An Imperfect Process
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Handbook of Research on Promoting Business Process Improvement Through Inventory Control Techniques
Stock management and control is a critical element to the success and overall financial well-being of an organization. Through the application of innovative practices and technology, businesses are now able to effectively monitor their operations and manage their inventory by evaluating sales patterns and customer preferences. The Handbook of Research on Promoting Business Process Improvement Through Inventory Control Techniques is a critical scholarly resource that examines optimization techniques, data mining concepts, and genetic algorithms to manage inventory control. Featuring coverage on a broad range of topics such as logistics and supply chain management, stochastic inventory modelling, and inventory management in healthcare, this book is geared towards academicians, practitioners, and researchers seeking various research methods to get optimal ordering policy.
Optimization and Inventory Management
This book discusses inventory models for determining optimal ordering policies using various optimization techniques, genetic algorithms, and data mining concepts. It also provides sensitivity analyses for the models’ robustness. It presents a collection of mathematical models that deal with real industry scenarios. All mathematical model solutions are provided with the help of various optimization techniques to determine optimal ordering policy. The book offers a range of perspectives on the implementation of optimization techniques, inflation, trade credit financing, fuzzy systems, human error, learning in production, inspection, green supply chains, closed supply chains, reworks, game theory approaches, genetic algorithms, and data mining, as well as research on big data applications for inventory management and control. Starting from deterministic inventory models, the book moves towards advanced inventory models. The content is divided into eight major sections: inventory control and management – inventory models with trade credit financing for imperfect quality items; environmental impact on ordering policies; impact of learning on the supply chain models; EOQ models considering warehousing; optimal ordering policies with data mining and PSO techniques; supply chain models in fuzzy environments; optimal production models for multi-items and multi-retailers; and a marketing model to understand buying behaviour. Given its scope, the book offers a valuable resource for practitioners, instructors, students and researchers alike. It also offers essential insights to help retailers/managers improve business functions and make more accurate and realistic decisions.
Advances in Interdisciplinary Research in Engineering and Business Management
The volume contains latest research on software reliability assessment, testing, quality management, inventory management, mathematical modeling, analysis using soft computing techniques and management analytics. It links researcher and practitioner perspectives from different branches of engineering and management, and from around the world for a bird's eye view on the topics. The interdisciplinarity of engineering and management research is widely recognized and considered to be the most appropriate and significant in the fast changing dynamics of today's times. With insights from the volume, companies looking to drive decision making are provided actionable insight on each level and for every role using key indicators, to generate mobile-enabled scorecards, time-series based analysis using charts, and dashboards. At the same time, the book provides scholars with a platform to derive maximum utility in the area by subscribing to the idea of managing business through performance and business analytics.