for Short-Term Scheduling
672(4)
17.3 Deterministic Scheduling of a Single Machine: Priority Sequencing Rules
676(11)
17.4 Deterministic Scheduling with Two or Three Machines
687(1)
17.5 Scheduling of a Single Machine with Probabilistic Processing Times
688(1)
17.6 Probabilistic Scheduling with Two Machines
689(2)
17.7 General Job Shop Scheduling
691(10)
17.8 Summary
701(1)
Appendix to Chapter 17
701(8)
CHAPTER 18 Summary
709(4)
18.1 Operations Strategy
709(1)
18.2 Changing the Givens
710(1)
18.3 Future Developments
711(2)
APPENDIX A Elements of Lagrangian Optimization
713(6)
A.1 Illustration
713(2)
A.2 Illustration
715(4)
APPENDIX B The Normal Probability Distribution
719(16)
B.1 The Probability Density Function
719(1)
B.2 Moments
719(1)
B.3 The Unit (or Standard) Normal Distribution
720(2)
B.4 Relating Any Normal Distribution to the Unit Normal
722(1)
B.5 Further Properties Needed for the Appendix of Chapter 10
723(12)
APPENDIX C
735(4)
C.1 Approximations and Excel Functions for the Normal Distribution
735(2)
C.2 Excel Functions for the Gamma Distribution
737(2)
Author Index 739(10)
Subject Index 749

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