*Mathematics | Program Guide: Inventory Models and Systems

Most organisations use, transform, distribute or sell materials of one or several kinds. The management of materials has serious implication on the financial, production, and marketing functions of an organisation. As the level of complexity of a product increases, so does the importance of managing materials.

Speed to market, reducing costs, and accelerating lead times are vital for survival in today's competitive environment. Inventory is no longer considered an asset, and strategies are needed to operate with minimal inventories. Lean Six Sigma Logistics provides the vehicle to solidify strategic position, win over customers, and achieve profitable margins. It will help you eliminate unnecessary inventories through disciplined efforts to understand and reduce variation, while increasing speed and flow in the supply chain.

Fierce competition in today's global market provides a powerful motivation for developing ever more sophisticated logistics systems. This book, written for the logistics manager and researcher, presents a survey of the modern theory and application of logistics. The goal of the book is to present the state-of-the-art in the science of logistics management. As a result, the authors have written a timely and authoritative survey of this field that many practitioners and researchers will find makes an invaluable companion to their work.

In a context of global competition, the optimization of logistics systems is inescapable. This book falls within this perspective and presents twelve chapters that well illustrate the variety and the complexity of logistics activities. Each chapter is written by recognized researchers who have been commissioned to survey a specific topic or emerging area of logistics. Each of the chapters focus on quantitative methods for the design and optimization of logistics systems.

"… a well structured and documented book that certainly reflects the new era of logistics." This expanded edition includes new research results and numerous modifications to enhance comprehensiveness and clarity. Two new sections, a new appendix, and more than half a dozen new figures.Provides new concept for an integrated examination of logistics systems. Features "reasonable" solutions requiring as little information as possible.

Most books on inventory theory use the item approach to determine stock levels, ignoring the impact of unit cost, echelon location, and hardware indenture. Optimal Inventory Modeling of Systems is the first book to take the system approach to inventory modeling. The result has been dramatic reductions in the resources to operate many systems - fleets of aircraft, ships, telecommunications networks, electric utilities, and the space station.